I've recently tried to inquire about 3 different multiunit properties in the past month. Each time, I find it extremely difficult to get a response from the agent. Is there something I'm missing? I am new to the multifamily market. Does anyone else have this problem? I have the capital to purchase, so not sure why I can't get a response. Thanks!
It's important to understand their perspective. They get a lot of calls. A lot. Most of the calls they get are tire kickers, inexperienced investors who do not understand the market and aren't able to close. Brokers' priority is to find buyers who can reliably close and spend their time and energy closing deals. They are constantly looking to qualify (or disqualify) people who call them and sniff out the folks who can't close.
Generally speaking it's best to build relationships with commercial brokers over time and always be ready to demonstrate your competence and ability to close. If you think back to the messages you left them, how did those messages sound? If you're truly interested in the properties, why not call them back?
That's actually really helpful, thank you.. Interestingly, I just heard back from 1 of the agents after i posted this. Thanks for you response!
@Thomas Lowe they get a lot of calls from non serious buyers all the time so I would recommend including proof of funds each time your reach out if you don’t have an established relationship yet.
At least that way they know you are capable of buying what you’re inquiring about
Curious what type of multi-family you´re trying to purchase? I know on bigger deals brokers often prioritise getting back to people they´ve built a connection with
@Thomas Lowe - Everyone is slammed unfortunately. I'd recommend going straight to the listing agent. You should be able to get their attention
@Thomas Lowe Find a way to be seen. Whether that be changing your pitch or demonstrating your value through prequals, intro letters, past experience, business plans, etc. Perhaps do some discovery on the listing agent and find a common ground. Be persistent. Also read "Never Split the Difference" by Chris Voss.
Great book on communicating effectively.
Thanks everyone for the advice . Much appreciated!