Thinking of Getting Married? Date First.

Thinking of Getting Married? Date First.

 You are a Commercial Real Estate Broker and, most likely, operate as an independent contractor. No matter where you fly your flag – CBRE, JLL, a local boutique brokerage, or your own independent shop – your business is you. Clients and prospects reach out to you because they want to do business with you, not the company which holds your license. It’s because of this that you need to take the dating approach to your business before you make any long term commitments.

 Choosing a Brokerage – the people you surround yourself with on a daily basis can make or break your career. Positive energy in the workplace begets positive energy from other independent contractors, staff, etc. Negative energy, obviously, can adversely impact the demeanor of an office. Most CRE professionals are a part of 2 or more brokerages over the course of their career. If you are considering a brokerage change, spend some time with the folks in that office – from the director to the admins to the marketing team to the other brokers. What kind of energy are they generating and is it an energy that is going to help you grow your business?

 Choosing a Client – yes, the client has to choose you, but that doesn’t mean you have to choose the client. Before entering into a listing and/or representation agreement with an individual, date ‘em. Take them to lunch. Sit down in their office for a good amount of time and get to know them, their staff, and anybody else who may be a decision maker in the leasing/sales process. If something in the back of your brain is telling you to RUN!, that is probably a good indicator that this is not a person that you need to work with. It is ok to turn down prospective clients and your mental health will thank you for it.

 Buying a Business (M&A) – If ever you are thinking of buying a business or selling your business and staying on board in some capacity, dating before marrying can save you tremendous headache and, most likely, lots of money. There may be employees loyal to the previous management structure that can cause severe business disruptions. There may be a former “boss” with the expectation that he/she will still be the boss post-M&A. There may be a troublesome dynamic in play that you are unable to observe in casual conversation. So, before you take part in any type of merger or acquisition, get to know your counterpart. Thoroughly. 

Once again, if it doesn’t feel right, trust your instincts. After all, you do that in your personal life. Why wouldn’t you do that in your business life?