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Brokers' Association Hires Two Wharton Professors to Study Internet Threat

WASHINGTON, DC-The Society of Industrial and Office Realtors commissioned two Wharton professors to conduct the first rigorous study that will measure the commercial real estate brokerage industry and assess how the Internet and information technology are likely to affect it.

By Mike Cleary | Updated on October 06, 2000

WASHINGTON, DC-The Society of Industrial and Office Realtors Education Foundation has hired two Wharton professors to conduct a study on how Internet brokerage services can affect the commercial real estate brokerage industry.

While the study will investigate whether online services “disintermediate” brokers, it will be the first to make basic measurements of the fragmented brokerage industry. It will tackle questions such as how much space do brokers represent and how much value do brokers, and other real estate professionals, bring in the commercial real estate value chain, according to the Washington-based nonprofit trade association.

“It will be the first to define the metrics of the industry,” says Steve Blau, president-elect of SIOR and a trustee of the foundation. “There aren’t any good figures that says the commercial real estate industry or the property management segment or the asset management segment is a $10-billion or a $12-billion or a $42-billion industry.”

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