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Essay / Research Paper Abstract
This 5-page paper concerns two practices within the real estate industry that are characterized as planning and control related. In examining the commercial real estate industry, we've described quality managemente and forecasting. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTreaind.rtf
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Unformatted sample text from the term paper:
the one hand, the industry relies on happy customers and clients to drive its success. On the other hand, the industry relies on supply and demand -- if there
is too much supply, demand, and as a result, prices will shrink. While very few members of the real estate community can control cycles, they can plan and control
other aspects of real estate -- including quality management and forecasting. Quality management is a control aspect, while forecasting falls into the role of planning.
This paper will examine these planning and control factors as they pertain to the commercial real estate area, focusing on property management and sales. First
however, we will provide a brief overview of the industry and then connect the planning and control factors to this overview. The
slumping economy has had a definite impact on commercial real estate and will continue to do so. For example, many experts are not anticipating that the office market will cover
until 2004 -- and it will likely be the end of 2006 before the office vacancy rate falls to 10 percent (Riggs, 2003). Rents within this particular market have fallen,
and values will continue to fall (Riggs, 2003). in the meantime, industrial properties seem to be holding steady, while retail properties are still offering some good opportunities (Riggs, 2003). Although
the economy is starting to slowly move from the slump, and consumer confidence slowly continues to increase, these trends are generally not reflected in real estate until six to 12
months after recovery occurs (Riggs, 2003). During this depressed economic cycle, it is important for real estate professionals, particularly property managers, to
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