Spending money to save money is high on the priority list of property and facilities management executives. Nearly 75% of respondents to Real Estate Forum’s new survey of office property owners and managers said they’ve increased their use of technology to handle work requests, with most seeing at least modest savings over the past two years as a result, while 79.5% said they’ve stepped up their sustainability efforts over the past three years. The most frequently cited reason for going green: cost reductions and efficiencies, well ahead of either meeting tenant expectations or keeping up with trends. More than 200 executives from across the commercial real estate spectrum responded to the survey, which was anonymous.

With cost consciousness an overarching theme throughout the survey, most respondents said they realized savings through smarter spending rather than by cutting back on essentials. Just over 79% said they’ve been able to reduce costs over the past two years by renegotiating contracts with service providers, for example. By contrast, only 27.1% said they’re spending less marketing and advertising, and just 14.9% have cut back on customer relations staff.

Whether it’s called green building practices, sustainability or operational efficiency, the movement has taken hold among property and facilities managers. Slightly more than 68% of respondents said they engage in sustainable practices today, and many responses commented that they’ve embraced the concept. “While saving money is the primary driver, we also believe sustainability is a measure of quality and what great real estate organizations need to do,” commented a managing director with a nationwide firm.

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