Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Thursday, February 20, 2014

The Importance of Finding a Niche In CRE And How To Find One

The Importance of Finding a Niche In CRE And How To Find One
As attractive as the "all in one / jack of all trades" commercial real estate professional sounds, the truth is that success in commercial real estate comes from focusing on an aspect of the market and becoming an expert in that niche.

Why Pick A  Commercial Real Estate Niche
Focusing on a commercial real estate niche allows a professional to become extremely well versed, networked and skilled on a certain aspect of the industry. Furthermore, becoming an expert can also make a professional a more attractive candidate for clients looking for a specific commercial real estate service. The more expertise and respect that you can build up in a niche, the more that your business and advice will be sought after. While doing business in certain markets, you may find that certain niches overlap. For instance, mixed-use development is becoming more sought after in urban and even suburban communities. Because of this, it is also a good idea to be well educated in niches that fringe yours and it's always a good idea to be open to opportunities that may present themselves in other niches.

Some CRE Niches
In case you were curious as to what kind of niches there are within commercial real estate, here are some examples:
  • Land
  • Industrial
  • Office
  • Retail
  • Multifamily
  • Healthcare
  • Investment Services
  • Property and Asset Management
  • Maintenance Solutions
  • Development
How to Pick Your Niche
It's not only to pick a niche that will be valuable to the industry. It's also important to find a niche that suits you. This can be done by focusing on needs of the marketplace finding areas of need that align with your strengths. As mentioned before, it's important to keep an eye out for opportunity. Your future niche could not yet exist, could not yet have a name. At some point, a demand will present itself that will naturally cause new niches to form.

From our construction to multifamily, we are proud to have assembled experts in a variety of niches to make up Block Real Estate Services. It is by developing our services around niches that we have built such a strong portfolio of offerings.

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