Four things that your CRE broker may not come out and tell you

reality-illusion

I like to think that I’m pretty transparent with clients.  Developing a relationship of trust is paramount to establishing a long term business partnership.  It is therefore funny that some things just seem to go unsaid.

This business is still an old boys club

We have some very talented women in this industry who provide a high level of service to their clients. The last U.S. survey I saw reported that women comprise just 37% of the sales and leasing commercial real estate professionals in the U.S. I have not found this statistic in Canada however through observation my guess is that number could actually be lower in this country.

The reasons for this gender disparity could be many. It is a fact that more of the individuals who are making the decisions to buy, sell or lease commercial real estate (our clients) are men.

I saw the results of a survey by “CREW”, an organization for women in commercial real estate. It showed that there is a greater reluctance for females to enter careers where the remuneration is 100% commission. In the area of asset/facility/property management the gender difference is not as significant.

Just say you’re not interested

When I encounter a potential client who is seeking a solution for a specific commercial real estate need my problem solving skills kick into high gear. That’s what I do….I’m a salesman.

If a mutual decision is made to work together I work hard to complete the assignment. I understand however that circumstances can often change in the business world. There are many reasons why, after initially believing there is a specific need, something can happen that requires the client go in either a totally different direction, or do nothing at all.

It never ceases to amaze me when clients just stop communication at that point. We’re big boys and girls with thick skin otherwise we would never have made it in this business. Simply call and explain your situation. We deal with this every day and will not judge you if it is necessary to put the file on ice.

We cannot consistently predict where each sector of our market is heading

We know commercial real estate. We’ve seen where the market is going and are not afraid to make an educated guess where it is headed.

Make sure when seeking advice, the professional you are speaking to has direct access to a market analyst who has all of the data on the specific geographical area and real estate sector that is applicable to your discussion. There are many market factors that must be weighed when trying to forecast future trends. We will analyze this data and provide you with the very best information available.

The problem is that there are many local, regional, national and international economic forces at play that can dramatically affect those forecasts. Seek advice from your team of professionals. Then, at the end of the day, make the final investment decision based on your own business intuition

We have a life outside of our professional career

I love what I do and work hard at it. The reality is even after business hours my mind is often thinking about the business and looking for creative solutions to the assignments we’re working on.

I do not however answer business calls or respond to emails on evenings or weekends. I have found that I bring the best of me to work when I maintain some balance in my life that includes family, friends, exercise and play.

Do you have a question that you’ve wanted to ask a commercial real estate broker but were afraid to ask?  Try me!

Posted by Barry Stuart

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