Tanner Dean - Realtor
There are a few common mistakes I see in commercial real estate that can cost business owners more than they realize.
·The first is not fully understanding what you’re signing. Lease terms, renewal clauses, rent increases, and hidden costs can impact your business far more than the monthly rate itself.
·Another big one is waiting too long to make a move. A lot of business owners stay in “wait and see” mode for years, when in reality, building equity or locking in the right space earlier could have put them in a much stronger position.
·And finally, focusing only on price instead of long-term fit.
The cheapest option today isn’t always the best decision for your business tomorrow.
Commercial real estate isn’t just about finding a space. It’s about making sure the structure of the deal actually supports your goals.
If you ever want a second set of eyes on a sale or lease, I’m always happy to take a look and give you a straightforward opinion!
Here’s what I’ve learned along the way in real estate:
· People don't just sell houses; they sell the memories tied to them. The place where their children took their first steps, where they endured tough seasons, or where a marriage came to an end. I've learned the importance of slowing down and honoring that, even when the market doesn't.
- Once, I spoke with a woman going through a difficult divorce just before leaving her house. I noticed a Bible on her desk and shared that I believed God was working in her life. I also opened up about my mom's divorce, how challenging it was at the time for us kids and her, but how it ultimately brought about a ton of good for her and how happy she is married to my step dad, who also was a great gift to us kids. I'm not sure if my words resonated, but I've realized that sometimes this job isn't about real estate at all, it's about being there for people.
· Effective negotiation begins long before making a counteroffer. Yes, a deep understanding of contracts and forms are imperative, but it starts with sincerely understanding how your client defines success. You can't truly advocate for someone's best interests without first knowing what they value most.
· In my first year, I'll admit I was focused on myself. Transitioning from a salary to an uncertain income can do that, especially when you have a family or others who you're attempting to provide for. It took time to shift my mindset and realize that true value comes from showing up for others with no strings attached, despite what that meant for me in the moment.
· Real estate isn't always easy. But it's one of the few careers that allows you to stand beside people on both the best days of their lives and the hardest. I've come to see that as a privilege, not a burden.
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Lubbock, TX