Real estate management has always involved some of services. With the advent of sophisticated computer services and Internet-enabled web services, outsourcing in the real estate industry has grown significantly, leading to a greater level of specialization and increased efficiency in utilization rates and cost management.
Real estate developers, owners, lenders, tenants and suppliers all depend upon information technology to accelerate the benefits of their revenue collection (such as opening new locations early to generate rents earlier). Further, service providers can combine different types of expertise in complex management with financial planning and financial management to improve profitability, identify and manage risks and improve quality of service to tenants, employees and customers.
The real estate business has a long list of outsourced services:
- Design (otherwise known as architecture)
- Construction management
- Operations management, including management of the various trades providing specialized services in electrical, engineering,
- Space Utilization and Optimization
- Human Resources
- Finance and Accounting
- Procurement management