Michael Crews Development Competition
Now Viewing Michael Crews Development's competition in: Commercial Real Estate Brokerage and Management
Call Preparation Questions
Customers, Marketing, Pricing, Competition
Does the company work mainly for landlords or for tenants? - Many companies do both.
Does the company depend on a few large clients? - Big property owners may provide the majority of a company's business.
Does the company specialize in downtown or suburban markets? - Downtown markets are usually more expensive and competitive than suburban.
What types of marketing does the company use? - Print and Internet advertising are the most common marketing vehicles.
Competitive Landscape
Demand, which is driven by the volume of commercial real estate transactions, is heavily influenced by real estate vacancy rates. The profitability of individual companies depends on efficient operations. Large companies have advantages in performing a full range of services in multiple markets. Small companies can compete effectively by specializing in local markets. Average annual revenue per worker is over $200,000 for brokers and agents, but under $100,000 for property managers, reflecting the more labor-intensive nature of the business.
Full Industry Overview For Commercial Real Estate Brokerage and Management
Business Challenges
CRITICAL ISSUES
Demand for Services Cyclical - Demand for commercial real estate services can vary sharply from year to year. The volume of brokered transactions and the amount of space under management can fall more than 10 percent per year. Demand for commercial real estate is closely tied to the economy.
Demand Depends on Local Conditions - Lease and vacancy rates and rents can vary in different markets. Office space may lease for $20 per square foot in Omaha and $90 in New York. Local vacancy rates can double or triple in a year, depending on the strength of the local economy.
Industries Where Michael Crews Development Competes
- Construction
- Construction & Design Services
- Residential Construction
- Construction & Design Services
- Financial Services
- Real Estate
- Commercial Property Investment
