Real Estate
Facility managers must understand real estate principles and practices and how they contribute to support business strategy. Responsibilities include occupancy planning, lease management, and aligning property assets with organizational needs.
Subdomains of Real Estate
Master Planning
Facility managers help shape long-term real estate strategies that support business goals. They develop master plans with site-specific recommendations to guide future real estate decisions and ensure assets are used wisely.
Real Estate Management
This subdomain covers the full life cycle of managing real estate assets. Managers evaluate property investments, conduct due diligence, perform property inspections, and oversee lease agreements. Their role includes making sure real estate supports operations at the lowest cost over time, while ensuring contracts and building conditions meet legal and financial standards.
Functional Programming & Planning
Facility managers work with experts to define requirements and design space that best fits its purpose. This includes selecting the right space types and layouts to support flexibility, tracking how space is used, and maximizing workplace efficiency with metrics like workspace utilization.