Is your Commercial Real Estate Broker drilling deep enough?
July 10, 2018
Collecting reams of data is nothing new – large landlords have been doing it for years. What’s different now is the availability of low cost software that finally makes analyzing the data cost effective. At last, it’s possible to use that information to create knowledge that can be used for making sound decisions that improve building performance. The ability to analyze data is impacted by available staff, their expertise, and the time and budget that can be allocated to analyze the data, interpret the results and take appropriate action.
Facilities manager have an ever-wider range of tools and options that can be used to manage buildings more effectively and reduce energy costs. These tools allow for better regulation of heating and cooling that can impact worker productivity. For example, by tracking and monitoring complaints that parts of the building are either too hot or too cold, facilities managers can more effectively pinpoint and correct problems in HVAC systems. Monitoring water usage patterns can lead to quicker discovery of leaks or other issues to resolve them, avoiding costly leaks and repairs. An effective program of collecting and analyzing data can point to problem areas and increase the effectiveness of preventive maintenance, reducing maintenance costs over time.
Institutional landlords with large portfolios of buildings currently collect data and are striving to make more effective use of it. More facilities managers are taking advantage of data analytics of one form or another.
If you are currently working with a broker, ask if he or she has met with the property managers of your finalist buildings to check out how they currently use
- Dashboards
- Performance monitoring
- Utility monitoring
- Trends
- Survey results
and any other tools available to help their tenants. If you get a blank look, call me. You and your firm deserve better representation.
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