INVESTING IN GREAT PARTNERS

In recent years, I’ve heard more people saying some version of your network is your net worth. I don’t entirely agree, but they have a point. Relationships with high-performing people are among the greatest assets any business can have.

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One particular deal we did a few years back really demonstrates how Alliance thinks about partnerships -- in this case with a broker.

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Alliance was preparing to sell a commercial property in Michigan, where state environmental laws required a special certification. Many potential buyers from other states were unfamiliar with the requirements, so selling the property required more buyer education than usual.

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As the weeks passed without significant traction, we made the hard choice to change brokers. Our search pointed us to a promising young option. His energy and great communication skills impressed me immediately, and after some diligence we decided to give him a shot.

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Within just a few weeks, we started getting the kind of interest we had expected. And in 90 days, we sold the property for a nice profit for our investors. It was clear that our new broker had added significant value.

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What’s better than closing a great deal? Closing a lot of great deals. This first sale was the start of a great relationship. Over the years, we’ve done a lot more great deals with the help of this high performing broker. His strong understanding of the business, clear communication with both buyers and sellers, and dogged persistence in the face of challenges is what I look for in a partner.

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The decision to take a risk on somebody new has paid dividends to Alliance for all the years since. Success requires great people, like this broker, who know their business and go the extra mile.

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The time and effort we spend investing in relationships with talented people is one of our highest-return activities in service to Alliance’s investors. High quality partners are a key to our success. Excellence spurs more excellence in a virtuous cycle.

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