Transforming CRE value through relationship management

Abstract

PurposeTo provide a roadmap for corporate real estate (CRE) directors to effect change in the way they deliver services through enhanced relationships with their “customers,” the users of CRE.Design/methodology/approachPrevious studies and discussions of customer relationship management are combined with the authors' extensive experience to make a case for formalized change management processes and analyze specific methods for enhancing the effectiveness of these processes.FindingsRelationship management integrates real estate processes into larger corporate processes, converting real estate opportunities into competitive advantages. The transition from a reactive to a proactive mode of service is aided by adoption of new mind sets and new skills sets, including tools and processes for communicating within the organization, enhanced financial/analytical acumen, and metrics for determining successful outcomes.Research limitations/implicationsEvery CRE department faces unique challenges and opportunities which cannot be fully addressed in a paper designed for broad applicability.Practical implicationsCRE directors will recognize the challenges and opportunities they face and will learn about specific actions and initiatives they can implement to enhance their effectiveness though internal customer relationship management.Originality/valueApplicability of change and customer relationship management processes to the CRE environment is a new area of focus and is mostly uncharted territory. This roadmap delves deeper than previous papers into specific methods for aligning real estate processes with the “voice of the customer” to further corporate objectives.