Question: Are commercial real estate transactions more difficult than residential?
John C. Koechel: They usually are, I’ll say, more complex. Sometimes, the commercial ones are easier than the residential transactions just because everyone’s expecting for there to be issues, whereas on a residential transaction, it seems that people are more surprised by problems that pop up and people, as anyone could relate to, get a lot more emotionally attached to a residence than they would with something to do with, you know, an office building. You take some pride in your home and people's emotions run high.
I’ve worked on some residential transactions that were far more difficult than much larger commercial deals just because of the personalities involved, not necessarily the process, which generally should be the same with residential transactions and commercial transactions.