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Brokers are warming up to co-working operators. The latest Apto National Broker Buzz poll shows that brokers are less concerned about brands like WeWork than they were a year ago. According to the survey, 56% of respondents said that co-working is not a threat to the industry, up from 49% last year, while 40% said that the brand was somewhat of a threat, down from 44% last year. Only 4% of respondents said that it is a major threat.

“With familiarity comes a higher comfort level,” Tanner McGraw, founder of Apto, tells GlobeSt.com. “The longer WeWork is around, the less fearful brokers are of it. We’re also seeing greater understanding and acceptance of the notion of real estate as a service, which is the larger dynamic that WeWork represents. In so many aspects of the economy, goods and services are being procured on demand, so the idea of real estate as an on-demand service is less shocking than it was a year or two ago.”

Brokers are also adopting co-working operators as clients, negotiating the lease deals in office buildings. They are also helping landlords launch flexile office lease programs in office buildings as well to capture those clients. “Brokers are realizing there’s money to be made representing landlords and tenants participating in the short-term flex office space market,” says McGraw.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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