ST. PETERSBURG, FL. --- Commercial real estate companies with an eye on long term sustainability should start preparing for the next recession now, says Real Estate Expert Rachel Elias Wein (top right photo), AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg.
Wein said now is the best time to prepare for the next real estate cycle.
“All of the data on the past few years is still fresh,” Wein said. “Companies should take a forensic look at what happened during this recession, see when they were first able to notice the decline in their own business and their own revenues, and what they were able to do with that,” she said.
“They need to ask themselves what they could have done had they moved more quickly,” she added.
“Real estate companies, especially partnerships and public companies vested in long-term viability, need to focus on one discipline for growth cycles and a second discipline for market retractions,” Wein explained.
“They need to determine which signals indicate a recessionary event, and then have the fortitude to enact their plans when that time comes,” she said.
“Hopefully, we won’t make the same mistakes again,” she added.
“Real estate is cyclical, and prudent managers understand that another recessionary event will occur. The most successful companies have the discipline to anticipate cycles, prepare for them and most importantly, execute.” Wein said.
For more information, contact
Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-386-9346, www.weinplusassociates.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com
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This is indeed the perfect time to strengthen the growth of the real estate business. Because of the decline and dropping of the business, one should be affirmative on how to stand out on the field. Having a well-planned deal within one company is somehow the good answer. By the way, thanks for this information Alex!
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