Commercial real estate relationships
The importance of relationships in commercial real estate
Commercial real estate is a relationship-driven business. We do deals with people we like and trust, and we get the best from people who like and trust us.
Here are some tips to help you build great relationships – whether it’s with tenants, landlords, brokers, investors, agents or owners.
1. Be human. Try taking off your ‘I mean business’ mask, lower your defences and you’ll be amazed at the result. Meet for coffee, ask people about their family, it shows you are human.
2. Find some common ground. We are all more alike than we are different. Find something you share (it could be a love of coffee, mountain biking, or having a young family) – it helps to make a connection and puts people at ease.
3. Be fair. We’re all in business for the same reason – to make some money to live a good life. Ripping people off and being generally unpleasant to deal with won’t win you any favours.
4. Be reliable. So, you’re busy. Ignoring people is rude. Respond to emails and phone calls and do what you say you will do.
In the long run, investing in strong relationships will protect your property, make business transactions smoother, reduce the likelihood of nasty curveballs and get you a good deal. It can also enrich your personal life and improve your general wellbeing.
And remember, the relationship doesn’t end when the transaction is made or the contract signed. View this as the start of a long relationship based on mutual respect.