Too often, organizations move forward without hiring a 3rd party owner’s representative and find out that their schedule was unrealistic or that their budget in which they had approved internally was greatly underestimated.  By bringing in an outside owner’s representative who can act as an extension of an existing department or individual within the organization, can help ensure budget-busting and time-consuming reparations are avoided.

Hiring a 3rd party owner’s representative for real estate and construction projects can help assure an organization that their project will be delivered on time and within budget. A project could be as simple as planning a move, a renovation, or as complex as a complete out-of-the-ground project. No matter the complexity there are a number of ways in which time, resources, and costs can be saved.

How else will an owner’s representative add value to a project team?

  • Avoiding pitfalls – By guiding an organization through a project’s early planning process, an owner’s representative can help avoid the costly mistakes and change orders that frequently occur when the company tries to manage the project on its own without recent and relevant experience.
  • Thinking outside the box – From years of experience with hundreds of different kinds of projects, a well-regarded owner’s rep. firm can apply to any future project proven cost-saving strategies that have already been delivered.
  • Understanding of market conditions –  An owner’s representative who has recent and relevant experience will have a clear understanding of the current marketplace and can share cost effective strategies for items such as IT, furniture, AV, etc.

Related: 10 Most Expensive Cities for Construction 

Bringing in an owner’s representative for real estate and construction projects will help you accomplish a project that is delivered on time and within budget. That is not all. Your owner’s representative should also help you think outside the box on cost-saving strategies, avoid traditional pitfalls, and help guide you through market conditions to ensure the greatest level of success.

Related: Video of Apples 2 Billion Dollar HQ

Stephen Fean
Stephen Fean is the Vice President of Business Development at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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