Reality Vs Fantasy

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Reality Vs Fantasy

Opening: "I'm Laura Munoz and welcome to Let's Talk Commercial Real Estate a newly created video blog covering topics of interest for commercial brokers and borrowers sponsored by American Life Financial. We'll be chatting with members of the real estate community asking them questions that you use submit on social media."

Laura Munoz: "Welcome Dave."

David Kotter: "Thanks for having me."

Laura Munoz: "It's great to have you"

David Kotter: "Yeah"

Laura Munoz: "Okay so what's your secret? How do you keep your customers happy?"

David Kotter: "Well I can't give that outcome. So we, our whole focus is on what we call proactive-ness. So we really want the clients to have extreme confidence of execution at the end of the process. So we spent a lot of time going through the particulars and the details to minimize the risk for them- A: to get the transaction done and any particular issues they might run into in the past so our whole thing is we're selling and dealing with clients about process because we realize that each little step will be a cumulative to get to the end product and so for us we spend more time focusing on proactive-ness and process to get to the end result and so that's what we really makes us unique."

Laura Munoz: "So this talks to managing expectations."

David Kotter: "Sure."

Laura Munoz: "That this is the expectations of not just your customer but also the lender or the thing that you're getting the money for? All right talk to us a little bit about a little more if you could elaborate on that"

David Kotter: "Absolutely I think everything really comes down to managing people's expectations so whether somebody has a fantastic experience or horrible experience really is predicated on how well or poor we do in managing that clients expectations as well as the lenders so we have to understand and gather the information to be able to know exactly what we're gonna get into and so we spend a lot of time with clients making sure they understand that hey this is gonna take this much time this is what you can expect through the process you know you're a small business owner you do your business really well don't expect that it's going to just go smooth we're gonna get a lot of data a lot of information here's the amount of time it's gonna take so for us it's just giving somebody a realistic picture of how things are gonna go and not trying to paint a picture that's not there."

Closing: "Have topics or questions you'd like covered on let's talk commercial real estate? Or if you'd like to be a guest on Let's Talk Commercial Real Estate, please contact us at letstalk@notsohardmoney.com. Like us, follow us and share us on social media."

Reality Vs Fantasy

David Kotter shares with Laura the value of managing expectations.