Managing Expectations

David Harris | Associate Vice President

The most insulting adjective that can be used to describe a real estate advisor, in my opinion, is “salesy.” Although in the short run, overpromising can turn a prospect into a client, the foundation that consistent success is built upon relies on building a client-base that trusts their broker with all of their real estate decisions – and thus, continues to rely on said broker in future dealings and transactions.

Sure, being a “yes” man in a meeting with a client is easy.

“You want the Taj Mahal? Granite floors, all glass offices? And you want to do a 5-year deal to maintain flexibility? I know we can get that done!”

“You need a rate $7.00 below market and 10 months of abated rent? Tell me when to get started!”

Ultimately, months down the road, after being promised the moon, reality begins to sink in for the client. Now, they must change their projections and realize that their leverage timeframe has become truncated in their broker’s pursuit of the white whale.

Successful client management is based on several things. Foremost, it is based on building and maintaining trust – delivering (and often times exceeding) on the expectations set out on the front end.

Yes, being realistic and honest with a prospect may end up costing you a shot at their business. But in the long run, your client-base will be filled with companies/decision makers who not only trust your judgment but also respect you as a partner in their pursuit of business success – rather than being thought of as that “salesy” broker.