Real Estate Visibility: The Crux Of Management

Best-in-Class enterprises leverage real estate management solutions to meet key lease and acquisition dates 55% to 77% more frequently than competitors -

BOSTON, MA Utilization of real estate management solutions drives improvements in portfolio visibility and leads to significant performance management advantages, according to a new study by Aberdeen, a Harte-Hanks Company (NYSE:HHS).

The Real Estate Management” benchmark report, leveraging the insights of corporate real estate executives from over 100 enterprises, found that 48% of companies are centralizing real estate management operations and 45% are concentrating on improving collaboration between different departments as critical strategies to improve their corporate real estate function. Additional focus is on aligning real estate master planning and strategies with overall corporate goals to drive better visibility into processes and improve portfolio performance.

"Automation of the different real estate management functions in conjunction with establishing standardized and centralized processes have proven to be key drivers of performance improvements," said Bill Browning, Research Analyst, Aberdeen. "They leverage the resulting visibility into spend, process and metrics to make better portfolio management decisions."

Best-in-Class enterprises are excelling in many performance metrics, demonstrating:

55% to 77% lower rates of missing key lease and acquisition agreement dates than all others

4% to 9% lower property identification to letter of intent and letter of intent to move-in cycle times

The Real Estate Management benchmark report recommends that enterprises should establish VP-level or higher oversight of the corporate real estate group and coordinate real estate management strategies with overall corporate strategies to ensure visibility and optimize portfolio performance.