were a lot of unknowns. We had to convey
to the second party that we would reach a
general consensus on what this deal should
be without knowing all the facts. We knew
that in order to meet the time frame to get the
deal done, there would be items popping up
that we had not even considered yet and that
any surprises would be sorted out, that the
other agent and I would solve things together.
Everyone looked at each other, shook hands,
and signed the deal.”
That deal was done in less than 60 days,
Kronman says. “Again, it was because there
was a pair of professional brokers on both
sides of the deal. It wasn’t anyone’s first
That satisfactory conclusion was a lot
different than a lease transaction that should
have been open-and-shut simple.
“We had one of our clients agree on rent
and terms,” Kronman recalls. “We were
scheduled to sign the lease the next morning
and were finalizing last minute comments.
The owner of the building was sitting in on
the call when their lawyer says, ‘We cannot
give you this level of interest because of our
The deal went sideways immediately,
but it all could have been avoided if the other
broker knew the financial status of the tenant
he was dealing with.
As Aponte observes, “the broker is
responsible for outlining all the terms and
giving the lawyer all the information. If
information is missing it slows the process.
That’s a difficult situation because time can
kill a deal.”
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