Today’s hot water cooler topic was likely the NFL replacement referees blown call in the Green Bay Packers versus Seattle Seahawks game on Monday night that cost the Packers the game. I will spare you the details of what happened since you likely know unless you live under a rock or are not a sports fan.
Most of the criticism today was pointed towards the National Football League who is embroiled in a labor dispute with the regular NFL referees. The replacement referees for all their ineptitude are not catching that much flack, except for the humorous memes like the one above. The NFL, specifically the owners are bearing the majority of the blame for utilizing referees who simply are not qualified to officiate a National Football League Game and therefore are damaging the integrity of the game.
The replacement referees have officiating experience but not at the NFL level where the game is played a much higher speed than Division 2 college football or high school games and they don’t know the nuances of NFL rules or possess the instincts to fairly preside over the game. In essence, they know just enough to be dangerous.
Don’t Hire Replacement Brokers
You knew the CRE twist was coming. I would draw the analogy of using a residential realtor to handle your complex commercial real estate transaction or using an investment sale broker to handle your lease transaction. They are familiar with commercial real estate, but not all the nuances of the niche market or the steps to effectively managing a specialized transaction. When I buy or sell a home, I hire a residential realtor, rather than handling it myself, because I know just enough to be dangerous.
While it certainly feasible for commercial real estate professional to be savvy in more than one discipline or niche. I for example specialize in office lease transactions and healthcare and I have sold many office buildings. However, if it is a true investment deal versus a user property, then I bring in one of our investment specialists. I often have clients that have industrial requirements in addition to office space and in those cases I bring in one of our industrial professionals to lead or assist in the assignment.
When I get into an area that I don’t know backwards and forwards, I want someone on my team that does. I don’t want to get into a situation where I am not the most qualified and not serve my client’s best interest by going it alone. I don’t want to get into a situation where I am out of my league and like the NFL replacement refs, I blow the call. My advice to tenants and commercial property owner is do not hire replacement brokers and damage the integrity of your real estate deal.