It started with a Tweet.
— Dukelong (@dukelong) July 1, 2016
How much do we suck? Let me count the ways.
Almost by default commercial real estate is a numbers business.
Lot size, Rent rolls, Lease terms, Cash Flow, Maintenance Costs, Expenses, TI, NOI, etc., etc., etc. etc.
You get it. I get it. We all get it.
Commercial real estate is all about justifying and defining a deal any deal with data and numbers.
It is what we do.
A million times I have said ” data+ location = commercial real estate.”
And there is absolutely nothing wrong or invaluable with that approach.
It’s working .
It works now and will continue forever as far as I am concerned.
Are we missing something that may have just as much value?
I think so.
The buildings or structures themselves can and do create a narrative.
That narrative then creates content.
In publishing, art, and communication, content is the information and experience(s) directed towards an end-user or audience.
Did you get this part?
“content is the information and experience(s) directed towards an end-user or audience.”
Where have you heard that before?
It sure as hell has not been anywhere near commercial real estate.
Look at the definition one more time.
We are PISS POOR at this.
There is so much opportunity in just that one statement.
(This is usually the part of the article where I jump on the soapbox and go into a rant and rip into the status quo.)
How about this?
The data itself is and will always be mostly the same.
You can call some of it proprietary if you want but that really means nothing if you think about it.
There may even be an agreed upon data standard. And why not?
How about a content standard?
What if the content became proprietary? (Someone already figured part of this out and they sue your ass every chance they get.)
Who gets to define that standard?
Right now for better or worse you do.
Wait a minute did you get that?
YOU have the all the power in the world to define what the proprietary standard is for commercial real estate content.
That has a real tangible value.
A tangible value to you, your clients and your potential new clients.
I would take that power seriously and use it.
Use it to your advantage.
Are You Missing The Obvious? One Of The Most Valuable Assets You Have Is Not Data.
+1 How about this? Data + Location + Content = Commercial Real Estate.
+1+1 You control how much of that equation? That’s called #CRE POWER!