Real Estate in America - Essay Example

No doubt, this gap means that in general management of public property frequently falls short of consequences in meeting rule objectives. No doubt, planners could play a better role in public real estate management, but cannot efficiently manage properties themselves or connect in winning joint growth with no more official training in real estate finance. MethodologyThe methodology here is a direct topic-by-topic comparison of property management activity in the private sector with that in the public sector.

The evidence for the private sector comes from five recently published surveys of real estate management practices among non-real-estate firms in the United States. This literature on corporate real estate management surveys organization of the real estate management function, performance evaluation, record and information management, rules for choice on property gaining and nature, role and efficiency of the real estate decision-making, and real estate activities. The consensus is that corporate real estate assets are generally undermanaged.

Real estate management is seen to be an emerging discipline. A review of the literature provided specific questions to use in this comparative study.OutcomeResults from this research quantify and reinforce the prevailing notion that private corporations are more sophisticated real estate managers than are government entities. The intragovernmental comparison reveals that regional agencies are generally more expert than municipalities. in addition, the municipalities and local agencies surveyed connect in many of the similar real estate activities that better non-real-estate corporations do, but frequently with no formal monetary analysis tools (Cowart, Larry. 2002). The insinuation is that public property managers may require additional education in real estate practices.

This requires represents a chance for planners with knowledge and attention to assessing growth deals ex-ante, who could willingly be trained to take on more general real-estate management everyday jobs. Conclusion According to the expert analysis, Real property management, in adding up to public-private combined growth, is a rising field in the private sector. In the attention of increased legislative competence and reduced monetary risk, the trend is likely to be extended to the public sector as well (Gale, Jeffrey, 2004, 23-34).

Placing public deal-making in the broader background of a well urbanized public possessions management system is probable equally to decrease the costs and to add to revenue for municipal and local agencies. Though, the skill of public property managers, particularly for municipalities, appears to lag considerably at the back that of their private sector complement (Frieden, Bernard. 2002, 423-8).