What makes commercial real estate brokers so busy? Why do some do so well and others just kind of get by? In today's commercial real estate market, what role do the commercial brokers play? Are they just the listing agent or the buyer's agent? Do they not market for commercial properties?
While it is true a commercial real estate broker is one who has the client with the property that needs to get sold, how did they get that client? They have personal and business contacts and bird dogs that do the looking for their next client. They also advertise their business and all the things that make them different then the next broker. Some brokers work hard at networking and building a client base and other do not, making it clear that some make more money then other brokers.
In today's commercial real estate market, what role do the commercial brokers play? Commercial brokers do provide a great service and get paid very well for their expertise. They work with buyers and sellers of commercial properties and close the deal.
Do they not market for commercial properties, seller and buyers? Whether it be by full page ads or word of mouth, is it marketing (aka scouting for prospects)?
How do they find a buyer for the property? Broker's can advertise locally in the paper, nationally in real estate magazines and on the world wide web on places like Loopnet and other commercial property web sites depending on the property. They can go through their customer list and see if there is a match. They can contact fellow brokers and pitch the property to them. At the end of the day, they are scouting.
So I see a new niche in the commercial real estate world. Professional Commercial Real Estate Property Scouts.
There is one forward thinking groups that has established an association for commercial property scouts. It is called the National Association of Commercial Real Estate Property Scouts, NACREPS.
NACREPS is a true association that provides training on how to scout, what to look for in a commercial property. They provide the guidelines for the scout to look for and evaluate each property. They provide a place to get coached on the finer points of analyzing a property.
They also have investors that will take the deals that meet the criteria for the various types of properties.
If you are interested in finding out more about the Association, go to http://www.nacreps.org
Professional Commercial Property Scout
Ted Stevens
1 comment:
Ted,
Having a commercial real estate broker in your pocket can be very beneficial to a professional property scout. Once you build that relationship, they will call you with properties before they list them. In other words, you get first chance.
Some of the best deals don't even hit the market.
NACREPS.org is a very good site for thoese interested in learning how to scout for properties.
Post a Comment