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What's Your Gen-X Business Model?

Want attitude? Listen to Gen-Xer Chris Steins of URBAN INSIGHT, an Internet consulting firm in Los Angeles. "As a representative of the Gen-X crowd that is now starting to purchase residential real estate, and on behalf of four colleagues who have all had similar experiences, the current residential real estate process will die, if for no other reason than we will never engage in another non-Internet-based transaction." ... Yep, Steins focuses his comments on residential real estate. But imagine when his corporate analogs express exactly the same sentiments. It's gotta happen.

Let's go to another extreme. Here's an e-mail from an (unnamed!) veteran broker, "What about a string of separate boutique brokerages forming an alliance? The top apartment broker in each of the northeastern apartment markets comes from a different company. What if each of these top brokers formed a virtual company to go after a portfolio sale? This virtual company could have its own web site, fliers, everything customized to the owner/seller's desires. In fact this streamlined company having saved money in office space, phones and faxes (by being virtual) could hire a 5th Avenue, Manhattan-based PR/Advertising firm and set a new standard." ... Oh-oh.

I'll give the last word on dot-com service models to Bill Jansen with the Pacific Union Real Estate Group in San Francisco. "The winners will be those who redefine themselves with their client needs at the core of their business model. Technology, then, becomes the ever-changing enabler: Facilitating communication, increasing operating efficiencies, decreasing operating costs, improving service. In essence, redefining the value relationship with your client. The resulting savings in time and money for the broker, and his clients, will determine who survives."

Comments? ... So, as an owner, manager or broker, how are you going to use the Internet to help you mediate your next transaction? How will you connect to Gen-X? ... Send your ideas to me , and I'll report more in a future Dispatch.

PikeNet 2000... Check out the draft program for PikeNet 2000, "Commercial Real Estate Internet Strategies" -- Apr 5-7, 2000, in San Francisco... www.pikenet.com/pikenet2000 ... Meet the players and exchange ideas for net gain! Hey, we may even have some Gen-Xers there.

--Peter