Posted on Apr 01, 2017
It applies in every industry. We don’t know what we could know. Or should know. Or need to know.
Ultimately we are all responsible for educating ourselves. But sometimes there needs to be a little guidance. Not just in knowing where to learn – but what to learn.
Expedio has been particularly active over recent months in the smaller industrial unit market - units from 200 – 600 m2.
And whether it is leasing, or selling to owner–occupiers, the most common factors are that potential tenants or buyers have very little idea about how the industry works.
Not that they need to have in-depth knowledge. The potential purchaser or tenant is running a service business, or a logistics operation, or a manufacturing company. And they will know how that industry operates intimately.
In a way there is a parallel to the situation where we go to buy a new computer. We are bombarded by bits and bytes, and ROMS and RAMS. And refresh rate and aspect ratios. But are we asked what we are doing with our computer purchase, and what is important to us?
The property industry is very similar, in that the agent (or broker or negotiator or whatever title is the flavour of the month) has an opportunity as an intermediary to guide the potential tenant or buyer to the places where they can learn the basics, the things they really need to know.
Overwhelming with the equivalent of bits and bytes, ROMS and RAMS, does little to advance transactions, and often just confuses further.
We believe that there is a case for agents not only qualifying potential clients, but assisting them by enhancing their understanding of the process.
An educated and enlightened client will always be a better client for all of us.