Accountability for results and budgets is reflected in the current trend towards corporate real estate teams becoming more centralized, with real estate being increasingly managed as a corporate financial asset. Scrutiny from the C-Suite and procurement departments alike is driving service provider selection criteria away from a focus on market expertise and toward priorities such as the ability to build lasting, strategic relationships with business units; assist with global data management to create intelligence on the real estate portfolio to drive strategic planning; and deliver consistent and measurable results.

At the same time that centralization is supporting control and consistency, corporate tenants are also demanding flexibility. While that may seem counterintuitive, it doesn't have to be. Governance programs, technology and good communications can provide a framework for global delivery. Empowered account teams who are trained to listen and adapt can be sensitive to client best practices, cultures, and needs. The right real estate provider should be both nimble enough to evolve alongside business priorities, and structured enough to ensure reliable results. And most importantly, the right provider should be fair and open about their pricing and scope of services, avoiding excessive “up-selling and extras” when the business demands a recalibration of services.

While market expertise and execution are still valuable traits, they are no longer exclusive criteria in the selection process. For any real estate professional whose livelihood depends on attracting and retaining corporate clients, it is important to understand both the changing priorities, and the service platform required to meet them. The more a provider can help clients and prospects align real estate objectives with their larger business imperatives, the more successful the relationship will be.

Mark Wanic is the America's Head of Occupier Services for Cushman & Wakefield's Corporate Occupier & Investor Services group. He is based in New York City. The views expressed in this column are the author's own.