“It’s Nice to Be Nice and it Doesn’t Cost a Penny!” – Warren Buffet

“It’s Nice to Be Nice and it Doesn’t Cost a Penny!” – Warren Buffet

I’ll start by saying I have not mastered and effectively implemented all the principles and ideas contemplated here, but these ideas are important to me and formulate what I view to be an extremely important segment of our commercial real estate industry.

In a transaction-driven business like commercial real estate where buyers and sellers are up against cost constraints, hard deadlines, uncontrollable municipality and legislative risks, etc., it’s easy to sometimes forget that we are not only dealing with real estate assets, but we are working with real people who have real lives and very real concerns and pressures themselves.  Remember that people are the true assets you work with, not the physical real estate assets.  Being courteous, respectful and nice to people goes a long way towards the culmination of a mutually successful real estate transaction. 

One of the most effective ways to communicate genuine care for someone is through your tone of voice.  This is much more easily done through a live phone conversation or voicemail than in an email or text.  It takes more time generally to complete a voicemail or call, but your true intent and genuine care is more easily perceived from a live phone call or in person meeting.  People can tell if you truly care about them and their goals or not.  If someone knows that you care about them as an individual and you care about their hopes and goals, they are much more likely to trust you and open up more with you about what exactly they are trying to accomplish with the transaction.

If you are directly involved in the deal-making process and you want to excel in your role, you should view your role primarily as a way of serving others.  Know who you are serving and learn how to serve them well.  Understand what they value, and find ways to provide the necessary solutions that are important to them.  It does not add much value to simply forward an email containing contract or lease comments.  Review the comments, understand the complexities and hurdles of each deal, and weigh in on the comments where appropriate, providing creative recommendations.  Deals can quickly become messy and complicated and the years of experience and knowledge you have accumulated by being in the trenches is an invaluable tool for your clients.  You certainly aren’t adding value for those you serve if you are a hindrance to the deal flow process by not returning phone calls or emails or by holding up the deal flow process in any way.   

Threats and weaknesses:

One of the main threats and weaknesses is the temptation of pride that success can bring.  The longer you practice in a specific field like commercial real estate, the greater the level of expertise that you gain and draw from to provide to clients.  The well-known old sayings continue to ring true: “Knowledge puffs up.” And “Pride comes before a fall.”  We’ve all been in meetings where it is evident that someone is very knowledgeable in a certain area, and it can come across in a repulsive and offensive way.  However, if you use your hard-earned knowledge to better serve those around you and to encourage and help them, you will find success.

True humility is rare and valuable.  I’m not talking about letting people run all over you in a negotiation, but recognize and remember that life is short and much can change very quickly.  We control a very finite portion of what contributes directly to our success in commercial real estate.  How you choose to treat other people is fully and completely controllable.  Be tenacious and persistent, but not overly aggressive.  Serve your clients first and foremost, not the deal.  Cultivate a successful career characterized by respect and genuine care for the real assets which surround you!

A few ideas and recommendations:

It’s difficult to be nice to people and adequately care for them if you are too busy.  Use your calendar well and allow sufficient time for each drive, phone call, and each meeting.  It’s also difficult to be nice and care about people if you don’t feel well!  Find an exercise routine that works for you and stick with it.  Take a walk outside during a busy workday to enjoy some fresh air.  Much of what can be bought at your local grocery store is not actually real food.  Work on eating real and nutritious food and protect your sleep well.  Seek out and maintain a healthy work / life balance.  Call your parents if you’re lucky enough to have them still, hug your loved ones!  Try smiling sometimes during a phone call, it will change your tone of voice for the better.  Use someone’s name when appropriate when ending a phone call with them, especially when speaking with someone you may never speak with again and see how it brightens their day.  Remember that the individuals you work directly with and negotiate for and against are important, and their goals matter.  Life is larger than work.  There will always be another deal, but the people surrounding you are of real and lasting importance.  If you value people well, it will be evident to others and contagious.

Be the change in our industry that you want to see!  Practice slowing down and be intentional about caring for those around you.  It’s the best way to better serve your clients and you will find your work to be much more meaningful, purpose driven as well as more fun.  True and lasting success in real estate is characterized by respect and genuine care for others!

“It’s Nice to Be Nice and it Doesn’t Cost a Penny!” – Warren Buffet