My last column for the Business Times was headlined “It’s all about the numbers.” As I explained, commercial real estate is about the cost of land, construction, income streams, sales projections and business models.
Commercial real estate really is all about the numbers — except, of course, when it’s not.
When might that be, you ask? When a deal moves from the financial aspects to the more emotional elements. Behind all that number crunching are people who bring their experiences, both good and bad, to real estate transactions.
Transactions can take on a life of their own in something I call the goodwill of the deal.
The goodwill of the deal can keep a transaction alive as buyers and sellers navigate due diligence issues and sellers accommodate buyers in a manner which, at their discretion, serve their best interests and result in the successful sales of their properties.