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If
you are unfamiliar, as was I, with the five languages, they are touch, time,
affirmation, gifts, and service. It is quite coincidental that we discovered
the book while on a forty-five day road trip around the US. Carla’s language is
time and mine is affirmation - so the trip was time spent together with some
affirming words to me that we wouldn’t go broke as we abandoned our day jobs
for a little R and R.
The
book caused me to reflect recently on the five love languages that we
experience as commercial real estate brokers - so I decided to spend some time
in your service, touching the keys to exercise my creativity in producing this
gift to you. Hopefully, at least four or five of you out there provide me with
some affirmation - whew! Got ‘em ALL.
So,
in no particular order, here are the five love languages of Commercial Real
Estate - AKA, what drives us.
Money. You will know this guy’s language straight away if you get
in the way of a money driven broker and a dollar bill. He will bowl you over to
get to the greenback. This broker will sacrifice his client for the commission
and is looking for the quickest way to the paycheck. Doing what’s best for the
client? - only if it results in the largest
fee
- not my favorite guy with whom to negotiate.
Relationships. Golf, Laker’s games (well maybe in
the early 2000’s), cocktails, lunches, gifts at Christmas, gifts at birthdays,
gifts for gifts - this guy is ALL about the relationship and keeping the client
happy, healthy, well fed and well watered. Generally, his clients are his
friends as well. Dining with spouses, vacations - why not invite a
client/friend to join.
Analysis. Sometimes referred to in the biz as the “over broker”,
this practitioner’s hallmark is the spreadsheet. Lease vs buy, effective rent,
amortization, termination penalties - you name it, he spreads it - he spreads
even your thinning patience. Done in the name of “what’s best for his client”,
this broker is a frustrated engineer. Let’s just zoom back here and see the
deal for its good points, shall we?
The “Deal”. AKA, the deal junkie, this guy is
all about making transactions - big, small, it simply doesn’t matter - he just
enjoys watching two parties say yes. He would have been a justice of the peace
but the hours suck. Generally, this guy is creative and has myriad transaction
experience from which to draw. If you move on past his listing, he will hound
you until you place your occupant in another building - then he will hound your
client.
Drama. Proportions are blown with this fellow. The simplest item
becomes a federal case and you wonder if he even consulted his client before he
blew his stack. Yelling, screaming, and constant F-bombs are a steady diet. A
smooth transaction is out of the question - what fun would that be?
Well,
there you have the minimum. But I thought of a couple more - Bonus Languages.
Networking. Provisors, BNI, Chambers of
Commerce, RBN, SIOR, CCIM - this guy is EVERYWHERE! Sometimes I wonder when he
finds time to transact amidst this flurry of swapping business cards. His
elevator pitch is honed, rarely delivered without passion, and with scant
regard to the setting. Yep - even at his daughter’s dance recital!
Legalities. Few of us are lawyers but many of us
get our Perry Mason on when negotiating a contract. Let’s leave the waivers of
subrogation, mutual indemnities, and liquidated damages to those with ESQ
following their names - shall we?
So,
what is your Commercial Real Estate love language? I would really appreciate
your comments.
Allen
C. Buchanan, SIOR, is
a principal with Lee & Associates Commercial Real Estate Services in
Orange. He can be reached at abuchanan@lee-associates.com or 714.564.7104. His website is allencbuchanan.com.
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