Commercial Investment Real Estate September/October 2017 | Page 41
While technology has opened the
lines of communication, nothing can
replace personal contact.
Achieve Business Growth Increase Access
According to the National Asso-
ciation of Realtors’ 2016 Q4 Com-
mercial Real Estate Market Survey,
the volume of investment sales has
accelerated, with 69 percent of Real-
tors reporting closed transactions.
As the economy remains on the
upswing and the real estate mar-
ket capitalizes, finding new ways to
extend commercial real estate pro-
fessionals’ reach to out-of-market
areas becomes a critical strategy for
building business.
It’s no coincidence 88 percent of
the top 50 companies in the Forbes
Global 2000 are business aircraft
users, according to a study by NEXA
Advisors LLC. Business growth is the
No. 1 reason companies invest in
business aviation. Their employ-
ees can arrive where and when they
need to be. They also recognize the
immeasurable value of a face-to-face
meeting.
Relationships drive business in
the commercial real estate industry. Not all business occurs in Los
Angeles, Chicago, or New York
City. Often, clients are based in
smaller markets, such as Eden Prai-
rie, Minn. Private aviation provides
increased access to secondary and
tertiary areas. In fact, commercial
flights can only access roughly 500
airports, while private flights have
access to more than 5,000 airports.
When time and business are on
the line, the ability to arrive at the
desired location quickly is desirable.
Often what spurs companies to first
use business aviation, specifically
charter, is an issue professionals
didn’t anticipate, such as taking a
last-minute trip to survey a new job
or visit a client during a crisis.
When examining the cost of a
charter service, it’s surprisingly close
to the cost of f lying commercial.
Last-minute commercial flights can
range from $600 to $1,200, round-
trip. By using a charter option to go
the same distance, the total cost of
this flight for up to six people comes
to about $6,500 or $1,083 each.
Boost Talent Acquisition
According to ManpowerGroup, 40
percent of all global employers
report talent shortages. As these
work force shor t-
ages continue to
expand and affect
the industry, companies
must have initiatives in place to
attract and retain top talent.
The opportunity to travel is an
effective recruitment tool. How-
ever, relentless business travel can
wear down even the most dedicated
employee and contribute to the turn-
over of talented individuals.
Business aviation gives employees
the ability to take a business trip and
return in time for dinner. They will
experience less burnout.
CCIM.COM
If a business isn’t looking to hire,
but instead wants to capitalize on
the time and bandwidth of its cur-
rent team members, business avia-
tion can allow these employees to
use their time to build business and
create winning strategies.
According to a National Business
Aviation Association survey, passen-
gers are 20 percent more productive
on board a company aircraft than in
the office. This is particularly impor-
tant as the use of laptops, iPads, and
other business tools on commercial
f lights comes under scrutiny for
safety reasons. When commercial
real estate professionals fly private,
they can work on any device of their
choosing.
Helping employees create true
work and life balance leads to con-
tinuous growth for businesses by
creating a happier, more productive
workforce.
Maximize Efficiencies
Whether looking for efficiencies
in time or budget, business avia-
tion helps commercial real estate
professionals do more with less.
For example, once last-minute
pricing, rental cars, and hotels are
accounted for, making the jump to
flying private is often a cost-effec-
tive alternative to the commercial
route. And while the value of being
there can’t be directly quantified,
it is worthwhile when cultivating
relationships and often can result
in increased revenue opportunities
through deals that may not close
without travel.
Business aviation allows commer-
cial real estate professionals to wisely
invest their time, capital, and peo-
ple. Whether through the purchase
of an aircraft or reservations on a
charter, employees go places quickly
and effectively, while growing the
business.
Angelo Fiataruolo is general manager
of KCAC Aviation in Olathe, Kan.
Contact him at [email protected].
September | October 2017
39
the travel process, use their time effi-
ciently, and experience increased busi-
ness growth.