Does leadership matter in real estate?

In every industry, effective leadership is an important element of success. Leadership in real estate must capture a much broader audience to achieve desired results. On this blog, seasoned real estate CEO Gene Bernshtam shares his insights on why senior management leadership matters in the industry.

Compared to the total number of individual sites, the portfolio of a real estate firm holds more weight. A senior manager can only lead the firm to greater heights when they maintain a deliberate view of the overall real estate situation, along with a site-by-site analysis of the firm focusing on systems and internal staff. In cases of divestments, mergers, and acquisitions, the portfolio approach reigns supreme. Leaders should arm themselves with portfolio analysis, which informs them of the uses and costs of a property.

Flexibility—financial, physical, or organizational—helps a real estate firm adapt to the fast-changing needs of the society. Real estate leaders may need to change a few things on how they conduct business, as some companies own less and lease more nowadays. Only through effective leadership can a company reach a level of flexibility that is sound, intelligent, while still being highly profitable.

Some real estate professionals rely on gut feeling and small talks when it comes to forming real estate decisions. According to Gene Bernshtam, trained real estate leaders cultivate intelligence. Therefore, such leaders depend on accurate data that is incorporated into relevant information and then translated in the context of actual competitive and corporate scenarios.

Gene Bernshtam works in commercial real estate investment and development firm Avalon Holdings, LLC, which specializes in apartment buildings and mixed-use properties. For similar reads, click here.