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You are here: Home1 / Spencer Burton
Spencer Burton

About Spencer Burton

Spencer Burton is the Co-Founder and CEO of CRE Agents, a Vertical AI Agentic Platform changing how work gets done in commercial real estate. With over 20 years of experience as a fiduciary, principal, and founder in real estate, he is a recognized expert in applying AI to CRE. His mission at CRE Agents is to give people back life’s most precious asset—time. By pushing repetitive tasks to AI-driven “digital coworkers”, CRE Agents empowers professionals to focus on high-impact work, driving better returns and more fulfilling careers.

Prior to CRE Agents, Spencer served as President and founding team member of Stablewood, a multi-strategy institutional real estate investor leveraging AI, machine learning, and data analytics. At Stablewood, he co-developed an AI-enabled digital coworker that underwrote and created investment memos for 50,000+ CRE transactions, equating to four years of work for 20 full-time analysts.

Spencer is also the co-creator of Adventures in CRE (A.CRE), the industry’s leading platform for financial modeling, education, AI learning, and career development. Through A.CRE, he’s trained thousands of professionals at some of the world’s top companies and universities.

Spencer has built a reputation as an innovator and thought leader in CRE. He has held senior roles at top institutional firms, helped launch two successful startups, and deployed automation across brokerage, development, acquisitions, debt production, and management.

Spencer holds a Bachelor’s in International Affairs with an emphasis in economics from Florida State University and a Master’s in Real Estate with a concentration in finance from Cornell University.

Entries by Spencer Burton

Real Estate Financial Modeling, Investment Analysis, Special Topics, A.CRE All-in-One (Ai1) Model, Ai1 Tutorials

Understanding Treatment of Time 0 in the All-in-One Model

I received a very astute question/concern from a user of our All-in-One(Ai1) model in our Ai1 Support Forum late last month. I initially set out to answer the question in writing, but the more I thought about my response, the more I concluded a video was necessary to fully explain the methodology here. Below find a […]

by Spencer Burton
General, RE Education, Careers, Real Estate Financial Modeling

A.CRE User Insights Survey

We need your help! As Adventures in CRE (A.CRE) has grown and evolved over the years, so have the needs of our readers. The challenge for Michael and I as we contemplate what new content to create, is knowing what resources will be most beneficial to the majority of you. So, to help us better understand […]

by Spencer Burton
A.CRE All-in-One (Ai1) Model, Real Estate Financial Modeling, Ai1 Tutorials

All-in-One (Ai1) Walkthrough #10 – Underwriting a Value-Add Office Investment

This walkthrough, our tenth in the series, takes you through the entire process of underwriting a hypothetical office value-add opportunity using the All-in-One (Ai1) Model. This walkthrough comes as a response to a question we recently received in the Ai1 Support Forum. Here is the question: We are exploring the route of acquiring a value […]

by Spencer Burton
Compensation Statistics, Careers

Real Estate Salary and Benefits (United States 2017)

Several years ago, we published a careers in real estate series where we discussed the various job sectors, business fields, and job functions that exist in the real estate industry. Additionally, we broke down compensation in real estate (salary + bonus) by position and level for 2014. Since then, each year we’ve followed up that series with […]

by Spencer Burton
RE Education, Careers, Real Estate Financial Modeling

The Latest Adventures in CRE Initiatives

As has been our habit since starting Adventures in CRE a few years back, we try to keep our readers updated on our progress and direction. Many of you have been with us since the start and we’ve personally communicated with hundreds of you. So we think its important to regularly cue you in on […]

by Spencer Burton
Real Estate Financial Modeling, A.CRE All-in-One (Ai1) Model, Ai1 Tutorials

All-in-One (Ai1) Walkthrough #9 – Print Mode and the IRR Matrix Report

This walkthrough, our ninth in the series, touches on the newly added (beta v0.5.3) ‘Print Mode’ and IRR Matrix Report in our All-in-One (Ai1) model. Print mode further enhances the printability of the model, while the IRR Matrix Report adds another tool to help you assess prospective investments. Video Walkthrough – Using ‘Print Mode’ Video Walkthrough […]

by Spencer Burton
Real Estate Financial Modeling, A.CRE All-in-One (Ai1) Model, Ai1 Tutorials

All-in-One (Ai1) Walkthrough #8 – Tenancy Analysis Report for Office, Retail, and Industrial

This walkthrough, our eight in the series, explains how the Tenancy Analysis report for office, retail, and industrial real estate underwriting works in our All-in-One (Ai1) model. The Tenancy Analysis report includes a tenant rollover schedule, a graph illustrating cumulative expiration of net rentable area by year, a summary of weighted average lease term and remaining […]

by Spencer Burton
Real Estate Financial Modeling, A.CRE All-in-One (Ai1) Model

New Support Forum for the All-in-One (Ai1) Underwriting Model

Since releasing the first beta version of the All-in-One Underwriting Model, we’ve fielded hundreds of emails related to the model. Inquiries range from questions to feature requests to thank yous. We welcome the chance to interact with our readers, and acknowledge that the model will only become as good as the feedback we receive from […]

by Spencer Burton
Careers, Jobs, A.CRE Job Board

Jobs of the Week – Based on Candidate Engagement

Frequently Asked Questions about A.CRE Jobs of the Week – Based on Candidate Engagement

by Spencer Burton
Real Estate Financial Modeling, A.CRE All-in-One (Ai1) Model, Ai1 Tutorials

All-in-One (Ai1) Walkthrough #7 – Ground Lease Valuation Module

This walkthrough, our seventh in the series, explains how the Ground Lease Valuation Module works and how to implement this tool into your analysis. The All-in-One Model includes two methods to account for a ground lease. The first is to simply include the ground lease payments in the operating expenses (above NOI), thus reducing the value […]

by Spencer Burton
Careers, Resume

Why I’m REFM Excel for Real Estate Certified

In the unlikely event you’ve visited my LinkedIn page lately or happened upon the REFM Certification Holders, you might have noticed that over the last year I’ve completed my REFM Excel for Real Estate certification. In coming across this obscure fact you might have further wondered – uh, why? I mean, I already have a full-time […]

by Spencer Burton
Careers

What CRE Professionals Do

A series of posts on what commercial real estate professionals do. These posts cover a variety of job functions including acquisitions, development, asset management, consulting, investment banking, advisory, academia, and much more. Frequently Asked Questions about the “What CRE Professionals Do” Series

by Spencer Burton
A.CRE All-in-One (Ai1) Model, Real Estate Financial Modeling, Ai1 Tutorials

All-in-One (Ai1) Walkthrough #6 – Underwriting a Hypothetical Multifamily Acquisition

This walkthrough, our sixth in the series, takes you through the entire process of underwriting an apartment acquisition opportunity using the All-in-One Model’s new multifamily module. I’ve created hypothetical assumptions for this exercise written out in PDF format (download link below) and then use those assumptions to assess an appropriate purchase price for this opportunity. […]

by Spencer Burton
Careers, Jobs, A.CRE Job Board

Introducing the Adventures in CRE Job Board

Michael and I are excited to announce the release of the Adventures in CRE Job Board. This effort is the culmination of almost of a year’s worth of deliberation, planning, design, and networking effort. And while this is only the beginning (we’re calling this phase our “Early Launch”), we’re nonetheless enthusiastic about the potential for this new […]

by Spencer Burton
A.CRE All-in-One (Ai1) Model

A Note About The Limitations of Microsoft Excel in Modeling Real Estate

I think its important to point out that my All-in-One (Ai1) Underwriting Model for Real Estate Development and Acquisition is not a surefire replacement for your non-Excel valuation/underwriting solutions. In fact, it’s likely you (or your employer) chose to use another tool in large part because of Excel limitations in real estate modeling. And Excel […]

by Spencer Burton
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