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Transforming CRE value through relationship management

Thomas D. McCarty (Jones Lang LaSalle, Chicago, Illinois, USA)
Richard Hunt (Jones Lang LaSalle, Redmond, Washington, USA)
James E. Truhan (Washington Mutual Bank, Seattle, Washington, USA)

Journal of Corporate Real Estate

ISSN: 1463-001X

Article publication date: 1 January 2006

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Abstract

Purpose

To provide a roadmap for corporate real estate (CRE) directors to effect change in the way they deliver services through enhanced relationships with their “customers,” the users of CRE.

Design/methodology/approach

Previous studies and discussions of customer relationship management are combined with the authors' extensive experience to make a case for formalized change management processes and analyze specific methods for enhancing the effectiveness of these processes.

Findings

Relationship management integrates real estate processes into larger corporate processes, converting real estate opportunities into competitive advantages. The transition from a reactive to a proactive mode of service is aided by adoption of new mind sets and new skills sets, including tools and processes for communicating within the organization, enhanced financial/analytical acumen, and metrics for determining successful outcomes.

Research limitations/implications

Every CRE department faces unique challenges and opportunities which cannot be fully addressed in a paper designed for broad applicability.

Practical implications

CRE directors will recognize the challenges and opportunities they face and will learn about specific actions and initiatives they can implement to enhance their effectiveness though internal customer relationship management.

Originality/value

Applicability of change and customer relationship management processes to the CRE environment is a new area of focus and is mostly uncharted territory. This roadmap delves deeper than previous papers into specific methods for aligning real estate processes with the “voice of the customer” to further corporate objectives.

Keywords

Citation

McCarty, T.D., Hunt, R. and Truhan, J.E. (2006), "Transforming CRE value through relationship management", Journal of Corporate Real Estate, Vol. 8 No. 1, pp. 4-18. https://doi.org/10.1108/14630010610664769

Publisher

:

Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited

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