new business models for real estate
The commercial real estate industry is undergoing a structural change that will affect every facet of the market and reshape the entire ecosystem that has existed for 50 years or more. This change is not just a function of the natural, cyclical real estate cycle but a set of structural, fabric changes that are the by-product of a world where technology is leading to fundamental changes in how businesses operate, the work people do, and especially how and where they do it.
During half or full day sessions we explore:
The five technological megatrends impacting on real estate
- The Cloud
- The Internet of Things
- AI & rise of Cognitive Computing
The changing nature of demand
- How new demands are being enabled by technology
- The effect of generational change
- The six modalities of occupation (the core types of occupier)
- New wants and needs: ‘The Imaginarium’, less, better, more flexible space
- Changing attitudes towards ownership vis a vis access
- The changing nature of ‘Work’ and what tomorrow’s work will look like
- The rise of a ‘hospitality’ mindset
- The changing look of the enterprise - freelancing & the contingent workforce
- City vs Suburb
The changing nature of supply
- From rent collector to service provider
- The need for corporate cultural change - are current real estate companies ‘fit for purpose’?
- The ‘death of the lease’
- The new ‘value proposition’
- The importance of Brand
- The changing Office ‘product’
- The rise of Live/Work
- ‘Space as a Service’ - and impact on asset management
- Operational change - role of AI, Robotics, IoT, Drones
- Key changes in construction: flexibility, pre-fab, new materials, automation, robotics
Stranded Assets: the environmental implications of change
- New and different modalities of occupation, in terms of type and location, will lead to significant amounts of space becoming ‘stranded assets’ - buildings that no longer can support the demands of the market. What to do with this functionally obsolescent space?
Business Models for the new world
- Short leases will require underwriting
- Valuation mechanics will need to change (real estate as a business, not a bond)
- Financing will change
- Crowdfunding: viable or the next financial scandal?
- Business Model Canvas (or Lean Canvas) for this new world?
- Every new sensor is a new business model (occupier analysis, remote predictive maintenance etc)
- Automation of Investment market - supply/demand matching using extensive data feeds
- Automation of Leasing through transformation in understanding of ‘the customer’
- City wide analysis of occupier modalities
- Asset management: Building a ‘new world’ portfolio
The way forward: how does all of this work for:
- Supply siders
- Demand siders
- The rest of the ecosystem (Brokers etc)
In short, we help you formulate strategies to succeed in a world where:
The real estate industry
is no longer
in the real estate business
What'll you learn:
How the fundamental supply and demand drivers impacting on the real estate are changing fundamentally, and will in turn upend valuations and the utility of space. You will learn what areas to focus on, the technologies and societal trends that really matter, and a framework for thinking what to do about them. The fundamental aim is to address how asset portfolios should be adjusted to take account of this new world.
Who should attend:
This course addresses the demand and supply sides of the real estate industry; anyone owning or occupying space needs to understand how the marketplace is set to change. In particular if you are involved in making choices about what space to build, buy, let or invest in, this is for you.