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Updated about 3 years ago on . Most recent reply

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John McKee#5 Commercial Real Estate Investing Contributor
  • Investor
  • Fairfax, VA
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Do buyer Brokers exist?

John McKee#5 Commercial Real Estate Investing Contributor
  • Investor
  • Fairfax, VA
Posted

Searching on loop net and other sources for hours.  Is there a better way to find deals?  My gut tells me that no matter what your asset class your on your own as a buyer. What percentage of your buying opportunities come from brokers vs other means?  

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Joel Owens
  • Real Estate Broker
  • Canton, GA
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Joel Owens
  • Real Estate Broker
  • Canton, GA
ModeratorReplied
Listing brokers have a volume business.

Maybe 15% of properties are the diamond ones. They often get multiple offers whether on, off, pre-market.

The difference maker is the buyers broker. The listing broker does volume but doesn't want unknown buyers or flakes to make them look bad to sellers and take up all of their time. If listing broker knows a good buyers broker that qualifies their clients and is exclusively working with them with a written agreement then they know broker has CONTROL of the client and buyer is focused.

My last 6 closings I won because of my reputation and how I make buyers commit to working with me exclusively. The brokers know I will work to get it to closing so they want to sell the seller on taking my offer over others. They want surety of close and a known commodity in the business. It makes their life easy and makes them look good to the sellers for more listings.

I have had countless listing brokers say they can't stand the buyer side of the business and like the sellers instead. With 18 years in the business I have a process I put buyers through and if they do not conform we are not a fit and they can go somewhere else.  
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