12 Aug 5 Factors to Consider When Investing in an Office Real Estate Space
This post originally appeared on Marketplace Advertiser, Alliance CRE Advisor’s Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Real estate offices are often considered a lesser-valued investment for companies by people outside the industry. However, the truth is that office placement and design are among the most important things for any real estate company. Obviously, if you are dealing in property investments and finance, the office you operate from should reflect the caliber of your business.
Choosing the right location, among other factors for a real estate office, can be a complicated matter. You need to understand how to get the best value for your investment, as with all things. In this blog post we will present five factors for you to consider as you calculate the ideal location for your office.
5 Considerations for Getting the Perfect Real Estate Office
If you wish to invest in office space, you need to get maximum promotional value from this property. And the best way to get this done is to get an office where your brand name, and possibly logo, are clearly visible. This will help you create your presence in the local market and also make an impression on any parties who wish to visit your office. This is the first consideration you should make for your office, since it will give you constant market exposure and will reflect on your long-term plans and prospects as well.
The real estate market is among the most competitive out there. So, when you are establishing your office, you need to consider the tactics and practices your competitors are using to promote their brand image in the market. This also has to do with the real estate domain you specialize in. For example, residential real estate companies benefit from having an urban placement, preferably near high-value apartment complexes and condominiums. Similarly, commercial real estate agents get the best clientele by being situated in prestigious commercial centers and SEZs
3. Employee Convenience
Your office location needs to be convenient for most of your employees. It should also be reached easily by using public transportation. This is important because it will reflect on the job satisfaction and reputation of your company in online employee networks. Practically speaking, it is not possible to make commuting convenient for everyone. However, it is good to try and make it convenient for the largest cross-section of people working for you. So, consider the locations where most of your employees can commute easily and consolidate that with other considerations to decide on the ideal place.
Your in-office facilities are going to make a considerable impact on your overall finances as well as your employee satisfaction. If you plan to entertain investors and partners in your office often, then your facilities will become even more important. Now there are many considerations to make for facilities. For example, parking for persons with physical disabilities, government approved emergency measures like a fire exit, automatically sliding doors, quality of bathrooms and overall office heating and cooling designs are some of the considerations you should make. These will ultimately raise your overall price. But they may also impact your overall business value propositions.
5. Long-Term Plans
Your long term goals should be at the center of all the office space hunting you are going to do. You do not want to change your office every 8 to 10 years. Barring radical market changes, your office should remain at one location for a good amount of time. This is important for both reputation and also for financial prudence. So, investing in a locality or region where you can derive maximum value from all the considerations mentioned above is the best choice. Be sure you factor in potential property values before you invest, as well as any large-scale development projects which may be initiated in the following years.
Choosing a real estate office means you are essentially anchoring your business in the local area. So, you need to be very careful about where you are going to lay your roots. Real estate businesses gain as much from their online presence as their physical offices. So, choosing an ideal location based on all the factors mentioned above is the best way to invest your capital.
RSS Feed provided by theBrokerList Blog – theBrokerList for commercial real estate brokers (cre) and 5 Factors to Consider When Investing in an Office Real Estate Space was written by Alliance CRE Advisors.