Finding Commercial Brokers

[Karma Senge]

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.

[Joel Owens]

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.