Agency Risks in Outsourcing Corporate Real Estate Functions

Karen Gibler and Roy Black

Journal of Real Estate Research, 2004, vol. 26, issue 2, 137-160

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.

Date: 2004
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DOI: 10.1080/10835547.2004.12091133

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