Commercial Real Estate Customer Services
December 07, 2017
As 2017 wraps up, we are looking forward to another new year that will bring innovation, change and greater opportunities to serve our clients.
Here are some trends that currently affect the business of commercial real estate and tenant representation.
1) Commercial tenants need flexibility in their commercial real estate because their businesses must be more flexible. Driven by advances in technology, the amount of space needed per worker has fallen. Technology also allows flexible scheduling and work from remote locations, further decreasing the need for physical space. Workers expectations for flexibility are impacted by technology, too. If work can be produced and delivered remotely, why shouldn’t it? Tenants must constantly respond to the changing demands on their businesses, and so must we who serve them.
2) Tenants expect service as part of their commercial real estate package. A commercial landlord is no longer a collector of rents. Tenants expect an unprecedented level of customer service. This phenomenon is a direct result of the rise of workspaces like WeWork, Grind, Industrious and similar coworking environments. In a coworking environment, tenants have access to a menu of amenities that range from discounts on business services to career development opportunities to social activities, all without leaving the office. Commercial tenants in more traditional environments are influenced by this phenomenon and have greater expectations for conveniences, too.
3) Change and innovation drives the way all types of products and services are delivered. For example, as online shopping has become more ubiquitous, online retailers are building brick and mortar showrooms. Rather than simply a place to complete a transaction, brands like Tesla and Coach see their retail spaces as places for customers to interact with their brand. Increasingly commercial real estate tenants expect a brand experience in their work environment, too.
These three trends are both a result of technology and a reaction to it. Technology has changed
- where and how work can be produced.
- the commercial real estate needs of companies and created an entire industry aimed at providing workspace and social engagement for workers in the gig economy.
- how customers expect to interact with products and services. Instead of simply purchasing a handbag or renting office space, people expect to create a relationship with the brand.
I expect to see these trends to continue into the foreseeable future. What are the opportunities you see for your business to take advantage of technology and innovation?
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