The Strategic Real Estate Framework: Processes, Linkages, Decisions

Abstract

The intention of this work is to provide a contemporary perspective for understanding the real estate markets that can guide the involvement and decisions for all sectors of society's direct and indirect involvements with the real estate process, resources and market participants. Comprehension of the multifaceted, multidimensional, substantial segment of the economy known as real estate is best accomplished through a strategic framework. Because the real estate discipline lacks coherence and concurrence about what is the essence of real estate and what are the operative paradigms for comprehending and making order of the discipline, there is need for a strategic framework that is simultaneously synthesizing, integrating and comprehensive. The concept of the real estate strategy framework both provides the basis for gaining insights into the real estate discipline and also presents a means to connect a strategic approach to real estate with the act of real estate decision-making. By understanding the real estate process, those strategic influences on transactions that follow from the real estate process can be identified. This framework can enhance the quality, reliability and prudence of real estate decisions. By understanding these interdependencies and linkages, more effective decisionmaking concerning real estate interests and the objectives of participants in the real estate markets can be achieved.