Hi, I'm beginning my search for multifamily properties that are about 12 to 16 units in size that are in the DFW metroplex or within a 3 hour radius from the DFW metroplex. I am looking for B or C class properties and do not mind tertiary markets if needed. I am having a hard time finding a broker that specializes in this smaller size. It seems like they are either focused on super large properties or SF. Can anyone direct me to a agent or company that focuses on this type of property?
I would be interested in this too, I have the same issue with agents that do large multi-family, that may have smaller stuff come up every now and then, but not neccesarily specializing in them.
@Lateefah Washington Major brokerages don't concentrate on such small units. Although, they will market these properties when they come across them but they are usually handled by the junior people in the brokerage.
Best bet would be to contact all the big ones - CBRE, JLL, HFF, M&M, SVN.
@Omar Khan I guess if I contacted multiple agents they would just bring me their own listings or would they look at other brokers websites/listings for me? If they only brought me their listings, they would be representing me as a dual agent? I have read mixed reviews about this and as this would be my first deal in multifamily I thought it would be helpful to have someone who is looking out for me more. It seems like in commercial real estate there are more dual agents than in SF.
@Lateefah Washington The major brokerages will bring you their deals and they are not going to represent you i.e. they have no fiduciary duty towards you. You have to represent yourself.