Vincent Murphy Business Broker
The Three Things I love about my
business broker and Merger & acquisitions
The ability to qualify well is a skill procured by commercial real estate professionals after many years in the industry. And yes, it is a skill likely acquired through failure, or in some cases, getting burnt by an unscrupulous client.
But if a qualified prospect or client is “ready, willing and able”, what are the 3 analogous characteristics of a truly qualified and successful Business Broker and commercial real estate professional? The three keys to commercial real estate success are the individual’s command of 1) Skill, 2) Will, and 3) Thrill.
1) SKILL
Skill is not talent; don’t confuse the two. I have worked with many talented brokers, managers and mortgage brokers. They were naturally charismatic, very astute in a particular element of a transaction or a good negotiator. Many of us are born with certain talents but no one is born with a skill. Skills are acquired through hard work, experience (the aforementioned failures), and practice. Show me a top producing associate and I will show you someone with skill. Yes, they may have talent, but they definitely have the skill.
2) WILL
Will is the decision to put in the hours and work on each of the many variables associated with a business brokerage sales and commercial real estate brokerage to truly acquire the skill. Think about those who are market leaders and they are most likely the hardest working brokers in your office. If not, they certainly put forth the effort early on in their career to create a platform of continued lead generation. Today, there seems to be a belief that the web is going to decrease the need for hard work. The web, if utilized correctly, can be a great source of lead generation but ultimately you must have the will to develop the skills necessary to do something with those leads.
3) THRILL
The THRILL is the separator of all true top performers. They love what they are doing and see every day as both an opportunity and a challenge. Top performers don’t view the work needed to acquire the skills as necessary evils. They view these as personal investments in their growth. They have the will to acquire the skill and even more so, they are thrilled to do it.
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