Giving Incentives to Commercial Agents to find deals?

[Kyle Curtin]

Hi everyone!,

I have a quick question that I would love to get some folk’s thoughts on. So I recently acquired my first 3 unit househack and decided my next vision after stabilizing this property for the short-medium future is to jump into the small commercial multi space (6-8 units) with a few equity partners.

I have been absorbing as much as I can through podcasts, books, videos, etc. as well as connecting with as many local commercial lenders as possible to start to build a foundation as early as I can to work towards this vision. After continuing to scour bp for knowledge, I have discovered that some of the ways to find commercial deals are similar to residential (lead gen via mailer campaigns, cold calling etc.), but one of the big ones that I have come across repetitively has been building relationships with commercial brokers/agents. I have been trying to figure out what kind of value I can provide to them to potentially think of me when they come across a property in their travels, aside from offering to them to be our buyer’s agent and retain both sides of the commission, & even though I am an agent in my target state. Does anyone have any tips in particular for giving value to commercial agents?

Thank you,

Kyle

[Colby Fryar]

@kyle @Kyle Curtin that is a great question.  I have found success in telling everyone in my network about the brokers that I am using.  I try to add value any way I can by inviting them to speak at my meetup, introducing them to other investors, even sending them leads about potential off-market opportunities.  They really do like that, especially when they get calls from strong buyers interested in deals.  Also, I have found great value in meeting with them face to face for coffee or lunch.  Keep in mind first and foremost, brokers want to know that you can close the deal.  That is key.  Second you will need to show them that you are not going to be a thorn in their side during the purchase process, which again goes back to can you close the deal.