A good sign that the real estate industry is recovering permanently is the increased use of commercial real estate services. New brokerages are being opened in the United States. The recovery is started and will be durable.
One huge property management service, Australia’s UGL Ltd. plans to branch out into North and South America. Other large brokerage firms are acquiring some of the smaller businesses. Plans are in the works for shopping malls, office buildings and other large commercial businesses are being made. Sales and leases are taking place on a world wide scope.
The largest such firms, Jones Lang LaSalle, Inc., for one will find some competition as these new companies seek to hire some of their key personnel. Unless the current recovery is a fluke, they will do very well and may become giants in the industry.
U.S. commercial brokerage firms are doing well now in the recovering commercial market. In Europe and Asia, the industry is struggling with lowered property values. One of the largest commercial firms considers the U.S. to be the largest opportunity offered in the industry.
One Canadian company that entered the U.S. three years ago is functioning in San Francisco and New York. and other major cities. There is approximately $10-$15 trillion in properties investors can purchase and half of them are located in the U.S. The industry has 801 firms active as of 2011, professional analysts report.
There are six firms doing business globally and of those, three did 35 percent of all brokered sales in 2011. An excess of $326 billion was the total amount handled by the three. When Grubb & Ellis went bankrupt, it was acquired by BGC, the brokerage firm that also bought Newmark and later merged it with Grubb. Now they have 100 offices and plan to hire new employees.
According to reports made by experts, operating in America will enable your firm to operate on the global market. Commercial real estate services will serve hospitals, Shopping centers, office buildings and school campuses. Other correlate services include fund managements, energy management and cleaning services.