Broker questions...Which ones to answer?

[Michael Upshur]

I am a newbie to multi family purchasing but have some experience in Brownstone conversions to SROs.

Wanted to know what questions form brokers should or should I not be answering?

Ex:

Can you tell me a little bit about yourself?

What is my company?

do I own other apartment buildings or other types of real estate?

What is my price range?

Should these be answered upfront or should I be countering with questions of my own?

All the best,

Michael

[Chad Miles]

@Michael Upshur based on my research and experience you should absolutely answer these questions. Brokers will get many calls from people saying they want to purchase properties, but many people will not have any answers to questions about what asset class they are looking for, price range, location or other investment criteria. Brokers want to separate people who know what they are looking for (and thus more likely to close a deal) and those that may be wasting their time. If you do not have experience, your professionalism and your thought out answers to their questions will help to prove that you are serious and they will be more likely to work with you.