Navigating Broker Relationships

[Brock Burton]

Hi BP fam,

I am curious to hear how some of the more experienced multifamily operators have created strong relationships with brokers. I think this is a pretty common obstacle starting out, but with no experience or any real credibility, how do you get a broker to trust and believe in your vision and then send you deals based on your investment criteria? Is it through reaching out on LinkedIn? Is it getting referrals to brokers in your area? Maybe it is contacting a broker about a listing and talking through some of the things you see after underwriting a deal.

Interested to hear any thoughts on this!

-Brock Burton

[Todd Heitner]

Quote from @Brock Burton:

Hi BP fam,

I am curious to hear how some of the more experienced multifamily operators have created strong relationships with brokers. I think this is a pretty common obstacle starting out, but with no experience or any real credibility, how do you get a broker to trust and believe in your vision and then send you deals based on your investment criteria? Is it through reaching out on LinkedIn? Is it getting referrals to brokers in your area? Maybe it is contacting a broker about a listing and talking through some of the things you see after underwriting a deal.

Interested to hear any thoughts on this!

-Brock Burton

 @Brock Burton, the key word you mention there is credibility. That's something we can definitely help you with from the point of view of your online presence if you want to reach out to me.

If you think of it from the brokers point of view they don't make money unless the deal closes. They have to believe that if they invest time with you the deal will definitely close. You have to show them that you are really in the business.