Real estate can be seen as an information intensive industry where agents act as information intermediaries between buyers and sellers. The goods in question are commercial property available for lease.
Right back in the last decade, the real estate industry, specifically Denver’s commercial real estate industry became a news focal point due to an industry crisis. As a result, Denver commercial real estate companies were obliged to get into optimizing their activities and services in a much more competitive market.
The internet has brought immense changes to the way most companies/industries operate and conduct their business with their customers. The retail industry in real estate is among those industries that weren’t left out by this wind of change. Form the general perspective, the utilization of internet in the real estate industry has facilitated transactions between the different entities and has as well improved the transparency of activities of the real estate.
Many say the internet is actually an excellent means for creating and capturing value and has a tremendous impact on the industry, especially when it comes to Denver commercial real estate companies.
Nowadays, it is disheartening to realize to what extent the internet has downplayed the emphatic role played by these traditional real-estate agents who were accustomed to offering a full package of services to their buyers and services.
These services comprised of getting to market the seller’s home or even assist the buyer in searching for a property that suits his/her requirements, organizing open houses for the Sellers which was a means to showcase homes to buyers, sometime they would help prepare offers and assist during negotiation processes and not forgetting the coordination role they play sometimes to help close up deals.
However, these same changes have created a negative impact on these Denver commercial real estate companies as whole. The consequences range from damages caused to a single company to the entire sector of retail industry in real estate causing them to be driven out of business by more efficient online competition.
Additionally, although communication happens to be faster and easier over the internet, inasmuch as there isn’t any face-to-face communication, this often gives the impression of the company being impersonal and uncaring. Since communication between coworkers and managers is often done via email, the former tends to be demoralized and as a result becomes less productive and loses that enthusiasms to strive for the company’s success.
All being said and done, Denver commercial companies are reported to have been through the worst period over the last decade and have seen themselves cutting off so many jobs as a result of Low income level or in worst care scenario, bankruptcy. This can be termed “The Dark age of the retail industry in real estate.”