A lot of things are happening in the corporate and commercial real estate sectors. News articles regarding recent commercial corporate real estate transactions in New York have surfaced. Century 21 Real Estate was awarded the number one fastest-growing real estate franchise, and several more articles showed concerns about bankruptcy, fraud, and debt in the corporate real estate space.
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However, what should we take away from the concept of corporate real estate? Let's discuss the important aspects of corporate real estate from general standpoints to understand better how we can approach and dissect the topic into its smaller constituents.
Franchising is typically understood as a surefire business package that would allow both new and old entrants into the business space with an effective and market-tested business model. This is why many people are flocking to the major market leaders in trending industries such as the food industry, tech industry, and online shopping industry. They attempt to acquire franchise rights or, at the very least, learn to mimic the effective strategies that made them so successful to this day.
In the world of real estate, franchising can be seen as a viable, long-term approach to scalable growth. This notion is justified by the following:
- The collection and unification of financial assets and resources, commonly from marketing and technology funding projects
- Tested and proven systems and approaches that have been in the market for several years
- Recognition by consumers and potential investors of a world-renowned brand or brand image
- Major opportunities for business opportunities such as licensing, partnership, and added franchising
Whether it be retail, commercial, or corporate, the real estate sector seems to be inching closer to becoming a fully-realized seller’s market. This is a condition in which demand far outweighs the supply, giving sellers almost unlimited control over the pricing of certain real estate items.
The waiting list of buyers across the globe is growing and growing day by day, making it difficult for these prospective buyers to scope out a steal-price piece of real estate. The difficulty is apparent, especially when we observe highly developed real estate areas and projects built primarily for conversion into commercial purposes. As a result, end-users have to shell out more money on top of their intended budget for the purchase.
Digital transformation is now the king of buzzwords. We are in an age where the pandemic has wiped off most of the traditional functions and activities. We shifted from normalcy into an almost brand new perspective, and this does not exclusively apply to the corporate real estate space. We can see the pandemic’s effects around the world in virtually every aspect of life.
Keep this in mind when choosing the correct corporate real estate broker. Look for someone who has the technical know-how to adapt to the changes we are experiencing and the changes that are yet to be experienced.
For companies and corporations that are not yet caught up to speed, real estate management, just like almost every other industry, is shifting more and more to digital platforms. From small businesses to long-standing market leaders, and even to those innovative start-up companies as well as up-and-comers, now is the time to understand and take full control of the digital space and how it can benefit you in terms of corporate real estate management.
For starters, business owners and top-level decision-makers should learn more about corporate real estate technology and how systems can be integrated or can replace more traditional strategies or platforms. These new and refreshed systems can assist with documentation, accounting, automation tasks, and many more relevant activities, significantly boosting company output and employee productivity.
What excites you about the real estate digital age?
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