Do REITS use buyers side agents? Off-Market deal advice

[Bronson Bard]

I have recently been in contact with a broker who is shopping a massive multifamily deal around town (off-market). I also know some guys underwriting at institutional companies who have cash on hand looking to buy multifamily real estate investments. The institutions are hesitant to use buyer side brokers. How can I convince buyers to use me as a buyer side broker / How can I make money on this deal?

[Joseph Cacciapaglia]

When you're doing institutional level deals, it's very rare for a buyer's agent to be involved. I spent some time on the acquisitions side for 2 different public REITs, and we never engaged agents on our behalf. It's just a different model. In my market, buyer's agents are usually involved in multifamily deals of about 50 units or less. Once you get past that point, listing agents don't want to co-op, and buyers of those types of properties don't really need you. 

All that being said, I'd see if the listing agent would be willing to give you a referral fee to make the connection, as long as that's allowed in your state.