This Is a Public Service Announcement... If you're a real estate professional, you should listen to Richard Kincaid's October 9 webcast presentation to securities analysts and investors in Boston. Why? Because Kincaid is the Chief Operating Officer of Equity Office, the nation's largest owner of office buildings, and Equity Office recently announced a major "strategic and organizational shift," resulting from a large consulting assignment by Bain & Company. (On Equity Office's home page, click "Investor Relations" and then "Conference Calls"; this webcast will be available until November 9.)

Is bigger better? Does scale matter? You bet, according to Kincaid, and Equity Office intends to prove that its strategy and platform provide a "superior operating model." Translation: We will provide higher quality service at lower cost. For example, you'll hear Kincaid say that Equity Office plans to save $50 million through better procurement practices alone. And you'll hear Sam Zell (I think it's his voice) in the Q&A tossing out prospective $2 per square foot savings on nationwide average expenses of $11 per square foot.

So how is this going to happen? Check out Kincaid's third slide, and you'll see Equity Office's plans to shift from its "historic focus" to a "new operating strategy." From building-centric to portfolio-centric. From an emphasis on maximizing rents to maximizing occupancy and retention. From a high level of service to all customers to tailored customer service. And so on.

Here's the new broker strategy. Create a broker recognition program to honor top brokers nationwide at a special event. Simplify the leasing process by standardizing online. Pay full commissions on renewals in all markets. Pay 100% of the commission within 48 hours of lease execution, rather than 50% on signing and 50% on move-in. Holy moly. Now you've got my attention.

PikeNet Forum... Mark your calendar for next year's gathering in Chicago on April 2-3, 2003. ... "Get Real: Execute Your Strategy (or How to Get Things Done)." ... Yes, we're headed to Equity Office's home turf.

--Peter Pike