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How to Make Your Real Estate Development Firm Indispensable
Real estate development is a capital-intensive, high-risk business that’s extremely competitive, which makes launching a new company within the space daunting. Establishing a reputation with owners and investors isn’t easy.
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How to Speed Up Real Estate Development Reporting
Reporting is an essential part of real estate development but also a source of frustration. Drafting draw request packages for complex projects can involve hundreds of thousands of documents, and gathering that information is very labor-intensive. Then there’s all the manual work involved with inputting bid, invoice, and change order data from countless emails onto…
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3 Ways Owner’s Rep Leaders Can Position their Firm as an Industry Frontrunner
Becoming an industry leader in the commercial real estate development space is challenging because it is a highly competitive and capital-intensive field. And with the United States on the brink of a recession, that goal is even more elusive as lenders face increased federal government scrutiny and buyers feel pressure to pull out of deals amid rising…
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3 Ways Real Estate Data Analytics Help Developers Earn Higher Returns
In 2018, McKinsey & Co. published an article explaining why a data-driven approach to real estate development is better than relying on gut feelings. For example, the consulting firm noted that artificial intelligence-powered systems could provide project managers with predictive insights with an accuracy rate of 90 percent. Because those insights are generated in real-time…
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How Real Estate Development Project Managers Earn Stakeholder Trust
Stakeholder trust plays a critical role in the success or failure of a real estate development project manager. Senior leadership must have faith in their project manager’s competence and capabilities from the design phase to the end of construction.
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4 Key Reasons to Maintain Commercial Real Estate Historical Data
The success or failure of a commercial real estate project can depend on the development team’s level of preparation. If an organization begins a project without its ducks in a row, it will inevitably run into delays, cost overruns, and other serious problems. And that’s not even considering external factors like rising inflationary pressure and…
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What Is a Draw Request? Everything You Need to Know
Construction projects can be notoriously hard to manage both in terms of timeframe and budget. In fact, an estimated 69% of projects run overtime.
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How to Uncomplicate Commercial Real Estate Project Management
It’s no secret that commercial real estate projects require razor-sharp planning and flawless execution to make the whole process worthwhile.
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The Hidden Impact of Manual Administration in Real Estate Development
Glassdoor defines administrative work as “duties related to maintaining an office setting. These duties vary widely from workplace to workplace but most often include scheduling appointments, answering phones, greeting visitors, and maintaining organized file systems for the organization.”