Are consultants actually providing a lot of value in RE? Good career path?
Recently found out all consulting firms have Real Estate arms. Of course, I am exposed to a lot of information on property management, development, repe, brokerage, etc. Still, I had never heard of consulting (for RE specifically) until a month ago. I asked a question about Park Hill recently, and it seems like they do the capital raising part while firms like McKinsey, EY, PwC, etc., consult. "We pair extensive real estate and functional expertise with deep tenant knowledge across sectors to help organizations reimagine the role they play in space acquisition, development, and use." - McKinsey website.
Don't companies with specialized real estate arms already have this knowledge? Or get their advisory from a full RE service company like JLL, CBRE, etc.?? I have talked to two people (info calls) at RE consulting teams, and they vaguely speak about their projects. I wanted to know if anyone/firm consistently uses consulting for something and why.
You're basically asking if consultants have any value at all.
Also, presumably you might hire a consulting firm to help you if you own your own corporate office space, or need to upsize, etc. Doesn't have to be limited to explicitly CRE firms needing advice.
But to the first sentence, always remember that the only reason consultants exist is so that executives can cover their own ass about decisions they were going to make anyway. It gives the veneer of good governance.
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