Final Analysis
All in all, there are evidently various routes that our company can take to address the needs of the millennial generation, which will make up a large percentage of the market that we intend to target in the coming years. However, CBRE must differentiate itself in these efforts in order to compete with these companies that are already pursuing these tactics.
Recommendations As the millennial generation continues to graduate from college and enter their first jobs, they will continue to seek housing that meets a certain criterion they’ve created for themselves. In order to meet the challenge of remaining a top leader in real estate services, especially development, I offer the following recommendations to target the millennial generation:
• Acquiring Smaller Developers: As mentioned earlier, our largest competitor, Pulte Homes, has been able to gain a competitive advantage because they acquired another leading developer. Therefore, I recommend that we begin expansion by acquiring a smaller development company,
as well. We can offer them the name of CBRE while simultaneously allowing us accelerated market access. Though we already have …show more content…
Firstly, millennials are constantly on social media and downloading the newest applications on their phones that provide them convenience. Therefore, we can leverage the power of social media to manage and market properties for millennials. Since they don’t have as much time on their hands or prefer to complete tasks virtually, we can offer them the option to virtually tour an apartment. This way, we can still reach them but without the hassle of having to meet with each of them individually to tour apartments. Secondly, we can hire The Ascott Limited company as a contractor for new developments so that all our new apartment buildings offer smart home technology for
All in all, there are evidently various routes that our company can take to address the needs of the millennial generation, which will make up a large percentage of the market that we intend to target in the coming years. However, CBRE must differentiate itself in these efforts in order to compete with these companies that are already pursuing these tactics.
Recommendations As the millennial generation continues to graduate from college and enter their first jobs, they will continue to seek housing that meets a certain criterion they’ve created for themselves. In order to meet the challenge of remaining a top leader in real estate services, especially development, I offer the following recommendations to target the millennial generation:
• Acquiring Smaller Developers: As mentioned earlier, our largest competitor, Pulte Homes, has been able to gain a competitive advantage because they acquired another leading developer. Therefore, I recommend that we begin expansion by acquiring a smaller development company,
as well. We can offer them the name of CBRE while simultaneously allowing us accelerated market access. Though we already have …show more content…
Firstly, millennials are constantly on social media and downloading the newest applications on their phones that provide them convenience. Therefore, we can leverage the power of social media to manage and market properties for millennials. Since they don’t have as much time on their hands or prefer to complete tasks virtually, we can offer them the option to virtually tour an apartment. This way, we can still reach them but without the hassle of having to meet with each of them individually to tour apartments. Secondly, we can hire The Ascott Limited company as a contractor for new developments so that all our new apartment buildings offer smart home technology for