February 2012
13 posts
Information is only part of the formula
There are plenty of brokers out there that simply market themselves by saying “they know the market.” When I first got into the business, knowing the market took time and effort. That knowledge was valuable because it was almost impossible to come by without time and effort. But with the proliferation of information on the web, any tenant with some time on his hands and an internet...
“Twenty years from now you will be more disappointed by the things that you...”
Leverage
I’ve written about negotiating with landlords, but it’s worth spending a few minutes talking about leverage. Even my wife, who hates negotiating, understands the concept of leverage when dealing with our daughter. Whether its a landlord or a child, getting a counter-party to acquiesce to your requests require more than begging, cajoling, or screaming and yelling.
You have to either...
“The universe is made of stories, not atoms.” - Muriel Rukeyser”
Freddie Roach On leadership
I was watching HBO’s “on Freddie Roach” while running on the treadmill. Boxing tends to attract all kinds of crazy personalities and off the wall trainers but Freddie Roach seems to buck that trend. While I have always been impressed with him, what really struck me was a voice over quote from Freddie at the end of the first episode.
“When I can’t do this any more,...
Wouldn’t they rather have ANYBODY in the space?
It’s a question that I have fielded frequently during the recession of the past three years. It’s based on the confusion tenants experience when trying to understand why landlords won’t just give their space away for free. There’s no question that real estate math can be confusing for the uninitiated. There are a lot of items that comprise the actual rent and we’ll try to break them...
“Be kind. Everyone is fighting a hard battle.
- Plato (or maybe not…)”
Landlord as Deal Junkie
I remember reading a piece in college titled, “On The Folly of Rewarding A While Hoping For B.” it’s a classic business case that reinforces the idea that it’s about making sure that you are rewarding the result you want. What sticks with me through the years is that if you understand what motivates people, you have a better chance of getting what you want.
To that point,...
"I Done Deals..."
When I first got into real estate brokerage, there was a senior guy in my office who uttered that exact quote to a potential client in a pitch meeting.
I remember being mortified. Both for the butchery of the English language and the message he was trying to deliver. It was true… we had plenty of transaction experience. But I was embarrassed that this senior guy was offering that as his...
“At the end of the game, the king and the pawn go back in the same box.”
