I was honored to be a guest on your podcast recently. Having worked on business and presence initiatives, I am often sought after. I think they think, 38 years later, they might have something to say to their audience.
My latest interview was at the request of my professional coaching organization, the Massimo Group. Founder and CEO Rod Santomassimo and I spent time discussing commercial real estate and the pillars of my success. I believed they were worthy of a column. To listen, visit https://open.spotify.com/episode/2OHyYnWAG7imnyaMHGT5df?si=iy8zBft6QaCOFVnb4j_6ww.
First, let me expand on the question Rod originally asked. Describe yourself in high school. In a word, geeks. Too skinny and small for soccer, too slow for the track, and scared of baseball…but I discovered golf.
Yes, golf is cool now thanks to Tiger, Phil, DJ and Rory. But in the 70s, only visor-wearing, spectacle-wearing misfits hit the rink. Ernie was an exception. But golf has created independence that team sports cannot. This set us up to build a career in industrial building brokerage. His parents divorced while he was in high school. I was the eldest of her three siblings, so I often acted as a go-between. Again, good preparation for advising commercial property owners and residents. So I became an independent mediator.
In a podcast with Santomassimo, I dug into a list of the three pillars of success.
be client-centric
This means that our client’s best interests are more important than our fees. period.
Too many new agents are struggling with fee breath. Rates come first. After all, we are salespeople who depend on trading for our livelihoods. But if you sacrifice your clients, your life will be shortened. Early in my career, I advised many people not to buy when they believed they were better off leasing. I should mention that the commission for selling is higher than for leasing. As you can see, the purchase requires certain criteria. It’s years in business, ample working capital, a stable growth trajectory, and an ownership structure that allows you to profit from owning the building in which your business operates.
Agencies can be a great source of new business
Many people see an agent within their own company or another agent as a competitor. That may be true. But I have found that they can also be a great source of referrals. , strives to be highly transparent to fellow agents without compromising the client’s position. This transparency has served me well over the years.
do what you say when you say
With clients, agents, friends and family – go for it! One of my keys is to only commit when I know I can and never break promises except for a frontal lobotomy. It’s a very simple concept, but it’s not easy.
So you have it.
Allen C. Buchanan (SIOR) is a Principal with Lee & Associates Commercial Real Estate Services in Orange. He can be reached at his [email protected] or 714.564.7104.