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Here's how you can navigate market fluctuations in commercial real estate using emotional intelligence.

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Navigating the unpredictable waves of commercial real estate requires more than just financial savvy; it also demands a high level of emotional intelligence (EI). Emotional intelligence is the ability to understand and manage your own emotions, as well as recognize and influence the emotions of others. In commercial real estate, where market fluctuations can test your resolve, EI becomes a critical tool for maintaining composure, making informed decisions, and fostering strong business relationships.

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CA Akash Jaiswal

Chartered Accountant (FCA) | Service Professional | Outsourcer | Ex-Deloitte | Audit & Assurance | Forensics | Building…
Dena Pi?a

Master of Science in Business Management Project Management Specialization PMBOK

1 EI Basics

Before diving into the complexities of the market, it's essential to grasp the fundamentals of emotional intelligence. EI is often broken down into four main components: self-awareness, self-management, social awareness, and relationship management. In commercial real estate, self-awareness allows you to recognize your emotional triggers and biases, which could cloud your investment choices. Self-management enables you to stay calm under pressure, a frequent occurrence during market ups and downs. Social awareness helps you understand the emotions and concerns of tenants, buyers, or sellers, while relationship management is about using this awareness to navigate negotiations and maintain positive interactions.

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CA Akash Jaiswal

Chartered Accountant (FCA) | Service Professional | Outsourcer | Ex-Deloitte | Audit & Assurance | Forensics | Building teams across | RERA Consultant
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Emotional intelligence has to do a lot in the real estate market, especially in India. At times real estate is about investments but more often than not the real estate properties have to do a lot with Emotional Quotient, what is why in India the sale and purchase of existing units is not much.

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Dan Friesland

Chairman & Managing Member at Madison & Wake, LLC
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Totally agree with these assessments. From an emotional perspective, I learned the hard way in getting way too deep on a commercial project I just had to have. Spent way too many hours and money for what ended up to be a lost cause. Yes, I lost the deal!

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2 Market Insight

Understanding market trends and economic indicators is crucial, but integrating emotional intelligence into this analysis can give you an edge. For instance, if you sense panic due to a sudden market downturn, EI can help you evaluate whether this reaction is based on facts or fear. By remaining level-headed, you can see beyond the immediate turbulence and identify long-term opportunities that others might miss. Emotional intelligence also enables you to communicate market realities to stakeholders in a way that is both empathetic and reassuring, which is invaluable when navigating through uncertainty.

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3 Decision Making

When it comes to making decisions in commercial real estate, emotional intelligence can be your guiding light. It equips you to approach negotiations with a clear mind, even when others are driven by emotion. For example, during a bidding war on a property, EI can help you assess whether your desire to win is based on the property's value or the heat of competition. By understanding your motivations and managing your emotions, you ensure that every decision is strategic and not just a reaction to the market's ebb and flow.

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Dan Friesland

Chairman & Managing Member at Madison & Wake, LLC
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Lots to digest here because true as it is written, one has to learn to temper the emotions. I learned the hard way and can only say, “ don’t be the kid in the candy store.”

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4 Relationship Building

In commercial real estate, building and maintaining relationships are as important as closing deals. Emotional intelligence fosters trust and rapport with clients, colleagues, and competitors. It encourages active listening and genuine engagement, which can lead to more successful collaborations and partnerships. By using EI to understand and respect the perspectives of others, you can navigate conflicts and negotiations more effectively, ensuring that even during market fluctuations, your professional relationships remain strong and beneficial.

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Dan Friesland

Chairman & Managing Member at Madison & Wake, LLC
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Relationship building is for me, one of the most important aspects of getting a deal done. The sellers have to have a comfort level with you as they’ve put a lot of time and effort in the property they are selling. In other words, it’s mentally hard for them to let it go. So, be serious about your relationship building and mean it. Don’t be superficial!

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5 Risk Management

Risk is an inherent part of commercial real estate investment. Emotional intelligence helps in assessing risks not just quantitatively but also qualitatively. By being aware of your emotional state, you can avoid knee-jerk reactions to market changes and instead focus on data-driven risk assessment. This balanced approach can prevent you from making hasty decisions based on fear or greed—emotions that often run high during periods of market volatility.

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Dena Pi?a

Master of Science in Business Management Project Management Specialization PMBOK
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I've experienced this first hand and agree 100% with the fear perspective. Always have your emotional state in check or don't make a purchase.

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6 Resilience Cultivation

Finally, emotional intelligence contributes significantly to resilience. In a fluctuating market, setbacks and challenges are inevitable. Your ability to bounce back from disappointments and maintain a positive outlook is crucial. Emotional intelligence helps you process setbacks constructively, learn from experiences, and move forward with optimism. This resilience not only benefits your mental health but also signals to clients and colleagues that you are a reliable and steadfast professional, even in the face of uncertainty.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can navigate market fluctuations in commercial real estate using emotional intelligence.

1

2

3

4

5

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1 EI Basics

2 Market Insight

3 Decision Making

4 Relationship Building

5 Risk Management

6 Resilience Cultivation

7 Here’s what else to consider

Commercial Real Estate

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Here's how you can navigate market fluctuations in commercial real estate using emotional intelligence.

1

2

3

4

5

6

7

1 EI Basics

2 Market Insight

3 Decision Making

4 Relationship Building

5 Risk Management

6 Resilience Cultivation

7 Here’s what else to consider

Commercial Real Estate

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