Author: Phil Mobley
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The High Cost of Maintaining the Status Quo in Commercial Property Management
In today’s economic climate, commercial property managers are painfully aware of the need to run their properties optimally and efficiently in order to maximize net operating income. Yet many CRE organizations stick with the status quo – still relying on inadequate or even outdated property management software and legacy processes that manage their properties ‘well enough.’ Making changes can seem…
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Managing a Transformed Workplace Requires a New Skill Set. Are You Prepared?
If you told me 15 years ago as I sat in my 8’ x 10’ cubicle that one day I’d be working in a completely open office with only about 2 ‘ x 4 ‘ of ‘personal space’ on my desk and no walls surrounding me, I probably wouldn’t have believed you – and definitely would’ve been more than slightly annoyed…
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CRE Needs a B2C Mindset
The relationship between the landlord and tenant at a commercial building is quintessentially business-to-business (B2B). The business of operating a building requires generating revenue, and that means attracting rent-paying tenants. Similarly, tenant occupiers need space for their teams to meet, collaborate, and do the work that fulfills each one’s corporate mission. Historically for occupiers, location was always the first decision…
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To Be a CRE Tech Achiever, Act Fast
Recently, I participated in a fascinating webinar about CRE Technology. One reason it was fascinating is that my co-presenters—Henry Chamberlain, President and Chief Operating officer at BOMA International and Coleen Spratt, Managing Director of Real Estate Management Services at Colliers International—are bright lights in the industry. Another is, of course, the topic itself. The basis of our discussion was “Commercial Real Estate…
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The Importance of Tenant Retention and the True Cost of Losing a Tenant
A tactful tenant retention strategy is one of the most important strategies that a building owner or manager can implement. This is why focusing on keeping your tenants happy is critically important to your business. At the end of the day, happy tenants drive profit. This is probably an obvious statement to you and I’m sure you…
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Get Ready for the Next Era of Tenant Communications
Building Owners and Managers: Meet Tenants Where They Are Understatement of the millennium (so far): The ways we communicate with each other have changed. Just look at the sheer volume of activity that occurs within messaging apps in one minute: – 18 million text messages sent – 38 million messages shared through WhatsApp – 25,000…
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The Future of the Tenant Experience is Conversational
Last week, CRE Tech and MIT put on a fantastic meet-up event in Boston. For anyone who has been to enough of these, it was easy to tell the tone of discussion about technology in the CRE industry is a lot more sophisticated than it was even a couple of years ago. One of the…
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We Need to Change the Way we Measure Tenant Sentiment
As someone who’s been involved in customer loyalty research for over 15 years—including 12 in commercial real estate, the past 2 of these at Building Engines—I can say without equivocation that the field has changed. A lot. The first customer research project I worked on was a telephone survey. (And yes, believe it or not,…
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Takeaways from CRE Tech Talks Episode #17: The Evolving Role of the Property Manager
The latest episode of CRE Tech Talks featured Becky Hanner, Founder of Commercial Asset Services. Listen to the full podcast. 1. Building owners and property managers play a new role It’s more important than ever for CRE property managers and owners to help their tenants attract and retain talent. Tenants used to be concerned about an…
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The 4 Commercial Real Estate Trends You Need to Know in 2018
Takeaways from the latest episode of CRE Tech Talks featuring Phil Mobley, Head of Research at Building Engines, Inc. 1. The World is Changing and CRE is not Immune. The largest change involves market pressures that are affecting the operational side of the Commercial Real Estate industry. Firstly, the millennial generation is the single largest…