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Commercial Real Estate - An Industry of Reputations

Commercial Real Estate

Written by Liz Krebs, Vice President

This cartoon has been on the bulletin board in my office for years. I love it because it’s funny, but also because it’s a good reminder of how important one’s reputation is in the real estate business.

Over the years, I’ve come across my share of disreputable brokers and “used car salesmen” that fit the cartoon’s description. But for the most part, and a big reason why I’m still in this business, is because of the quality people and strong relationships I’ve developed over the years with clients, fellow brokers and tenants.

For such a large city, retail real estate professionals in Chicagoland make up a remarkably small group of people. I’ve dealt with many of the same professionals year after year. Brokers sometimes move from one company to another; real estate directors shift from retailer to retailer; clients sometimes make moves to other companies. But overall the names and faces have remained remarkably consistent.

By maintaining strong relationships based on trust, professionalism and generally “doing the right thing,” these job shifts often create additional business opportunities. Today’s director of real estate of a 2,500 square foot fast food concept could be the next director of real estate for a large anchor store. Today’s asset manager of B or C grade property could be tomorrow’s manager of a large REIT.

Bottom line, it’s a person’s reputation that follows them from place to place. Always treating people fairly and with respect goes a long way toward being a success in this crazy real estate industry.

Elizabeth H. Krebs | Vice President
Mid-America Asset Management, Inc.
One Parkview Plaza, 9th Floor | Oakbrook Terrace, IL 60181
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