Fools Rush In

Now, don’t get too excited as the title is not referring to the 1997 movie with Matthew Perry and Salma Hayek. I’m also not talking about RadatzWalsh, Inc hurrying to get a Blog started (I think only a few millions people got there first).  Instead, I wanted to share a few thoughts on businesses that Rush Into leasing an office space or  purchasing a commercial building because they feel pressured.  This pressure could come from a number of sources: Pushy agents at the buildings they like overplaying the interest of other prospects, upcoming lease expiration’s or business partners that want to grow too quickly.  Nothing in Commercial Real Estate is one-size-fits all and there are plenty of legitimate reasons some may need to expedite the process.  However, more times than not we find that if anxious tenants and buyers would slow down a bit to consider all of the material points that they’d make a better decisions.  This might seem counter-intuitive for a Commercial Real Estate Broker to be writing as we make our living off of closing deals.  In reality we want clients to be happy with the outcome so we can work with them a 2nd, 3rd and 4th time.

If you have the time start looking for office/industrial space to lease at least 6-9 months in advance or longer if you require larger space and 12-18 months if you’re in the market to buy a property.  Talk to a good broker that will help you set realistic expectations and guide you through the process.  Planning ahead and Professional advice will help save you from being the Fool rushing into any Commercial Real Estate decisions!

I’m already thinking ahead and my next Blog Post will be on the Polar Opposite of this (companies missing out of ideal opportunities b/c they’re too hesitant in making decisions), titled something like: Your finger has been on the trigger for long enough it is time to Pull!  But we’ll concentrate on one thing at a time for now.