On today’s episode of CRE – The Unspoken Truth, Craig dives into a couple specific deals that stand out to him when looking at his career. Craig also shares his 3 rules for simple and complex deals.
3 Rules for Simple Deals:
- Build the relationship at every opportunity you get – have the long term view
- Competency and excellency is the #1 way to build the relationship – dot the i’s and cross the t’s. Go above and beyond!
- Refer and introduce people to your clients. Solve their problems, help them get more business.
- Get the deal done
- There’s always issues, brokers get paid to know the big and small problems. Don’t major in the minor. Take stands on big issues, let the other issues go.
- Get more business
- The hardest part of brokerage is we build a great relationship, do a great deal, then we have 4 years until we need to talk to them. Getting more business starts with just earning this business again.
3 Rules for Complex Deals:
- Build the relationship
- Don’t just build the relationship with your client. Build relationships with the 5-10 people you need great relationships with to get these complex deals done.
- Use every skillset you have
- Negotiation, termination, acquisition, construction, financing, legal, etc.
- Stay the course. Most complex deals close at a ~10% rate. Stay committed.
- Build your muscles on complex deals. This makes the simpler deals easier.
