How do you make your real estate strategy sustainable?

1 Assess your portfolio

The first step to make your real estate strategy sustainable is to assess your current portfolio and identify its strengths and weaknesses. How diversified is your portfolio in terms of property types, locations, markets, and tenants? How resilient is your portfolio to external shocks, such as market fluctuations, regulatory changes, or natural disasters? How efficient is your portfolio in terms of energy consumption, water usage, waste management, and carbon footprint? By answering these questions, you can determine where you need to improve and where you can leverage your existing assets.

2 Align with your values

The second step to make your real estate strategy sustainable is to align your investments with your values and objectives. What are your short-term and long-term goals as a real estate investor? What are your personal and professional values and principles? How do you want to contribute to the social and environmental well-being of your communities? By defining your vision and mission, you can align your strategy with your values and create a positive impact with your real estate activities.

3 Adopt best practices

The third step to make your real estate strategy sustainable is to adopt best practices and standards in the industry. There are many resources and tools available to help you implement sustainability measures and practices in your real estate operations. For example, you can use green building certifications, such as LEED, BREEAM, or Green Star, to measure and improve the environmental performance of your properties. You can also use sustainability reporting frameworks, such as GRI, SASB, or TCFD, to disclose and communicate your social and environmental impacts and risks. By adopting best practices, you can enhance your reputation, credibility, and competitiveness in the market.

4 Monitor and measure

The fourth step to make your real estate strategy sustainable is to monitor and measure your progress and performance. You need to track and analyze your sustainability indicators and metrics, such as energy efficiency, water conservation, waste reduction, tenant satisfaction, community engagement, and financial returns. You also need to compare your performance with your peers, benchmarks, and targets, and identify gaps and opportunities for improvement. By monitoring and measuring your results, you can evaluate your effectiveness, efficiency, and accountability in your real estate strategy.

5 Learn and improve

The fifth step to make your real estate strategy sustainable is to learn and improve from your experience and feedback. You need to constantly update your knowledge and skills in the real estate industry, especially in the areas of sustainability, innovation, and technology. You also need to seek feedback from your stakeholders, such as tenants, investors, partners, regulators, and customers, and listen to their needs, expectations, and suggestions. By learning and improving, you can adapt to the changing market conditions, customer preferences, and sustainability challenges in the real estate industry.

6 Collaborate and network

The sixth step to make your real estate strategy sustainable is to collaborate and network with other players in the industry. You need to build and maintain strong relationships with your stakeholders, and leverage their expertise, resources, and influence. You also need to join and participate in industry associations, forums, and events, and share your insights, best practices, and lessons learned. By collaborating and networking, you can create synergies, partnerships, and opportunities for your real estate strategy.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?