Customer orientation in real‐estate companies

Palm, Peter

doi:10.1108/02637471111122435

Cited by 11 publications

(7 citation statements)

References 80 publications

(113 reference statements)

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“…In the increasingly global marketplace, corporate property managers' confidence in the institutional arrangements for both real estate and business generally of particular countries (the macro level) will influence their choice of location. At specific locations (the micro level) the individual owner's approach to business, norms, structures and procedures will contribute to any assessment of their trustworthiness and customer focus (Palm, 2011;Real Service & EPRA, 2012). In this respect, property owners cannot afford to act in isolation and with antipathy toward development of the real estate industry as a whole.…”

Section: Discussionmentioning

confidence: 99%

Determinants of satisfaction amongst tenants of UK offices

Sanderson

Edwards

2016

JCRE

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Purpose-Corporate Occupiers require offices and services which meet their business needs, whilst landlords must attract and retain occupiers in order to maximise occupancy and rental income. The purpose of this research is to help landlords and corporate occupiers understand each other better, in order to achieve a mutually beneficial relationship. Design/methodology/approach-This paper analyses interviews with 1334 office tenants in the UK, conducted over an 11-year period, to investigate determinants of occupier satisfaction, loyalty and advocacy. Structural equation modelling and regressions are performed using respondents' ratings of satisfaction with many aspects of occupancy as explanatory variables. The dependent variables include satisfaction with property management, value for money, overall occupier satisfaction, lease renewal intentions and occupiers' willingness to recommend their landlord. Findings-The aspects with most impact on occupiers' satisfaction are the office building itself, its location and amenities, and also communication with their property manager, a belief that their business needs are understood and the property manager's responsiveness to occupiers' requests. Occupiers' loyalty depends mainly upon feeling that their rent and service charges provide value for money, an amicable leasing process, the professionalism of their property manager and the Corporate Social Responsibility of the Landlord. 'Empathy' is crucial to occupiers' willingness to recommend their landlord, and clear documentation and efficient legal process improve occupiers' perception of receiving 'Value for Money'. Research Limitations-The sample is skewed towards occupiers of prime office buildings in the UK, owned by landlords who care sufficiently about their tenants to commission studies into occupier satisfaction. Practical implications-This research should help to improve the landlord-tenant relationship, benefitting the businesses that rent property and helping building managers understand where to focus their efforts to achieve maximum effect on occupier satisfaction, loyalty and advocacy. Originality/value-There has been little academic research into the determinants of satisfaction of occupiers of UK commercial property. This large-scale study enables the most influential factors to be identified and prioritised. Research Questions This research aims to improve the mutual understanding between landlords and corporate occupiers, by addressing the following questions:  Question 1: What do corporate occupiers consider to be the characteristics of the ideal landlord?  Question 2: What are the determinants of occupier satisfaction?  Question 3: What are the determinants of occupier loyalty  Question 4: What are the determinants of landlord reputation and occupiers' willingness to recommend their landlord or property manager? Review of Previous Research It is not possible to measure Property Management Service Quality directly, because quality is in the "eye of the beholder". Rather, quality has to be inferre...

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Section: Discussionmentioning

confidence: 99%

Determinants of satisfaction amongst tenants of UK offices

Sanderson

Edwards

2016

JCRE

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“…Both objectives are achieved through the completion of a series of semi-structured interviews conducted with executives working in the industry. This methodological approach has proven valuable to explore principal-agent relationships in the property management field specifically (Levy, Lee 2009;Palm 2013;Read et al 2016), not to mention a host of other real estate-related issues and problems (Carn et al 1999;Dixon et al 2005;Dixon, Pottinger 2006;Gibson, Barkham 2001).…”

Section: Methodsmentioning

confidence: 99%

Strategic Business Development and Client Prospecting in the Third-Party Apartment Management Industry

Read

Goss

Hopkins

2017

International Journal of Strategic Property Management

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Intensifying competition and increasing market demands are forcing many third-party apartment management firms to re-evaluate their approach to business development and client prospecting. In some instances, these companies are becoming more selective about both the assignments they take on and the property owners with whom they work. Careful consideration is frequently given to a number of factors to determine if new business opportunities are a good strategic fit. This paper examines how sophisticated fee management firms make such determinations by examining the perspectives of executives representing 25 of the largest multifamily operators in the United States. The results indicate heavy reliance on relational approaches to business development, limited long-range planning, and informal channels of communication often encourage fee managers to pursue new business in an ad hoc manner despite market conditions favouring more systematic behaviour. A series of best practices are put forth to address these concerns.

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“…2003, Kirca at al. 2005, Narver 1998, Palm, 2011. Customer orientation remains the basic and integral competence of the modern organization.…”

Section: Leadership and Customer Orientation In Management Sciencesmentioning

confidence: 99%

Customer orientated leader – contribution to future research

Widelska¹,

Jarocka²,

Jesevičiūtė-Ufartienė³

et al. 2021

JESI

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Both leadership and customer orientation are widely described in management sciences. As independent cognitive categories, they are a frequent subject of research. Customer orientation is still evolving mainly due to the dynamics of changes in the company's environment. The perception of the company as a system and being at the same time a visionary, a strategist and a decision-maker and having an impact on the employees' subject is responsible for the client's benefits and the creation of its value resulting from building a relationship. This is the role of the leaders in enterprises. The assumption of such an assumption is justified, because in practice marketing orientation means creating a company mission based on values significant for the client, ensuring the participation of all employees in creating growing values for the client and including it in the process of creating value. Nowaday we can talk about a customer-oriented leader. The aim of the study is to identify types of customer-oriented leaders in the commercial and service sector, and to systematize knowledge in terms of leadership and customer orientation. The choice of the sector resulted from the often close and direct relationships that take place in the exchange process. Methods of the research: quantitative studies Computer Assisted Web Interviewing (CAWI), monographic/descriptive method, cluster analysis.

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Customer orientation in real‐estate companies

Cited by 11 publications

References 80 publications

Determinants of satisfaction amongst tenants of UK offices

Determinants of satisfaction amongst tenants of UK offices

Strategic Business Development and Client Prospecting in the Third-Party Apartment Management Industry

Customer orientated leader – contribution to future research

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