Strategic Flashcards
Talk me through an example of an ongoing instruction which you have been involved in, relating to the provision of strategic advice?
In my example for the site in Horsham, I provided advice to the client on what offer they should take for the sites disposal. They had to decide whether choose an unconditional or conditional offer. Having looked at their aims and objectives, I advised that choosing the unconditional offer was the best choice, as it met their key aim of selling within a specific timescale.
How do you gain an understanding of your clients strategy and firm?
I make sure I do research on the client, for example, looking at their companies website getting an idea on their wider aims and objectives before sitting down and meeting with them. When I meet with them I discuss the more specified aims and objectives relating to the project.
How do you formulate strategic advice?
Firstly, for example for the work I carried out for Horsham, I started with understanding my clients values and their wider company objectives. I would then go on to establish a an understanding of the project objectives and how they fed into their wider aims and objectives, to understand their ultimate mission.
What have you learnt during your training about strategic real estate consultancy?
I have learnt the importance of providing your client with options, and running them through together, in order to establish a collaborative solution
How did the Horsham project affect the clients wider company objectives?
For Horsham they wanted to reinvest the finances back into the firm as the building had become surplus to requirement due to becoming fully remote during the COVID lockdown and they needed the funds asap as they were financially struggling
How did the Wimbledon project affect the clients wider company objectives?
They wanted to get the best possible price in order to make a profit, so timescales were not as restrictive.
What financial information have you used when advising clients on their real estate strategy?
I have analysed the clients financial plans and what assets they hold
Tell me about an example where you have had to prepare a report outlining strategic advice?
For the work I carried out in Coventry, I was responsible for stating and explaining the pros and cons of two options the client had with regards to one of their assets, when they were trying to make the best possible use out of it. I outlined my advice, which I had backed up by evidence to show the client, and help demonstrate my advice. I concluded that the asset just needed a refurbishment in order to increase the clients income.
How did you convince a client that your advice is the best solution for them?
As per my example in Essex, I presented the client with option appraisals and reports for their site, which I took them through step by step on how I reached my solution which I thought was best for them, as this would enable them to trust m decision by fully understanding my processes behind it.
What organisational information would you look for when providing strategic advice?
I would look into both property information and financial information (only say this if they ask for examples: the location and value of the asset, how many people they employ)
