Most everyone knows what it feels like to plan something and set expectations on the outcome, only to encounter an obstacle along the way. Almost immediately, the bottleneck increases stress levels – because, as everyone knows, complications lead to delays and less than optimal results.
In the commercial real estate (CRE) industry, the space in which these losses occur in are known as “expectations gaps.” For the commercial investor and their team, the consequences of a gap can be dire, resulting in lengthy delays and lost income. Learn more about what causes these gaps, and how your firm can overcome them, in the following sections.
CRE Lawyers and CRE Investors – Results vs Expectations
Real estate attorneys are often seen as the “bad guy” in a real estate deal – the reason that bottlenecks occur. This is not the case, however.
Lawyers scour through lease agreements, often thick packets filled with dozens (perhaps even hundreds) of pages. They look over every line, every minute detail for any discrepancies or potential issues that might negatively impact their client. In short, they are not the cause of the expectations gap; they are just perceived as it because their part in the process requires a great deal of time and effort. Thankfully, there are ways to overcome the lags in deal closures. These same strategies can also help real estate investors overcome the expectations gap.
Addressing the Real Cause of Expectation Gaps
When investors walk into a contract, knowing that it will take time to adequately ensure their protection in a real estate transaction, their expectants become more realistic. Investors can further aid their lawyers (thereby further minimizing the expectations gap) by ensuring that they provide all details and information, upfront.
Investors who work closely with an attorney – not just during deals, but also in between them – can also see an improvement in the time it takes to close a deal. It during these in-between phases when problematic issues in former leases can be addressed, negotiations can be improved, and due diligence can be adequately conducted.
Contact Our Seasoned Naperville Commercial Real Estate Attorneys Today
Another way that real estate investors can address the expectations gap is to find a skilled and knowledgeable attorney in the real estate industry. Lindell & Tessitore, P.C. is one of the most trusted firms in the state. Schedule a personalized consultation with our seasoned Oak Brook real estate attorneys to see how we can assist with your investment portfolio. Call 630-228-2555.