Make the Call

I Knew I Should Have Called

As a commercial real estate professional, one of the most frustrating times is when you miss a possible assignment. You have been working on listings or nearby projects and an adjacent property catches your attention but you do not make the call. You may have gathered the necessary info and even made an initial contact, but get wrapped up in your own project and do not follow up quickly. Sure enough, you see that property in the listing services or see that it became a new project with another broker or developer. It’s impossible to capture every deal for a myriad of reasons – time, available equity, project focus, etc. – but many times those are just excuses for failing to follow up in a timely fashion. Make the call!

Take Action

It’s more and more common in this very modern age that the speed of action can disrupt an entrenched player in the industry. We hear all the time how Amazon has shaken the retail industry and how that is affecting retail real estate along with the industrial sector. This change has caused a boom of distribution warehousing development and a need for adaptation in the retail sector. The retail centers have been forced to become more experiential and service-oriented to overcome the dearth of retail sales in the big box stores. But, all this change is a natural progression and will happen again in the future. Some smaller, nimbler, faster company will reinvent old ideas and disrupt things once again. So, the lesson learned is to stay active and pursue opportunities with speed and eagerness. Continue doing things that work but do not get stuck in the mindset of “but, that’s just how it’s always been done” mentality.

Follow Up

Okay, so you have done a great job of taking action, making a connection and finding an opportunity but cannot close the deal. It does not mean that it is over, the timing is probably just not right. I am constantly telling people within my professional network that my primary source of opportunities come from people in transition. Finding these moments of transition requires following up on a regular basis because some event will cause that situation to change. It may be a planned hold-period and the time for a sale has come, a partnership unwinding, a divorce, a legacy plan taking shape or even a death. The only way you will know the timing is through constant follow up or contacting that person at the right moment to seize the opportunity. Remember to follow up!

Value Proposition

How are you adding value to the situation? What services do you offer to the prospective client and how does your offer differentiate you from other service providers in the industry. Your value proposition should be clearly defined and easily communicated.

Don’t Forget to Tell and Ask

I am a highly active commercial real estate professional in the Southern California market working on net-leased and value-add projects through our investment brokerage platform at Strategic Development Advisors. We advise investors and developers on the sale and acquisition of commercial properties throughout Southern California. By coupling nearly 15 years of experience with advanced curriculum, including Master in Business Administration and Master in Real Estate Development degrees from USC, I am able to assist clients with their investment and development goals. We are actively pursuing new opportunities for our investor and developer clients. If your family, company or clients are interested in our services then please contact me to discuss further. I can be reached at (626) 340-3782 or ryanegarcia@gmail.com. I look forward to doing business with you soon!