How to woo a commercial real estate broker
Despite talk of a market slowdown, there’s clearly still many more buyers of investment property than sellers out there — at least for commercial property.
I get at 5 to 10 calls a week from investors looking to buy.
When I find the “deal of the lifetime,” who do I call?
Obviously someone who has cultivated a relationship with me.
Also, someone who has clearly stated their investment criteria to me.
Investor who call and say, “I’ll look at anything that makes sense” or “show me everything you’ve got” don’t rise to the forefront of my mind when I’m quietly marketing an exciting investment opportunity.
The investor who spells out this criteria garners instant credibility and more attention for me. What do I mean? Tell me :
-the product type/s that interest you (e.g. office, industrial, retail, multifamily, flex, self storage, residential land)
-tolerance for risk and vacancy
-yield expectations
-minimum and maximum deal size
-what you own or have owned
Do your self a favor and think this through. You’ll see more deals from brokers and buy more buildings.
Tags: Commercial Real Estate, deals