Time is money. You don’t waste money so naturally you don’t want to waste time. And you certainly don’t appreciate it when somebody wastes your time. It’s almost like they’ve put their hand in your pocket and taken what you’ve worked hard for.
Keep this in mind the next time you’re out exploring a market. Those brokers that you’re talking to about your next location/new concept, etc. really don’t appreciate it when after spending time searching, talking to landlords, and generally trying to satisfy your request, only to learn that for whatever reason, you’ve decided not to go forward. You don’t have financing, you need a partner, a franchisee, your wife doesn’t like it, your brother-in-law on the other side of the country doesn’t like it, whatever.
Remember that the majority of the brokers that you are calling are independent business men and women. Sure it’s very attractive to use the brokers’ services, especially when the landlord is paying for those services. And sure, that broker may be operating under a big umbrella-company but at the end of the day, most are one-man-shows that ‘eat what they kill’. A few hours or days spent with a ‘big talk/no action’ client is time wasted, time that could have better been spent on a ‘paying customer’. And don’t forget the reputation that’s tarnished.
Keep in mind that you are calling that broker for his/her knowledge of the market AND his/her contacts. A reputation suffers quickly when the contacts feel that the broker is on a ‘fishing trip’.
You’re in an industry of professionals and regardless of the size the company is, everybody should be treated with common courtesy. You’ll find that courtesy always comes back…………………WP