The Ever Changing State of Real Estate: Insights from CREtech NY 2023

CREtech 2023 Access Control Village
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Last week, HqO joined thousands of innovation experts from across the globe at CREtech New York. Over the course of this two-day event, attendees sampled cutting-edge workplace technologies at the Access Control Village powered by HqO. What’s more, our real estate experience experts had the opportunity to talk to and interact with many CRE leaders – and here are a few key insights we walked away with.


It’s tough out there

Landlords are under intense pressure. The competition for tenants is at an all-time high as commercial real estate operators navigate through a once-in-a-generation confluence of threats – reduced office demand, moved leverage to the occupiers of space, and pressured budgets.

But did you know – 96% of property teams are looking to maintain or expand their spending on workplace experience software this year? Statistics like this show that operators are meeting these challenges head-on by investing like never before in their real estate experiences. The organizations – both operators and occupiers alike – that will succeed through this rapidly evolving market transformation are those that recognize that without harnessing the power of real estate technology and customer data, they are flying blind.


Real estate experience is on the agenda for every C-suite

Over the last several years there has been a fundamental shift in how, where, and when work happens. While leading employers are encouraging in-person workplace attendance to drive productivity, increase corporate performance, and support their employees’ professional growth, individuals are demanding more autonomy and control over their work environment. This has driven a fundamental evolution in the real estate experience economy as space has moved from a commodity to a service and now to an experience.

However, according to a recent Hubspot study, 73% of remote workers are back to the office at least once a week, and 84% of workers believe that remote or hybrid jobs make them happier. This reinforces that experience matters as employees are looking for balance between home and in-office work. This in turn is putting landlords and employers in the hot seat – do their spaces, amenities, and programming stack up against their competition?

Employees have more power than ever before to choose who they work for, and where. This has forced C-suite leaders to reassess how they view and value real estate. What used to be considered simply a cost center, is now looked at as a critical driver for how an organization can achieve their people and business goals.


Experience data is critical for continued success

For landlords and occupiers to foster real estate that meets the needs and demands of their people, they need data and insights – and that is where HqO’s Intelligence comes in.

Launching next month, Intelligence, a new product of HqO’s Real Estate Experience (REX) Platform, is the ultimate real estate and analytics engine that delivers the first and only industry standard for assessing and benchmarking workplace performance. Through Intelligence, operators and occupiers of real estate gain:

  • immediate access to global real estate insights from 1.3+ million employees and 8,000+ workplaces collected through the proven methodology of Leesman, an HqO company and the industry’s most trusted workplace experience data source and benchmarking framework.
  • property-specific insights by deploying the Intelligence product suite at an asset.

Speak to one of our real estate experience experts to learn more about how you can transform your operations and enhance the tenant experience.

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