Transformational Leadership in the
New Age of Real Estate Revealed in New IREM® Publication
Includes 100 Predictions
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Chicago, April 4, 2012 - A new publication that lays out the likely future of real estate and outlines important success factors for the decade ahead, is now available from the Institute of Real Estate Management (IREM®). Titled “Transformational Leadership in the New Age of Real Estate,” and authored by real estate industry expert and visionary Christopher Lee, the publication provides a blueprint for developing the transformational leaders that companies who wish to remain or become players in the professional real estate industry arena need to survive and thrive.
Readers will come away with a better understanding of:
- The urgent need to respond to rapidly changing market conditions, competitive challenges, and shifting customer demands and expectations; in other words, the necessity to look ahead and be positioned to seize the opportunities presented by the “new normal.”
- Why individuals who are asked to lead during the next decade must not simply manage people or processes - they must be visionary and promote individual entrepreneurship.
More specifically, they will learn why, in the new age of real estate, companies must:
As well, and most importantly, they will learn the “how tos” of creating a dynamic company environment that nurtures success.
- Foster an environment that rewards creativity and innovation
- Remain flexible, diverse, and responsive
- Create momentum, a sense of urgency, pride and trust within the organization
- Attract the best talent and strategic partners
- Adopt and fully integrate leading-edge technology throughout the organization
- Create a differentiating story, brand, and top-of-mind awareness
- Hardwire the voice of the customer into everything
FEATURES 100 PREDICTIONS
The book concludes with 100 often-provocative industry related predictions, among them:
- Of the regional/local real estate service firms that existed in 2010, 30 percent will disappear by 2020. The number of public real estate firms will decline by 35 to 45 percent.
- Successful real estate companies will generate as much or more revenues from selling knowledge, access to customer bases and non-asset services as they now receive from management fees. A “tenant multiple” metric will emerge in valuation methodologies.
- A rating system will emerge for buildings based on the level of safety and security provided, on the energy efficiency and greening attributes of the building, and on the level of tenant satisfaction.
- An abundance of capital will likely keep cap rates low through 2017.
- A global eBay look-alike will be created for the real estate industry.
The book’s predictions are drawn from the “Futurescan” process evolved by CEL & Associates, a leading real estate industry consulting firm of which Christopher Lee is president and CEO. Futurescan involves an ongoing review of nearly 75 different publications, tracking a number of select indexes, extensive review of hundreds of research reports, annual interviews with approximately 600 real estate leaders, and much more. Indeed, it provides the foundation for formulating forecasts and predictions.
PRICE AND ORDERING INFORMATION
Transformational Leadership in the New Age of Real Estate, is $39.95 for IREM® Members and $49.95 for non-members (plus shipping and applicable state sales tax). To order, contact the IREM® Customer Relations Department at 430 N. Michigan Ave., Chicago, IL 60611, or call toll-free at (800) 837-0706, ext. 4650. Credit card orders (VISA, MasterCard, American Express, and Discover) can be faxed toll-free to (800) 338-4736 or e-mailed to firstname.lastname@example.org. Internet users can order the publication online at www.irembooks.org
ABOUT THE INSTITUTE OF REAL ESTATE MANAGEMENT
The Institute of Real Estate Management (IREM®) is an international community of real estate managers across all property types dedicated to ethical business practices and maximizing the value of investment real estate. An affiliate of the National Association of Realtors®, IREM has been a trusted source for knowledge, advocacy and networking for the real estate management community for more than 80 years.
IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors and has 80 U.S. chapters, 14 international chapters, and several other partnerships around the globe. Worldwide membership includes nearly 18,000 individual members and over 535 corporate members.
IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager® (CPM®) designation, the Accredited Residential Manager® (ARM®) certification, the Accredited Commercial Manager (ACoM) certification, and the Accredited Management Organization® (AMO®) accreditation. These esteemed credentials certify competence and professionalism for those engaged in real estate management. IREM also offers CPM® Candidate, Associate, Student, and Academic memberships. All members are bound by the strictly enforced IREM® Code of Professional Ethics.
Collectively, CPM® Members in the United States manage nearly $2 trillion in real estate assets, including 11.4 million residential units and 10.4 billion net square feet of commercial space. To learn more about the IREM and its chapter network, call (800) 837-0706, ext. 4650 (outside the U.S. call (312) 329-6000) or visit www.irem.org.