Rachel Wein of WeinPlus: In Slow Growth Market, Specialization sets Companies apart from the Competition

ST. PETERSBURG, Fla. --- Look for real estate owners and developers to specialize more and emphasize their strongest talents as the economy continues to grow slowly, says one top Florida management consultant.

Rachel Elias Wein, AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg, said that’s the most logical solution for developers in a slow-growth economy.

“The universe of real estate development projects is not increasing,” Wein said. “Real estate companies who want to maintain market share are going to have to focus on what they do best — what distinguishes them from the competition.”

Wein said one of her clients has focused efforts on specializing in sensitive projects likely to engender political controversy.

“They have a track record of developing solutions that address the needs of the local community and neighbors while maintaining focus on tenants and the bottom line,” Wein said.

“Another client specializes in redevelopment of older retail centers, making improvements, re-tenanting and making older centers shine like new,” she said.

“If you’re dealing in a commodity business, find a way to make your service unique to differentiate yourself and your company from the competition,” Wein said.