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Agency Risks in Outsourcing Corporate Real Estate Functions

Author

Listed:
  • Karen M. Gibler

    (Georgia State University, PO BOX 4020, Atlanta, GA 30302-4612)

  • Roy T. Black

Abstract

Firms outsource business functions to focus on core competencies and cut operating expenses. However, companies must consider agency costs in determining the optimal staffing/outsourcing balance. Analysis of the views of corporate real estate managers and real estate service providers indicate that although they share a common vision of the role of corporate real estate, providers focus more on traditional real estate tasks than on corporate business strategy. The optimum balance of staffing/outsourcing may consist of a corporate real estate staff that understands the overall corporate strategy and devotes its resources to strategic planning, program development, contracting, and monitoring outsourced tasks.

Suggested Citation

  • Karen M. Gibler & Roy T. Black, 2004. "Agency Risks in Outsourcing Corporate Real Estate Functions," Journal of Real Estate Research, American Real Estate Society, vol. 26(2), pages 137-160.
    • Handle: RePEc:jre:issued:v:26:n:2:2004:p:137-160
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    Citations

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    Cited by:

    1. Zifeng Feng & William G. Hardin & Zhonghua Wu, 2022. "Employee productivity and REIT performance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 59-88, March.
    2. Kiran Kumar Naidu & Chris Heywood & Richard Reed, 2006. "The Development of Corporate Real Estate Practices in India: A Survey of CRE Professionals," International Real Estate Review, Global Social Science Institute, vol. 9(1), pages 153-166.
    3. Anna-Liisa Lindholm & Karen M. Gibler & Kari I. Levainen, 2006. "Modelling the Value Adding Attributes of Real Estate to the Wealth Maximization of the Firm," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 445-476.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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