As we dive into 2017, the commercial real estate industry has its own crossroads, issues, challenges and new trends to deal with. With new technologies, trends and the growing competition for new talent, the CRE industry has a choice to make. We should choose to rise to the challenge and embrace these changes to become a stronger and more dynamic industry. Diane K. Danielson, COO of SVN International Corp., discusses why this is so important for 2017 in a recent blog post. We encourage you to read the excerpt below, then click the green button at the bottom of the article to read the rest.
CRE is at a Crossroads
The commercial real estate industry enters 2017 at a crossroads. Baby boomer retirement will continue and may even accelerate due to economic headwinds, potential slowdowns in infrastructure projects, and the continued influx of new technologies and CRE challenges. As a result, our industry is facing a brain drain at the same time competing industries are embroiled in a war for talent. Yet, with every challenge comes opportunity.
In 2017, the CRE industry can rise to the challenge by becoming more proactive and inclusive of untraditional CRE professionals. Whether they are millennials, women or minorities, these professionals can bring with them a variety of background experiences, new and different job skills, expanded networks of influence, and a diverse array of leadership styles. Why is this important in 2017?
1. Major infrastructure improvements take long-term planning and patience.
As a nation, we need to focus on our infrastructure; but large-scale infrastructure projects take years to plan and complete. That process can last longer than any single economic cycle or government administration, and we need CRE professionals prepared to plan for them and see them through to completion.
Our cities are experiencing unprecedented population growth. To handle this increase we are seeing a rise in place making, mixed-use, and urban infill developments that promote walkability and a live-work-play dynamic. The challenge is to resolve longstanding affordable housing and transportation issues. While we are also seeing a spillover urbanization effect in key suburbs, it’s this new group of urban professionals who are influencing the demographics and ultimately the design of our cities…