Utilizing technology has become an integral part of the commercial real estate game and for good reason. Online listings, email and text are all valuable components in the buying and selling of real estate. However, it’s crucial to prioritize the interpersonal aspect of these transactions above all else, explained Justin Beck, CEO at Beck Partners.
“Technology should be used as the supplement, not a replacement for personal connection in the commercial real estate industry,” Justin said. “There’s so much that’s communicated through body language and voice that’s not necessarily received if you’re just communicating over email.”
What Is the Value?
The commercial real estate business is full of complicated transactions and a host of client needs, so it’s important to understand goals, objectives and motivations throughout the process.
Human connection is the foundation of a successful real estate transaction. There are numerous variables that come into play when trying to put together a mutually beneficial deal and the best is face-to-face conversations.
“The more you’re sitting in front of somebody and having discussions about their goals and objectives, the better chance you have at crafting a solution that will work for them,” Justin said.
Efficiency vs Effectiveness
When weighing in-person communication against a phone call, an email or texting, it boils down to efficiency versus effectiveness.
“You can get a lot done with email and text messages, but you’re sacrificing effectiveness,” Justin said. “On the other side, you have that personal connection and it’s the least efficient from a time perspective, but it’s the most effective.”
This doesn’t mean you should eliminate digital communication in favor of strictly in-person interactions during the process. Having a good blend of both is the best practice.
For example, the offer stage of a transaction requires more than just email with the offer. This is where a phone call in advance of sending over an offer should be the bare minimum. However, to truly set expectations and cover all the nuances of an offer, an in-person meeting is the most effective method.
“The power of storytelling is important,” Justin explained. “When you’re working on getting transactions done, the why of a buyer’s, seller’s, tenant’s or landlord’s motivation is critically important.”
If you’re leading a team of sales associates, the best way to instill the values of human connection during the sales process is to follow through with those actions yourself and share your successes with the team.
“Beck blends the use of the newest technologies to communicate with our clients, but we still highly value meeting face-to-face,” Justin said. “Often times that might mean getting in a car or getting on an airplane and going to the client or to the property, which isn’t something that every broker does.”
Going the extra mile to build relationships is what allows Beck to compete with larger firms in the space. “We put that extra effort in to really connect with our clients,” Justin said.
As a Beck client, you are in the best hands. To experience the power of human connection, please talk with one of our experts by visiting teambeck.com/contact.