35 years! Right? I realize that many of you reading this post aren't 35 years old. In fact our oldest turns 31 in a couple of months...AMAZING! My beautiful, and forever youthful bride, Carla, and I celebrated our thirty-fifth anniversary last week. As I reflected on our life together, it dawned on me that for 30 of those 35 years, I have brokered commercial real estate. So, just what have I learned from my 35 years of matrimonial bliss that applies to commercial real estate? What follows is a list of those things.
So in no particular priority, here goes.
Maintain a sense of humor. In marriage and in CRE deals, funny shit happens. It is critical to embrace the humor in bizarre situations, smile, and keep on going!
Remain flexible. We make plans and God laughs. Rarely do things proceed exactly on schedule or as anticipated. Flexibility can save your digestive system.
Celebrate the little successes. When you close a deal, pick up the check at the escrow office. When you complete a lease, take the client to lunch or send them a gift basket. We remember the little things in life.
Don't dwell on the failures. It's VERY easy to get bogged down in what DIDN'T happen. Give yourself (depending on the size of the failure) enough time to mourn and then right back on the pony, cowboy.
Transparency is key...even when the subject is uncomfortable. Secrets are the death knell of a relationship or a transaction. Strive to develop client interaction that is candid, selfless, and timely.
You can see the big issues coming...its the little ones that derail you. We do our best to anticipate challenges in a commercial real estate deal...but it's impossible to control ALL of the minuscule details that can affect an outcome. Just like the tortoise, slow and steady makes it work.
You gotta trust your gut. If you sense there is problem, you're probably correct, even if your spouse or client tells you the opposite. See "transparency."
Help your clients achieve their dreams...first. Successful marriages survive when each individual is encouraged and supported to seek their potential. If you will focus upon helping your clients achieve their goals...sometimes at the expense or delay of yours...you will win far more than you lose.
By: Allen Buchanan
Principal | Lee & Associates
Follow Allen on Twitter @allencbuchanan
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