The real estate industry is constantly evolving, and in this context, every specialist, from those at the beginning of their career to managers, must devote time and resources to constantly improve themselves. The best way to thrive in this industry is to stay up-to-date on the latest trends and changes, anticipate the needs of our clients, and offer innovative solutions.
Costin Nistor, Managing Director,
Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate
A key aspect of this process is the ability to explain to clients why prices on the real estate market can fluctuate. Education is key to this. In order to do this successfully, we must understand not only the residential market, but also the real estate market as a whole. The real estate market covers a wide range of properties, including residential, commercial, industrial, and investment properties. This means that we must be aware of all the sub-domains of this market and how they interact with each other.
Industry professionals need to explain why the real estate market as a whole is much more complex than the residential market. In addition to the factors that affect housing, such as supply and demand for the residential market, or utility prices, quality standards, or rents for office buildings, we must also be aware of the economic, political, and social influences at the local, national, and global level. Also, the real estate market is closely linked to other sectors, such as finance and construction, which means that we need to expand our knowledge and collaborate with experts from related fields.
In conclusion, in order to succeed in the real estate industry, we need to make sure that we are always up-to-date on the latest developments and constantly improve our skills. Education and a deep understanding of the entire real estate market allow us to remain relevant and offer our clients real value, helping them to understand and take advantage of the opportunities that open up in this rapidly changing field.
Changes in the Asset & Property Management segment Just as crucial as in residential real estate sales or consulting in the commercial market, constant development and adaptation play an essential role in the Asset & Property Management segment as well. Here, we must face modern and current challenges, such as rising utility prices, fluctuations in maintenance costs, the constant emergence of new technologies, and the evolution of tenant-preferred standards, such as LEED, BREEAM, ESG, and digitalization. This means that at all times, we must come up with innovative solutions and add value to owners by streamlining building operations.
Best Practices
Case studies, validated by the market During the Coronavirus pandemic, when everything was closing down and everyone expected the real estate market to collapse, we managed to completely rent a 21,000 square meter office building in Cluj-Napoca, freshly inaugurated, but with an occupancy rate of less than 10%, and to gain the owner’s trust, so that we could take over the Property Management services.
As early as 2015, we implemented a financial data management solution for the properties we manage, which comes naturally as a legacy of our alliance partner, BNP Paribas Real Estate. I know it sounds hard to believe, but many of the professional companies in the market have only started implementing similar systems in the past 2-3 years, and even today there are companies that use Excel for financial property management.
We are aware of the importance of education in the real estate industry and we are committed to sharing our knowledge. That is why I am pleased to announce that I will be participating as a lecturer at BREC Academy, where I will have the opportunity to contribute to the education and training of real estate professionals in the Asset & Property Management segment. By sharing our experience, we hope to support the growth of the level of knowledge and quality in this constantly evolving sector.
More details about the autumn session of courses and about registration can be found here
BREC REAL ESTATE ACADEMY 2023-2024 EDITION
When? October 2023 – May 2024
What? 12 course modules, 48 practical sessions, case studies, financial simulations, and analysis of the most complex real estate projects in Romania.
Where? The courses are held in a hybrid format: in-person, two weekly sessions, after 7pm at Sky Hub, the event center of Sky Tower or online, through the Zoom platform.
