Magazine article Journal of Property Management

Get.Net Ready: When the Going Gets Tough, the Tough Improve Their Business Model

Magazine article Journal of Property Management

Get.Net Ready: When the Going Gets Tough, the Tough Improve Their Business Model

Article excerpt

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Vacancies are up, rent growth is down, and the bottom line continues to sag in a business environment characterized by continued uncertainty and a prolonged bear market.

While the real estate industry has been relatively free of red ink for the last few years, it is now retrenching and bracing for softer demand in all sectors. The pressure is on to improve earnings in a slowing economy, resulting in a need for new business models and technology solutions. Leading service firms recognize they must invest in Web-based techniques and tools in order to improve their operations.

During this economic downturn, prudent real estate organizations are asking themselves the following questions:

* Do we have the right technology in place to enable organizational growth, productivity and profitability?

* How can we better align our people, processes and technologies to achieve our business objectives?

* What industry best practices related to technology can we employ to improve our organization's bottom line, function-by-function, task-by-task?

When developing a technology business model for your organization, consider the following strategies:

* Invest in technology that will result in the greatest ROI. …

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