The “win-win or no deal” strategy is a popular concept in commercial real estate transactions. This implies that either both parties in a contract should strive for a mutually beneficial result or abandon the transaction entirely. This takes into account the parties' interests when expecting an arrangement in which both the client and the broker feel like they've "won" a desirable outcome. Businesses have long used tactics that promote a survival-of-the-fittest attitude, such as this win-win or no-deal strategy. Making the sale seems like a brutal rivalry in a dog-eat-dog market with minimal supply and demand to make a deal. Commercial real estate is often portrayed as one of these markets, in which brokers work to close a deal at any expense and the sale takes priority over all other considerations. This strategy assumes that the result affects only two people: the broker and the customer.
Instead, the idea of a win-win-win situation can work better in commercial real estate. This invites a third party into the picture: the larger, wider world. I've seen this third dimension come full circle for our clients, as described in John Mackey's Conscious Leadership: Elevating Humanity Through Business, where he explains the third win that introduces a positive group outcome. We are able to build community and partner with experts in their markets to seek the best possible outcome for all stakeholders involved by approaching each deal from a servant leadership perspective. There are two main ways commercial real estate will affect the neighborhood when this win-win-win strategy is used.
How to add value to the deals?
When a brokerage asks if it can add value to a client's portfolio, we're best placed to recognize areas of need and provide long-term guidance, whether it's to purchase, sell, reposition, refinance, or retain a house. This results in a net-positive outcome for the brokerage in terms of long-term business and referral traffic, enabling us to continue to develop new and established relationships. We've built an atmosphere in my company that encourages brokers to become the best versions of themselves, making ethical choices for their clients and society while maintaining their personal integrity. As a result, we've been able to keep coming up with new ways to bring value to our customers.
How to give back to clients?
Another secret to commercial real estate success is to give back to our society, whether financially or by creating opportunities for brokers to volunteer their time through service projects. Giving back encourages us to understand our environmental footprint and the impact we have on a larger society. When you donate, you get more back — and there's so much more reward and satisfaction to be had by donating proceeds, time, and skills to our local communities.
Many commercial real estate brokerages were able to weather the storm despite the Covid-19 pandemic. Despite the fact that deal production slowed and pipelines shrank, the industry as a whole performed admirably. It's also crucial to remember what we stand for on the other side of these obstacles. What a powerful ripple effect it could have if all brokerages pooled their resources to establish a charitable arm and give back to their communities, especially during difficult times.