Sep 13, 2016

6 Ways to Empower Your Commercial Real Estate Team

By Don Catalano



When members of corporate real estate teams are empowered to function independently, your company is best positioned for success. Fully empowering employees involves considering a number of elements, but by making simple changes, instituting the right policies and investing in the right people and technologies, you can put the power to succeed in the hands of your team.


Here are six things that you can do to empower corporate real estate professionals:


1.  Lay the Groundwork for Decision-Making

Employees can't be empowered if they have to come to you to make decisions arising during day-to-day routines. Having a clear set of policies and procedures that were developed using best business practices for the industry in place can provide employees with clear guidelines that they can refer to when it comes time to make routine decisions. They'll also know when they need to confer with you or a supervisor before moving ahead with a decision.


2.  Facilitate Communication

Teamwork and collaboration are vital to success of corporate real estate teams, and neither can occur without good communication. Because members of your team may be frequently out of the office, you need to find ways to help them stay connected to one another. Cloud-based data sharing, video conferencing software and internal messaging and chat systems all facilitate quick communication and make it easy for the members of your team to share ideas and data.


3.  Provide Quick Access to Data

When corporate real estate professionals have to spend hours looking for real estate data, they can't be completing other tasks. Empower your team by giving them access to digital records with the right software programs, databases and online subscriptions. If you're unsure what type of information your team needs to have at their fingertips, consult them. Finding out what would make their jobs easier will not only put them in the best position for success but will also show them that their insights are valued.


4.  Give Them Tools to Increase Efficiency 

Administrative tasks can end up eating up much of your commercial real estate team members' time. Automating as many tasks as possible with technology like commercial lease management software can make completing routine tasks faster and more efficient. When not bogged down with housekeeping-type tasks, your commercial real estate team will be empowered to focus on the more important aspects of their jobs.


5.  Have the Right Support Network in Place 

Handling commercial real estate is often a team effort. Input from lawyers, accountants, analysts, architects, IT professionals and other experts is often required. Make sure that there is a support network in place that your commercial real estate team can go to on their own without having to work through you or a supervisor. You can decide whether an internal support network that consists of employees or an external support network of outside experts is the right fit for your company.


6.  Lead the Team

Empowerment starts with you. Put your team in control by being their leader rather than their supervisor or babysitter. When you put trust in your team, let go and stop micro managing, you'll enable them to rise to the occasion.


Other great CRE articles to check out:

Tenant Tips to Thinking Like a Landlord

7 Ways Corporate Tenants Can Cut Costs

Best Practices for Your CRE Department in 2016

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Topics: commercial real estate

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Don Catalano

Don Catalano