Finding Commercial Brokers

8 Replies

What is the best way to find and network with commercial brokers in my area? I am looking for brokers that might be able to send me deals on Apartments, and other commericial r.e.

Hi Karma,

Some commercial brokers transact only in one area and others do nationwide. I transact nationwide for clients.

Brokers and agents use a network of (broker of record) to be license compliant in that state. Some states are reciprocal meaning in my state of GA since I am a principal broker here I can pay a fee there and they will honor my licensing and give me the ability to do business there. A few states can be really difficult as they do not like the other states nor do they have recipriciosity agreements.

In those cases we just do agreements for a broker of record there for buyers and sellers. The broker of record usually gets a nominal fee say a few hundred bucks to 1k on a commercial deal like that.

I would say with commercial to get focused. It's not like residential where all brokers and agents do everything. We are a highly specialized group. I do triple net leasing and retail, and also multifamily larger buildings. Those are the two things I focus on. If you asked me to help with an industrial property I would tell you about one of my friends that does industrial only for the last 20 years.

The evaluation of the properties varies by commercial niche (retail, hotels, office, industrial, etc.) and the lending is different with money down and terms. The specialist properties will have the best networks for lending and access to properties over a generalist.

Hope it helps.

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@Karma Senge - I'd start by speaking to a property management company and getting aligned with one of them. That way when you speak to brokers you can tell them that you're in discussions with XYZ property mgmt companies on partnerships. It will boost your credibility.

Plus, the property mgmt companies might have brokers they recommend.

@Karma Senge

Here's a copy and past from one of my previous posts...Like Joel stated focus on the brokers that specialize in exactly what you are looking for. Definitely network with property managers...they can point you in the direction of many good brokers. Good luck!

Search Loopnet to see what brokers currently have listings on these size properties. Reach out to each of these brokers, have lunch, and regularly connect. Search all the top commercial brokerage firms to see who is listing these type of properties. Hendricks Berkadia is a multi-family only brokerage company and they have an office in Orlando. Check CBRE, Cassidy Turley, Marcus & Millichap, Sperry Van Ness etc etc. I would also search Craigslist to see if anything pops up (it may not). Get a routine set up so you are continually checking on deals on a daily/weekly basis.