Triple Play is a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.
John Sims is chairman and CEO of Marketlogics, a real estate market research company. The Long Valley-based firm provides custom advisory and consulting services to assist developers, home builders, lenders, investors and municipalities in making the best decisions for their companies and communities.
We asked John for three reasons why advisory services are key to maximizing the financial return on real estate investments:
Understanding market dynamics — from local and regional perspectives — combined with analytical tools and data sources, is essential for turning potential real estate opportunities into financially feasible developments.
Market research assists developers and builders in their long-term planning efforts and helps determine what cities, counties and ZIP codes may be on the brink of growth and in need of new real estate products.
Expert evaluation can determine the feasibility of a project; identify and analyze risks and opportunities; and determine why an existing project is struggling and suggest steps for better return on investment.