Every real estate deal has a clock. Sometimes that clock moves fast. Sometimes it slows down because the buyer needs time.

That time might be for a board approval. It might be for a tax-deferred exchange to line up. It might be for a buyer of land who wants to secure entitlements before taking ownership.

When that happens, sellers usually ask the same question.

Why should I wait?

The answer depends on the market.

Strong market: Time is a concession

In a strong market, sellers have options. Buyers are plentiful. Properties move quickly. When a buyer asks for extra time, it feels unnecessary and risky.

That reaction makes sense.

Waiting in a strong market means giving up flexibility. It means passing on other buyers. It means betting that nothing changes while the clock runs.

That is why sellers in strong markets rarely agree to wait unless they are compensated.

That compensation can come in several forms.

A higher price
Money that becomes non refundable
Clear deadlines that limit how long the seller is committed

In a strong market, time has value. If a buyer needs more of it, the seller should be paid for it.

Weak Market: Time can be an advantage

Down markets tell a different story. When activity slows, buyers become cautious. Financing tightens. Fewer offers come in. Sellers often discover that speed is no longer the prize it once was.

In those markets, a buyer willing to work through approvals or conditions can be valuable, not problematic.

Time in a weaker market can mean progress instead of stagnation. It can mean a deal that moves forward while others sit still. It can mean locking in a committed buyer when alternatives are uncertain.

In those situations, waiting may reduce risk rather than increase it.

Not all delays are the same

Regardless of the market, sellers should understand why a buyer needs time.

There is a big difference between a buyer who must complete a specific step and one who is simply unsure.

Approvals with clear timelines are different from open-ended requests. A tax-deferred exchange with a signed sale is different from one that is still theoretical. Entitlements already in process are different from those that have not yet begun.

The clearer the reason and the timeline, the safer the delay.

What sellers should focus on

Whether the market is strong or weak, sellers should focus on three simple questions.

Is the buyer committed?
Is the timeline clear?
Am I being protected while I wait?

If those questions are answered well, waiting can make sense. If they are not, it usually does not.

The bottom line: In strong markets, waiting is a concession and should be treated as one.

In weaker markets, waiting can be a strategy.

The key is understanding the difference and structuring the deal accordingly.

Time is neither good nor bad. It is simply a tool. Used properly, it can close deals. Used carelessly, it can cost them.

Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services in Orange. He can be reached at abuchanan@lee-associates.com or 714.564.7104.

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