In more than five decades in commercial real estate, I’ve transacted more than 2,000 times!
Some deals have found me on the occupant side of the aisle, and in others I’ve advocated for an owner with a vacant building.
Rarely, I’ve straddled the two factions, a la Ben Hur. This is legal in our world and is known as “dual agency.” Candidly, I prefer the separation in which two professionals are involved.
In considering the deal, I developed — with a little AI help — an acronym for for the steps taken in a commercial real estate transaction. I believed them to be column-worthy, so here it goes.
S — source
This is about developing opportunities before they exist. Sources including outbound efforts like mailers, marketing campaigns, social media content, tapping into inactive clients, direct-to-owner outreach, and any strategic activity that creates deal flow where there previously was none.
E — evaluate
Through sourcing, a lead is uncovered. Whether it’s identifying an active tenant requirement or uncovering a property that fits a buyer’s criteria, this is the moment a generalized opportunity becomes a targeted pursuit.
Q — qualify
Here we determine if the lead is worth the pursuit. This includes my seven-step QUALIFY framework: Quantitative Need, Urgency, Authority, Loyalty, Intent, Fuel, and Yearning — the litmus test for whether the lead has traction and potential.
U — under control
Securing the right to act. Using an exclusive authorization to represent, listing agreements, or exclusive agency agreements, this step ensures you are no longer guessing—you’re executing under formal terms.
E — execute
When activating the plan, you’re touring buildings, sourcing off-market options, or locating buyers or tenants for vacant buildings. It’s about making the market work through active engagement, creative matchmaking, and transactional momentum.
N – negotiation
Signing on the dotted line. Whether a lease is executed or escrow closes, this is the transaction’s inflection point—when opportunity becomes reality.
C – commission
The first rule of brokerage: get paid! Delivering the invoice, ensuring documentation is complete, and creating accountability for payment. This reinforces professionalism and prepares for the next critical step. The transaction isn’t truly complete until commission is received. Collection is part persistence, part process, and part diplomacy.
E – expand
Turning today’s deal into tomorrow’s momentum. This includes sending press releases, updating social media, client thank-yous, marketing your success, and most importantly, nurturing referrals and building repeat business from experience.
Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services in Orange. He can be reached at [email protected] or 714.564.7104.
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