Today's property market scenario is not amenable to
companies that do not present a professional front. Clients today are far more
aware than ever before, and have become very aware of the difference between
specialists and amateurs. Keeping this in mind, it is important to know what
makes a real estate services firm truly professional in this new environment.
The inherent nature of the real estate business makes it
very different from other business lines. Since it is difficult for the average
person to successfully make the transition into the real estate business, a
significant challenge for a professional property services firm is sourcing and
training the right professionals.
Another challenge is developing a business plan or strategy
that factors in the needs of the market. In today's scenario, it is surprising
that there is still so much emphasis on brokerage, when in fact the required
services bouquet is much larger than that.
A truly professional real estate company needs to chart all
aspects of the real estate market and have an entire array of service
offerings. Considering the needs of the market today, the most successful real
estate service firms offer every conceivable service - including research,
consultancy, transactions, project and development services, integrated
facility management, property management, capital markets, residential, hotels
and retail advisory.
Nor is just offering such services sufficient - because of
the high competitiveness prevalent today, the company should have operatives
that have considerable expertise and experience in each segment. I don't know
how many of you will see it my way, but I have always believed that the most
successful businesspeople surround themselves with people that are smarter than
themselves.
This is very true in real estate, where it takes large teams
of very talented people to find opportunities, zero in on them, groom clients
and finally close transactions. If you don't have the right people in
sufficient numbers and rely solely on a small core group of experts, your
business will crumble.
No comments:
Post a Comment