When I first got into the commercial real estate business, my stepfather Brent drilled this statement into my head: Time Kills Deals. Of course I had to “test” that philosophy as any good son would do. What were the results of my “tests”, you ask? Let’s put it this way – I tell all my clients up front that Time Kills Deals, and I advise that they act with a sense of urgency throughout the process.
Brent put an exclamation point on his advice with this story… A number of years ago he was in the process of selling his company. Every morning he woke up with a Time Kills Deals sense of urgency and this one thought on his mind: “What can I do today to move this deal forward and get it closed as soon as possible?”. Brent closed the deal in 89 days, a record time for the private equity group representing him. It usually takes +/- 180 days to close a transaction like that.
What’s the punchline? He closed the sale 52 days before Lehman Brothers filed bankruptcy that issued in the start of the Great Recession. Without the Time Kills Deals sense of urgency rolling through his mind every day, he may not have sold his company. And his life would probably look a lot different than it does today.
I’ve learned over the years that the Time Kills Deals philosophy applies to many areas of life, not just real estate. Ask yourself, “what I am putting off or slow playing”. Returning a call, making a decision on an investment, hiring a person, seizing an opportunity, closing a transaction, apologizing, calling a prospect, etc.? Think about the phrase Time Kills Deals and consider where you need to heighten your sense of urgency today.
How Barkley Can Help You
I assist my clients to buy, sell, and lease commercial buildings and land in the Houston Region. I help them leverage their real estate needs to achieve their business or personal goals. Call me for a free consultation.
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