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Introduction
Does real estate still have the value that it had, or is the valuation of real estate going to change due to surprising products and services, innovative business models, other market strategies, innovative ways of organizing and managing in (real estate) markets? Innovation revolves around good facilities in an attractive and stimulating environment. Take disruptive real estate. The driving forces behind these developments are new technology, manoeuvrability, organizing differently and management. These forces greatly influence the valuation of real estate. Established names such as Nokia, Kodak, Blockbuster, Oad, Free Record Shop, Hyves and V&D are collapsing and, for example, Hema, Shell, hotel chains and health-care institutions are the least affected. Disruptive organizations like Amazon, Zalando, Uber and Facebook, who are going to develop a complete residential area in California, Tesla and its competitor Faraday Future, who wants to surpass Tesla in everything, respond to viability in the environment. This viability determines the competitiveness and thus affects current and future valuation of real estate. Blockchain, a distributed database that maintains a growing list of data items and that is hardened against manipulation and counterfeiting, plays an important role in that. Notaries and brokers have already encountered this during the recent period, and it will have further impact on property owners, financiers, users, builders, brokers, notaries and the land registry. The real estate world is therefore at a turning point of transition: a profound and irreversible tilting of (real estate) systems in society, and “technological opportunities that we can hardly anticipate” (Dijkstra, 2017). The International Monetary Fund also acknowledges the major possible consequences of changes in our financial and thus real estate system and held a meeting at the highest level in April 2017 about Blockchain, chaired by Christine Lagarde.
Viability determines competitiveness strength and generally has four building blocks for its development:
looking outward (external focus);
following good examples closely (connecting leadership);
self-organizing units (flexible work organization); and
modelling and generating (flexible processes and IT).
To develop that viability, a number of competencies are Important, such as continuous insight into customer behaviour, process-oriented steering, dynamic skills, strategic alliances and networks and meaningfulness. Disruption is usually associated with the development and application of new technology by organizations. Characteristic of these organizations are often a small headquarters,...