Quick turn arounds and dazzling sales: That’s been the main story line lately in commercial real estate. While the economy at large has struggled with business closures and staggering job losses amid a global pandemic, real estate has surged.
That’s been my story too. I’ve boasted about many fast and successful closings for my clients.
But it’s not the whole story.
Even when the market booms, sometimes a particular listing crawls. There can be a hundred reasons, none of them sufficient to explain the long slogging process. Coaxing that kind of deal to the closing table calls for something deeper: Commitment from both the client and the broker.
A long-time client asked me to sell a property in downtown Wayne. The former Bank of America site is a stately, well-appointed 14,000-square-foot building. Both my client and I thought it would move quickly.
It didn’t. Obstacles popped up – zoning, financing, and inspection issues – all typical and resolvable. Each time a problem arose we pivoted, adjusting our strategy. Deals came together. And then fell apart. No single issue explains why it took not 5 weeks, not 5 months, but 5 years to sell this fine property.
But sell it did. My client trusted me and my commitment to his goals, and that trust fueled an even stronger commitment on my part.
Not all properties sales go quickly or smoothly—in any market. It can be hard to predict when or why one will stall. But when it does, you want a broker who will work tirelessly for you all the way to the finish line.
If you need a broker who will stay committed to you and your portfolio for the long haul, call me at 248-476-3700.
