Real Estate

How to Define Leadership in Real Estate?

Table of Contents

Introduction3

Statement of the Problem5

Literature Review5

Corporate real estate7

Technological change: alternative perspectives12

A socio-technical framework19

Evolution of CREM and added value20

Balancing between interests24

Pinpointing the added value of CREM28

Knowledge of the business and management processes32

Economies of scale in acquisition of products and services32

Collection of scarce expertise33

Confidentiality on and availability of information34

Formal and informal network34

Risk sharing34

Speed of (trans)actions35

Providing qualitative services for competitive prices35

Conclusions36

References39

How to Define Leadership in Real Estate?

Introduction

The most important consideration is the company chosen for this study which is Century 21 Home and Investment in Downey, California. The company sells properties in the Southeast sections of Los Angeles County and Orange County. Sales produced are mainly from single family residences and commercial type investment dealing with large corporations and individuals. The main stay of the business and what is often called the “bread and butter” of the business is the residential single family homes. This paper is meant to key in on that particular aspect of the real estate company's business processes (Freedman, 2010). Once that is accomplished a strategic plan for the workings and the techniques that will be used to enhance the business process will be completed (Velt, 2010).

In Century 21 Home and Investment, changing leadership can create more shifts and deeper changes within its walls. Usually, a new change in leadership comes at a time when Century 21 Home and Investment needs a new vision, or plan in its operating systems. Going through any type of leadership change (Mumford, Zaccaro, Harding, Jacobs & Fleishman, 2000) can create tension among employees of Century 21 Home and Investment and make them also feel unsure and threatened with their job security and their position. In Century 21 Home and Investment, communication is an important during these times of change, but leaders of Century 21 Home and Investment do not take time to think about. Unfortunately, leaders of Century 21 Home and Investment are quick to declare change surrounding the Century 21 Home and Investment; however leaders seem to forget the impact that these changes will have on the Century 21 Home and Investment as a whole.

Century 21 Home and Investment must start with working from the sales agent's position up to management and then back down again to insure this success. Being able to ask questions and give feedback to everyone will enhance the final strategy plan and will give each employee the feeling of input and self worth. The sole purpose of this in-depth research is the result of the company's low production and lack of enthusiasm of the sales agents. The market has been difficult for most agencies and with a little tweaking this can be remedied within a year or maybe sooner. In the real estate business, sellers and buyers are at a premium and markets can be captured with a little more effort. When there is a plan and policies to follow, most individuals will buy into them to a point. Receiving the proper feedback from management and the frontline staff ...