BOSTON—July 13, 2015 – Cresa, the world’s largest corporate real estate advisory firm exclusively representing tenants/occupiers, was ranked number one in numerous categories in the recently published Watkins Research Group 2015 Survey of Corporate Real Estate Executives (CREs).
This survey, the sixth to be performed for the commercial real estate industry, was launched by the Watkins Research Group in 2005 to help firms make more informed decisions based on its findings. This year, 273 veteran corporate real estate executives from 257 companies, including North America’s largest users of commercial real estate services, evaluated 23 service providers, including every major global firm.
The firms evaluated were: ABM Industries, Avison Young, Binswanger, BNP Paribas Real Estate, Cassidy Turley (prior to Jan 1, 2015), CBRE, Colliers International, CORFAC International, Cresa, Cushman & Wakefield, DTZ, Fischer & Co., GVA Worldwide, ISS, Johnson Controls (JCI), Jones Lang LaSalle, Lee & Associates, Mohr Partners, NAI Global, Newmark Grubb Knight Frank, Sodexo, Savills Studley, Inc., and Transwestern.
Top Survey Categories
Cresa was ranked number one in all three of the survey’s top categories (“client advocate,” “ease of doing business”, and “best overall”) as well as first in nine out of 10 other “key factors.”
· Client Advocate. The first of the three major categories is the client advocate score. Watkins calculates the score by asking participates on a scale of 1-10 how likely they are to recommend the firm to a business associate or colleague. Watkins then takes the number of positive responses and subtracts the negative ones; it does not count neutral responses. Out of a perfect score of 100, Cresa received the highest score at 83.5, compared to the second highest client advocate score at 33.3.
· Ease of Doing Business. The second category is the ease of doing business score. Similar to the client advocate score, participants are asked to rate the ease of doing business with the firm on a scale from 1-10, 10 being a perfect score (“very easy”). Cresa had the highest score in this category at 9.61.
· Best among Clients. The third major category is the best among clients score. Watkins calculates this score by asking how many of a provider’s current clients would rate their firm as “best overall.” A perfect score would be 100%, and according to the Watkins Research Group, anything over 50% is considered “good.” Cresa again ranked highest in this category with a score of 90.8%.
Cresa was also ranked number one in nine out of 10 other “key factors,” including:
· “Delivers results on time and within agreed upon budget”
· “Adapts services to fit needs/culture”
· “Understands and avoids conflict of interest”
· “Has a strong reputation and is respected in the industry”
In addition, Cresa received the most favorable rankings in the “most desirable” quadrant in the following categories:
· “Adds to bottom-line"
· "Strong client orientation”
“We’ve always been strong advocates for our clients, and this survey shows that they are strong advocates for us,” says Richard Rhodes, Cresa’s CEO. “The Watkins Survey is an excellent industry benchmark and an important resource for companies. It allows firms to better understand what corporate real estate professionals really think about real estate service providers. There is always room for improvement, and we will continue to use the survey results in our strategic planning.”
According to Curt Watkins, Founder of the Watkins Research Group, the overall results of this study are accurate to within a maximum of ±4.3% at a 90% level of confidence. This means that 90 times out of 100, the overall survey results should be reproducible to within ±4.3%, assuming the same survey questionnaire and methodology. He attributes the accuracy due to the method of “adaptive interviewing.” In other words, respondents are only asked to rate CRE services companies with whom they are familiar and only in regard to how those CRE firms perform on factors the respondent considers to be important, thus eliminating the “noise” created by asking every participant every question.
To choose participants, study co-sponsors identified companies they considered important decision-makers with regard to their needs for CRE services. The Watkins Research Group then worked with the study sponsors to ensure that key areas were addressed.
The Watkins Research Group specializes in business-to-business research and is based in Kansas City, MO. This survey was conducted in association with Flaspöhler Research Group. It will be conducted again in 2017. For more information visit, www.watkinsresearchgroup.com.