Mastering the Deal: 3 Rules for Simple & Complex Deals

On today’s episode of CRE – The Unspoken Truth, Craig dives into a couple specific deals that stand out to him when looking at his career. Craig also shares his 3 rules for simple and complex deals.

3 Rules for Simple Deals:

1. Build the relationship at every opportunity you get – have the long term view
   • Competency and excellency is the #1 way to build the relationship – dot the i’s and cross the t’s. Go above and beyond!
   • Refer and introduce people to your clients. Solve their problems, help them get more business.
2. Get the deal done
   • There’s always issues, brokers get paid to know the big and small problems. Don’t major in the minor. Take stands on big issues, let the other issues go.
3. Get more business
   • The hardest part of brokerage is we build a great relationship, do a great deal, then we have 4 years until we need to talk to them. Getting more business starts with just earning this business again.

3 Rules for Complex Deals:

1. Build the relationship
   • Don’t just build the relationship with your client. Build relationships with the 5-10 people you need great relationships with to get these complex deals done.
2. Use every skillset you have
   • Negotiation, termination, acquisition, construction, financing, legal, etc.
3. Stay the course. Most complex deals close at a ~10% rate. Stay committed.
   • Build your muscles on complex deals. This makes the simpler deals easier.