CommGate has adopted a policy to suspend billing and waive fees for members of its service for the third quarter of 2020. This policy will apply to all CommGate CIE members who are in good standing with their second quarter dues paid.
CommGate recognizes that the commercial real estate sector is being hit hard by the current coronavirus emergency as many retail stores, businesses, and offices buildings are closed. Brokers, property managers, and leasing agents are reporting a large number of tenants and owners failing to make timely lease and mortgage payments. This wave of potential defaults has resulted in a steep decline in commission income to brokers and firms, many of which have furloughed staff and reduced hours and pay for the remaining “essential” workers.
Waiving the fees for 3Q will provide meaningful relief to the financially stressed CIE membership and help maintain the overall effectiveness of the CommGate research and marketing platform during the coronavirus emergency.
CommGate members who have paid their 2nd Quarter fees are eligible for the 3rd Quarter fee waiver.
For more information, please call (713) 629-1900 ext. 363.