Perks of a Boutique Firm

March 14, 2023

 

What are the perks or benefits of working with a boutique investment firm?

In the world of real estate development, boutique firms are quickly becoming a popular choice for those looking for a more personalized and specialized approach to their projects. Unlike larger firms that tend to take on a broad range of projects, boutique firms focus on a specific niche asset class, often with a particular geographical focus.

These firms are small, nimble, and able to adapt to the ever-changing landscape of the real estate industry.

Here are five benefits of working with a boutique firm that makes them the secret sauce in real estate development:

Faster Project Delivery Time

One of the significant benefits of working with a boutique firm is their ability to deliver projects at a faster rate than larger firms. Due to their smaller size, boutique firms have a more streamlined decision-making process, allowing them to quickly address issues and make decisions. This can lead to a faster turnaround time on projects, allowing clients to realize a return on investment more quickly. At Mortar Group, we typically deliver projects months faster than industry because of the company’s speed in making decisions since it’s both the developer, contractor and architect.

Technical and Zoning Expertise

Boutique firms specialize in a specific niche, allowing them to become experts in their field. This expertise often extends to technical and zoning knowledge, allowing boutique firms to navigate complex regulatory environments and identify unique development opportunities. By working with a boutique firm, clients can take advantage of this specialized knowledge, resulting in a more significant development potential.

Accurate Due Diligence

Due diligence is a critical component of real estate development. Boutique firms have a thorough understanding of the local market, allowing them to conduct more accurate due diligence on potential projects. This can include analyzing market trends, identifying potential challenges, and assessing the potential return on investment. With accurate due diligence, clients can make informed decisions about their investments.

Value-Driven Approach

Boutique firms often stick to what they know, focusing on a particular niche and geographic area. This allows them to identify and capitalize on unique value opportunities. By focusing on their area of expertise, boutique firms can find value that larger firms may overlook. By working with a boutique firm, clients can take advantage of this value-driven approach, resulting in a higher return on investment. At Mortar Group, we find value better because we know our local markets –  we stick to what we know; we’re multifamily experts with local NYC knowledge.

Reputation and Brand Recognition

Finally, boutique firms often have an established reputation and brand recognition in their local market. This can be especially valuable when it comes time to sell assets. By working with a boutique firm, clients can take advantage of their reputation and brand recognition, resulting in a higher selling price for their assets.

What’s the secret sauce? They offer a personalized and specialized approach, resulting in faster project delivery times, technical and zoning expertise, accurate due diligence, a value-driven approach, and reputation and brand recognition. By working with a boutique firm, clients can take advantage of these benefits, resulting in a higher return on investment and a more successful real estate development project.