Now, why would we write a blog post to tell some of the brightest minds in commercial real estate what the commercial real estate business is about?
Simple, because we all need to remind ourselves what we are doing and since this is a blog post, which is public, educate the public as to exactly what we do.
Another reason for the reminder is that many of us work independently and need a little rah, rah once in a while to get us going! Everybody needs a coach or cheerleader so we aim to give you a pep talk right here in this blog post!
We start out with —- Go team!
So What Do I Do?
Okay so the entire reason that anyone would ever consider hiring you is because you should be doing everything in your power to sell, lease or manage their asset and to maximize value. As we all know and need to remind ourselves, our clients want the highest return possible in the marketplace or to find the best value, or if leasing to find the most suitable tenant.
So the theme of our industry is maximizing value + marketing/promotion + technical expertise such as property management or even project management, which is another discipline many of us execute, like we breath air.
What makes our industry so darn difficult is the fact that everyone thinks they can do our job, and in some cases, do it better than us! Why? Because they own the properties for goodness sake. If they own the property, they have to be smarter and wiser, but just too busy to do it themselves. Well let me set the record straight. If it were easy to do what we do, they would in fact do it!
That needs to be so clear in your mind. That’s right. If a client found our job was super easy, they would not need us! However, as we all know, it is NOT easy. The job of bringing parties together to close a deal is extremely difficult. It takes extreme creativity, persistence, organization, follow through, knowledge of financing, zoning, legal and even some accounting, not to mention the market conditions and economic factors.
Wear Many Hats!
After you sprinkle in a Phd in psychology and a Phd in politics, it gets obvious what it takes to make deals and close them too! Sometimes it may just be that we make what we do look easy, but we know the pitfalls, risks and let downs that occur on deals that can take months and years to make and sometimes decades, just to have the entire transaction fall apart for any number of reasons.
Deal makers who know what they are doing, are experts as qualifying what deals to work on too! That is an art in itself. There are cre professionals who can see a deal a mile away and they will walk away from a prospective client on a dime if they believe there is no deal to be made. That takes extreme talent and experience!
Give Yourself a Pat on the Back
Now go pat yourself on the back and keep doing what you do best! Be it brokerage, management or leasing, as a famous mentor once told me when I uttered a mumble about how hard a particular task was going to be: “Linda, I didn’t tell you it was going to be easy!” and he was right!