Brokerage Research Reports - Do You Trust Them?

Do you trust the research reports that brokerages put out? Has anyone ever read one that says "Hit the brakes on this asset class now", or "Sell now its all down hill from here"?

Obviously there is a COI here. I'll be honest, I haven't read a good deal of the research that's published in these reports, but the ones I've glanced over all seem to indicate that there's potential for upside across all asset classes. What's your .02?

Anyone know of any CRE research reports that are published by more impartial sources?

Comments (6)

Jul 2, 2017

I generally only look at the quantitative info in them

Jul 2, 2017

Green Street reports cary almost zero COI. They're an independent sell-side, and do not engage in any investment banking /brokerage practices. I believe they recently launched a new team that covers private markets as well.. would check out their stuff.

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Jul 3, 2017

Thanks for the source. I had a personal contact also refer me to their research, but I forgot to check it out. Appreciate it.

Jul 2, 2017

Also, you're spot on about the COI that brokerage houses carry in terms of their research. Why would they ever slap a "Sell" or negative opinion on a market they are doing a majority of their deals in - would make no sense..

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Jul 6, 2017

In my experience, the large brokerage houses will tell you whatever you want to hear to get that "listing". Want a 5 CAP for your crap asset in a tertiary market? We'll get it for you!

Jul 9, 2017