“It has the potential to be pretty disruptive, especially if their relationship with landlords means they start to make inroads into the world of the larger mandates out there, and tenants start to use them instead of traditional agents,” London-based DeVono Cresa Head of Office Agency and Consultancy Chris Lewis said. News that WeWork launched WeWork Space Services has rocked the real estate brokering sector despite the company's insistence it's not a brokerage. Many are nervous about introducing clients to WeWork, concerned they will be cut out of subsequent transactions when the client expands or moves. WeWork, which is targeting the new leasing advice service at companies with 250 or fewer employers, doesn’t seem to be going after brokers' fee revenue. The company says it plans to use its own data and analytics tools to help brokers make better decisions for their clients. Nevertheless, it's feared that given WeWork’s size, the service will have an impact on brokerages.
News that WeWork launched WeWork Space Services has rocked the real estate brokering sector despite the company's insistence it's not a brokerage. Many are nervous about introducing clients to WeWork, concerned they will be cut out of subsequent transactions when the client expands or moves. WeWork, which is targeting the new leasing advice service at companies with 250 or fewer employers, doesn’t seem to be going after brokers' fee revenue. The company says it plans to use its own data and analytics tools to help brokers make better decisions for their clients. Nevertheless, it's feared that given WeWork’s size, the service will have an impact on brokerages.