Common Interest

By Darrell R. Levonian,

One of the keys to successful relationships that are created between business entities lies in the area of shared common interests. The real estate broker, as well as the client should have the same interest in seeing that the business opportunity (be it in Downtown Los Angeles or anywhere else) remain strong over the years to come, both in its cash flow and equity appreciation. Equally, the real estate broker and the client have the same interest in being aware of the risks inherent in the industry and the investment opportunity. They are both committed to the successful management of the risk factors in formulating the transaction in order to achieve growth. Artfully handled, this relationship and a foundation to build from in the years to come.

How can mutual benefits be realized? The real estate broker and the client relationship should be a complimentary one. The relationship should grow to be a team focus. The broker should have deep sense of commitment and a full understanding of the client’s needs to proactively benefit the client. The client should take the time to answer appropriate questions, which the real estate broker raises and those questions should be perceived by the client to be a benefit in the relationship. Real estate brokers should understand all goals and the mission of the client in the particular business opportunity.

By the client and the real estate broker communicating goals, the client’s needs can be identified.

The bottom line is that both parties are in the relationship together and it serves both their interests to develop a close relationship. In today’s real estate environment, transactions and issues affecting transactions and other factors change frequently and sometimes without notice. As the local economic conditions change opportunities as well as the challenges become very clear and focused. The mutual vision of the real estate broker and the client is extremely important and should not be compromised or overlooked to achieve the best results.

Darrell R. Levonian is President of Charles Dunn Company, Inc.