cardinal

INSIGHTS

SCROLL

“You Want Me To Reach Out To My Competitor?!”

SHARE:

Dear El Cardinale’

I read in your last newsletter that you are collaborating with competitors. I am in a cut-throat industry and at times it feels that we are at war with our competition.

However, these are unusual times, and there’s an opportunity for us if the competitor was open to it. Do you have any suggestions on where to begin?

– Tuff and Tactical

Dear TT,

If you have hard feelings towards the competitor, work on that first. Don’t give them a call – yet, and consider the following before reaching out:

  • First and foremost, be very intentional in how you go about reaching out to someone. Don’t call a competitor with a general request to brainstorm; you should come to them totally sold on the idea you want to present.

  • Recognize that this could end up being a very high-quality relationship, so it requires you to spend at least 30 minutes to prepare before you call them.

  • Get behind the idea of what you are trying to accomplish, the goal you are aiming for, so your vision is really clear when you present it.

  • Ask yourself: What difference are you trying to make, why is this person so important to talk to, and how will the two of you be good together? Understand the significance of what you each bring to the arrangement.

  • What is the ideal outcome of working together? Paint a picture of what it should look like. This vision should energize you.

  • Ask yourself what’s the worst thing that could happen, and if it’s really horrible, then consider whether you should move forward with the plan.

  • Write down a few things that will have to be true after the call if you are successful. Be as specific as possible. This will help you determine the value of making the effort.

  • Discuss the idea with your partner or mentors or others that will have an interest in what you are about to do

Often we get calls from competitors interested in teaming up because our approach is different. They like our methods and processes, which are designed to give clients confidence in making big real estate decisions.

We also have a track record of making sure that people feel they are overly compensated when collaborating with us. They’ll learn some new things about how to go about their brokerage business, whether it’s new technology or marketing ideas. In turn, I always learn something new from those I work with.

Want to discuss a collaboration? Reach out to us at 704-953-5500.

Real estate transactions can be fraught with frustration and pitfalls.

Sometimes the hardest part turns out to be working with your broker, the person who is supposed to help you through the complexities. Veteran commercial real estate broker and client advisor John Culbertson discovered that brokers’ interests aren’t always aligned with those of their clients. He realized there was a better way to advocate for clients and get the deal done.

GET A FREE DOWNLOAD
related
INSIGHTS
Subscribe

Stay up-to-date with Cardinal Insights, our award-winning newsletter.

TESTIMONIALS

Our clients get senior-level attention.

We’re grateful for our clients. They are extraordinary leaders who have achieved tremendous results. When we think about the companies and people we are fortunate to work with, we are blown away.

Jay Faison
Former President, WirePath and ZoboTV

John and his team were exceptional advocates on our behalf. Their team approach makes sense, and it yielded an excellent value for my company.

Bob Spencer
Senior Vice President, RBC Bank

I got to know John while serving on a state board and observed him be one of very high integrity and commitment to his clients. His approach to serving clients in the real estate business is unique and results-focused. I have no hesitation recommending him to any of my clients. I know he is a true professional and an expert in his field. He understands partnering like no one else!

Lee Roberts
Former Managing Director Piedmont Community Bank Holdings

Truth is, we can easily find real estate that is available in SouthPark. But Cardinal called the landlord of one of our competitors and helped us make a deal for an awesome Charlotte branch. I am extraordinarily pleased with the engagement in every possible dimension.

Ronnie Bryant
Former CEO, Charlotte Regional Partnership

Working with a smaller shop gets you more personal attention. I got the top guy’s attention. You don’t get that with a large organization where sometimes you end up with junior people doing the work. John is detailed; he’s professional, he’s aggressive, and not in a negative way, but in terms of wanting to get it right. He’s tenacious. He would be my No. 1 choice for any real estate deal. I know what to expect. He’s a good guy, and over the years, he's become a good friend, too.

Stephen Pandos
Director of Finance, Insite Properties

Few people have a Rolodex like John. He's about the most networked person I know and people take his call. He has deep contacts with all the major players, both locally and around the region. As a result of John's introductions, we have found several exceptional deals and developed some valuable relationships. You can't put a price tag on this type of access and speed of trust.

Stephen Pandos
Director of Finance, Insite Properties

John has a high tolerance for the mental pain it takes to solve a complex problem. Frankly, his peers in the brokerage industry just don’t have it. I think John’s experience as an operator, investor, developer, and broker gives him a unique perspective when looking at opportunities. His vision, his ability to think forward, is unique in his profession. His ability to see the bigger picture and what the future looks like on opportunities is remarkable. He also is networked - he has deep contacts with all the major players, both locally and around the region. John’s network has opened doors for us. People take his call.

HERE ARE THEIR STORIES
Ready to get started?
Get in Touch