Maybe a simple question. I have to back out of a big lease (draft) last minute, do I just rip the bandage off and tell their broker?
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[{"id": "fc3xit4", "text": "Lol in this industry you don\u2019t even have to reply to the broker. Amazing how many people just disappear off the face of the earth in the middle of a deal. \n\nThat said, I\u2019m sure he\u2019d appreciate a candid reply that you actually need more space after the success of the holiday season.", "replies": [], "depth": 1}, {"id": "fc3y6u6", "text": "Yeah man, tons of people ghost in this business.  A polite call is always the professional thing to do.  Will the guy be a little sad? Sure, but that's life.", "replies": [], "depth": 1}, {"id": "fc3zuu5", "text": "happens all the time. ALL. \ncoming from the broker side it sucks spending time on a deal and it falling through in the 11th hour but hey shit happens.  they're big boys.  they'll get over it.   it would be worst if it was a tenant rep broker and not a LL broker.  so yes. fuck em. who cares. move on and good luck with your business", "replies": [], "depth": 1}, {"id": "fc43lpo", "text": "Don't grow too fast because you've experienced some viral growth that most likely isn't sustainable in the long run.  You might end up risking everything from a single viral event, instead wait a month or two before undergoing rapid growth that adds significant headcount.  I know that isn't the advice you were looking for but it is something that jumped out at me in your post.\n\nOn the original topic, just let them know. You are probably not the only deal this month that went south unexpectedly.", "replies": [], "depth": 1}, {"id": "fc46ahd", "text": "Well they have a lot of time sunk into it, so it will suck no matter what for them. \n\nBut this is business and nothing is done until the lease is signed. It is mostly on them as well as the broker should know time is the killer of deals. They should have been more prompt on the application and getting the lease to you so it could get wrapped up faster. \n\nSo I wouldn't feel bad about it and just tell them you changed your mind.", "replies": [], "depth": 1}, {"id": "fc4i2hw", "text": "You will probably get a better deal if they\u2019re motivated if you are interested. Keep in mind, if you give them the option to match or make the existing deal sweeter then it\u2019s not you saying no to them but them saying no to you in a way.", "replies": [], "depth": 1}, {"id": "fc4is0w", "text": "Do what\u2019s best for you, man.", "replies": [], "depth": 1}, {"id": "fc56czl", "text": "Just tell them. can't believe how fragile some people are in this sub, regarding delivering or receiving bad news. It's part of life and definitely part of any business. The irony is that it's even more unhelpful to the other party if you ghost them instead of just telling them straight up. Get it over with", "replies": [{"id": "fc56fal", "text": "also you're not doing anything wrong. You're feeling bad vibes from the deal and you haven't signed yet, so you're fully within your rights to pull the plug. You don't owe them a single thing", "replies": [], "depth": 2}], "depth": 1}, {"id": "fc5e9hf", "text": "80% of the work a CRE broker does for a client/prospect goes unpaid.  Rip it off.", "replies": [], "depth": 1}, {"id": "fc5p02d", "text": "Just call and tell him what's going on. Part of the business. If you expect you may do business with this broker in the future and want to throw him a bone you could ask him to represent you on the lease at the other place if you're not already too far along. May be misconstrued as a conflict for him though. Us brokers know you haven't finished your job until the check is in the bank. Happens all the time. Sometimes people see the size of our fees and think we're making millions when in reality 80% of your time is working on transactions that never close or take way longer to happen than they should have.", "replies": [], "depth": 1}]