If you want to be great at real estate, you need to understand the smallest aspects of real estate. What does this mean?
- To understand location, you need to understand the people.
- To understand workplace, you need to understand how a single person works.
- To understand a lease, you need to understand accounting.
- To understand a recommendation, you need to understand the incentives.
It’s not often that people want to understand the lowly workstation. That little place where someone shows up to do work. Often times the discussion devolves into one about seniority and the size/location reflecting respect.
It usually starts with productivity – namely, what features are required for a person to be productive? But productivity is that elusive topic that has never received a good definition. No one can adequately put together a realistic way of figuring this out.
If you don’t understand how the workstation will be used, you’ll never be able to figure out the layout and size to put into a building. If you don’t understand how employees utilize space, you’ll never know how many you need for your employees. If you don’t understand how the workstation fits with corporate culture, you’ll inadvertently lead to unexpected change.
Who needs to understand these component elements? Anyone that is involved in the build-out of new space. If the transaction manager doesn’t understand, they will get the wrong amount of space. If the workplace designer doesn’t understand, they’ll design the wrong office. If the business leads don’t understand, they can’t manage change to their teams.
Fundamentals.