Only 27% of Commercial Real Estate Professionals Confident in Their Understanding of Tenant Sentiment, According to New Building Engines Survey
Tenant Relationship Management (TRM) Survey Benchmark Report unveils a growing disconnect between the high value of tenant sentiment, and the practices property operations teams utilize to understand and impact it.
Building Engines, a web and mobile property management software company, today announced the release of its Tenant Relationship Management (TRM) Survey Benchmark Report. Based on responses from hundreds of commercial real estate (CRE) industry professionals, the report indicates that 73% feel they lack or are only somewhat confident in their understanding of tenant sentiment right now.
“As fast as the workplace is changing, it’s little wonder that building owners and managers are struggling to understand how occupiers feel about their spaces,” says Phil Mobley, new head of research at Building Engines. “Both the demands on commercial space and the number of voices making those demands are increasing, changing the entire definition of ‘building management’ into what might more accurately be called ‘workplace management.’”
Survey respondents themselves noted that they believe that all tenant employees – not just the traditional single point-of-contact – are now their customers, with a majority (52%) indicating that they are only “somewhat” or “not at all” effective at capturing insightful sentiment from tenant employees beyond their primary point of contact. Just 20% feel confident that they understand tenant employee satisfaction.
“The report clearly shows that the commercial real estate market requires an expanded definition of their customer,” says Building Engines Vice President, Scott Sidman. “They are looking for new and improved service delivery methods that help them understand and realize the changing expectations of their clients, and be able to measure the impact of these efforts on overall sentiment. We’re excited to lead this initiative, partnering with our clients to better understand their needs and create truly innovative solutions.”
About Building Engines:
Building Engines SaaS (software-as-a-service) based web and mobile property management platform helps property operations teams improve service delivery, mitigate risk, connect with tenants, and maintain their properties using performance-based insights, including tenant satisfaction, gathered from day-to-day tasks.