I Lost a "Deal" Today, How Should I Respond?
I met an old timer at a networking event about a year prior to him reaching out to me. He called me in October or November of last year saying he had a client looking for 19,000 square feet. He is a landlord rep for a Class B (at best) property a building or two down the highway from my Class A building. He says that this client walked into his building but they didn't have that much vacancy and wanted to know if I did and was now going to rep the client. Of course I was all over this because it's a full floor for a property that we purchased knowing that it was going from 50% to 20% as 2 largest tenants were moving out. So I'm basically doing anything I can to raise occupancy so that I can gain recognition at my company and in the most struggling submarket of Houston but also the great commission earning potential. 

Anyway, I got a bit side tracked. So I took the broker out to lunch. He didn't seem to want to discuss the client much so I didn't push it. Figured he wanted to build more rapport first. I kept following up with him and I kept getting the "let me call my assistant and get back with you, let me follow up with client and get back with you, etc etc" he never followed up with me and I always called him and explained the incentives, abated rent terms, 12% broker commission special, building features, TI allowance, etc etc. He was in and out of town during the holidays (understandable) and his assistant had a serious family emergency (understandable) so we both agreed to revisit this at the beginning of the year. I called him first thing upon returning to the office first week in January and got the whole "let me check with client to see when they can tour and I'll call you back". I called him again today and he told me that his clients legal team is reviewing the lease agreement for a "hell of a deal in one of the former Exxon Class AAA buildings". I'm pissed because one, the "client" walked into an at best class B building. Two, I believe he has somewhat of an obligation to at least show his clients the other class A options in the submarket as we can certainly compete on rate, abated rent, amenities etc. I don't feel like he owes me anything but I do feel like he owes his clients at least a tour in our building. Perhaps they didn't want to tour my building- so tell me that. Anyway, I told him I could match their abated rent and that our building amenities were the same and that we provided stable ownership as well as higher occupancy and stability and we would pay him 12% commission on the deal at signing. I asked him if he would put an unsolicited proposal in front of his client and he basically was like "let me ask my client if they are interested and call you back" to the best of my knowledge our rate is $8-12 psf lower than the building they are moving into. Suggestions? Drop it and move on? Get extremely creatively aggressive? Ugh I can't sleep over this! 
[{"id": "dcklyxn", "text": "Also the building that they are going into is changing ownership and 100% vacant. ", "replies": [{"id": "dco7qga", "text": "TBH, you never had a \"deal\" here to begin with. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dckx6o5", "text": "Roll with the punches. I lost 3 tenant rep assignments last year. I didn't qualify them properly, and learned from it.\n\nThese two product types are very different, it's not quite apples to apples. Maybe the Class A building had a gym and great cafe where yours doesn't. For some businesses, it makes sense to go Class A, others need a Class B product. You may not have had a chance to begin with, price isn't everything.\n\nChin up, keep going. We're running a marathon.", "replies": [{"id": "dclw7jd", "text": "When you say you didn't qualify them, what do you mean by this? Trying to get into tenant rep myself so curious to hear your protocol/procedure", "replies": [], "depth": 2}], "depth": 1}, {"id": "dckxtjp", "text": "Hello, fellow Houstonian!\n\nI'm sorry that happened. I agree, roll with the punches as the previous commenter said. As I'm sure you know, Houston has a LOT of class A vacancy at the moment. Unless you have a unique product, it's a tough market right now.\n\nJust curious, which side of town are you on?\n\nBest of luck with future deals. ", "replies": [{"id": "dcl0abj", "text": "Thanks! I work the Northbelt area, yes Greenspoint. Tough stuff but thankfully we've been steady with sizable (for us) deals. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dcoh598", "text": "This is why there is so much secrecy and CRE data is so closely held.  CRE can be such a zero sum game as it is played in such a regional field.  Before talking about anything, you always feel like you need total control of the deal or else someone is going to come in and steal it.  You definitely need to let these setbacks roll off your back and drive on because this will always happen.", "replies": [], "depth": 1}]