Success in Marriage and Commercial Real Estate - 8 Ways

Image Attribution: www.clipart.email.com

My beautiful, and forever youthful bride and I celebrated our fortieth anniversary recently. 40 years! Right? I realize that many of you reading this column aren't 40 years old. In fact our oldest turned 36 a couple of weeks ago. AMAZING! As I reflected on our lives together, it dawned on me that for 35 of those 40 years, I have brokered commercial real estate. What have I learned from my 40 years of matrimonial bliss that applies to commercial real estate? In no particular order - what follows is a list of those things.

Maintain a sense of humor. In marriage and in commercial real estate deals, funny things happen. 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.

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.