How to find a commercial real estate broker?

Commercial Real Estate Investing
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How to find a commercial real estate broker?

Edita D.
Investor · San Diego, CA · Member since 2012 · 309 posts · 18 votes

Hi!

We are looking into acquiring a 12 or so unit property (so far we have owned 1 to 4 unit buildings ).

Any recommendations how to find a commercial real estate broker?  Loopnet does not seem to have many deals available... We figured a commercial real estate broker will have more properties. 

Thanks!

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John Bryson
Investor · Seattle/Tacoma WA · Member since 2016 · 55 posts · 33 votes
9y

I would first nail down the exact area/s you're looking in.  Once you have that, a google search for "Multifamily real estate in _____ city.  There should be a few names that keep coming up.  Once you get 3 names/numbers, call and speak to them and from there you can choose which broker you connect with most.

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  • Tyler Derickson
    Investor · Fort Wayne, IN · Member since 2017 · 25 posts · 4 votes
    9y

    loopnet is a great resource. Contact the broker on Loopnet asking about other properties they have listed or coming  that fit what your looking for.

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  • John Bryson
    Investor · Seattle/Tacoma WA · Member since 2016 · 55 posts · 33 votes
    9y

    I would first nail down the exact area/s you're looking in.  Once you have that, a google search for "Multifamily real estate in _____ city.  There should be a few names that keep coming up.  Once you get 3 names/numbers, call and speak to them and from there you can choose which broker you connect with most.

    1Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    9y

    First define where you want to buy. 12 units is more of small balance commercial broker. More experienced brokers tend to work on larger deals of a much bigger size. This way the broker can make as much commission in 1 deal as 15 smaller deals. 

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  • Chet Mazur
    Flipper · Cupertino, CA · Member since 2015 · 265 posts · 27 votes
    9y

    There is a site which promises off market lists only.. Is it cool to post? I have no economic interest ion the property.

    I had no broker contact for a assisted living facility.. I call one of the big brokers focusing on ALF... Very happy so far.

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  • Jeff Kehl
    Rental Property Investor · Charlottesville, VA · Member since 2012 · 1k+ posts · 726 votes
    9y

    @Edita D. Couple of things you can try. If it's a bigger city you are looking in you can try the larger national brokers like marcus and millichap or CBRE. Also you can try the local MLS sites most of them will let you specify commercial or multi-family and you can find brokers that way.

    There are also certifications and organizations of commercial brokers like CCIM:

    http://www.findaccim.com/

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  • Edita D.
    OP
    Investor · San Diego, CA · Member since 2012 · 309 posts · 18 votes
    9y

    Thanks everybody for your input!

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  • Kevin Vandenboss
    Real Estate Broker · Lansing, MI · Member since 2015 · 90 posts · 53 votes
    9y
    You're right in that you should work with a commercial broker to find multifamily deals. The good deals are usually snagged up before they even get to market so knowing the brokers that are in on those deals will help you get access to those opportunities. Since Loopnet doesn't show all of the listings unless you pay for premium searching, you should check out some other sites. A good search should provide a couple more options. I recently joined a site called The Broker List, which is basically a network of commercial brokers. You can look on there for agents that specialize in what you're looking for.
    1Reply
  • Jonathan Twombly
    Rental Property Investor · Brooklyn, NY · Member since 2014 · 722 posts · 1k+ votes
    9y

    @Edita D.  I have a free giveaway on my website if you are interested that addresses this topic.  Please PM me if this is of interest to you and I will tell you how to get it. 

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