Diversity, equity and inclusion (DE&I) has been trending for a few years, but the chatter has elevated to another level recently. While much of this has been limited to education, government and corporations, it’s becoming present in every industry—CRE is no exception.
Opening up to new perspectives and people is a great way to not only improve yourself and your impact on the world, but it also gives you a competitive advantage as a professional. Let’s discuss a few benefits of implementing DE&I initiatives.
By Creating A Comfortable Working Environment
Especially if you work on a team with multiple commercial real estate professionals, a comfortable environment is a must. The more employees in your company that are uncomfortable, stressed out or on edge, the more your production and results are at risk. If everyone feels safe to be themselves, the desired outcome will be more attainable.
By Giving Your Work A Higher Purpose
It’s sometimes easy to forget that there are human beings behind every email, username and number. Those properties in your portfolio are full of tenants with their own problems, which is why you don’t want to add to the negative environment, if you can. By considering some DE&I initiatives, you can determine if there’s a better way you can impact your community. Maybe it looks like hiring a more diverse team or proper training—however you look to improve yourself, it will better your effect on the world.
By Standing Out from Competitors
If all things are equal between one of your commercial properties and another that a client is considering, little and tangential details begin to matter more. If there is a lack of DE&I sensitivity in things like your communications, rates and showings, it could mean the difference between a vacant and occupied property. At the end of the day, people remember how you treat them.
By Protecting Against Risks and Liabilities
Finally, you run the risk of running into legal issues and poor portfolio performance if you don’t value diversity, equity and inclusion. It becomes more difficult to retain top employees, attract new talent and stay free from any potential discrimination-related accusations.
DE&I isn’t the only business practice that can give you a competitive advantage. To see how commercial real estate software like Quarem can take your portfolio to the next level, request a demo today.