Castro Valley, CA · Member since 2017 · 38 posts · 5 votes
I mean specifically in trying to get commercial selling agents to respond to my initial email (saying I'm interested in a property) or voicemail or message I leave with a secretary. I'm basically interested in buying their property but they don't call back. Any tricks to get their attention? Or maybe these properties are reserved for certain buyers even if they are on the market.
Bakersfield, CA · Member since 2016 · 378 posts · 307 votes
8y
They probably receive calls/emails like yours all day and don't have time to return those calls/emails. If I list my own residential fixer upper, I get TONS of emails from people "interested" in it, so many sometimes that I can never respond to all of them. If any of those emails have an attached offer, then I'm responding asap. The reason? No, I'm not trying to be mean. It's because time is money in the real estate business! I can't talk to 50 people on the phone every day so they can ask me silly questions about the property, only to never end up making an offer anyway. I only have a little bit of extra time each day because of my job, so I'd rather spend a long time on the phone with a person that sends me an offer and proof of funds, because I know they are serious. It's just the reality of the business.
How you get them to respond is you have your agent send an offer with your prequalification letter and proof of funds. Also, have your agent ask any questions about the property, not you personally. They will be much more likely to respond to an agent that has a prequalified buyer.
Castro Valley, CA · Member since 2017 · 38 posts · 5 votes
8y
Not wanting to waste time on phone calls makes a lot of sense @Max Gradowitz. By an attached offer, did you mean giving the broker a ballpark number I'd pay in the email text or attaching a real offer form to the email?
I have noticed that it was hard getting ahold of selling agents regarding SFHs. The brokers I try to contact are apartment and mobile home park communities. I know some people use buying agent, but I don't see them as necessary or really a big value for them for those non-SFMs. I'm not aware of being qualified with commercial either.
Thanks for the info btw. You already helped my perspective.
Bakersfield, CA · Member since 2016 · 378 posts · 307 votes
8y
Yes, an actual offer attached to the email. This is precisely the benefit of having a buyer's agent. Do you have commercial purchase agreements? Do you know how to fill one out? Do you what to include with the offer? This is why you get an agent. I can't imagine how you could want to buy a commercial property without a buyer's agent. I know of residential REALTORS that get their own buyers agent for commercial purchases because the process is different than residential. And they SHOULD, it's free to the buyer anyway.
Also, if you are not prequalified for a commercial loan yet and do not plan to pay cash entirely, then you must get prequalified first. How do you know you are even qualified for a commercial loan at all? A seller is not going to entertain an offer without a prequalification letter or a proof of cash funds - how do they know you will be able to perform at all? "Just trust me" doesn't cut it. Get an agent.