Key Points For Property Scouts Looking To Build Relationships With Commercial Real Estate Brokers

I’ve been in the real estate game a long time and one of the things I think is most important to a successful career in this business (or any other) is the relationships you will build within the community of real estate professionals. So, as property scouts looking to build relationships with commercial real estate brokers, you will want to concentrate on cultivating strong professional bonds with those in this field. In general, the more people you know in your field who are really good at what they do, the more successful you will become.

In order to be a successful property scout, one of the most important relationships you will develop is with commercial real estate brokers. You should have way more then one commercial broker with whom you have a good working relationship. The more people you know in the industry, the more you cultivate these relationships, the more successful you will become.

When I was first starting out, I was a little shy. I hate to admit that, but, I realized building rapport was not my strongest suit. However, I really wanted to be successful in real estate and I soon got the picture that this is a people business and while it would take effort on my part I realized I had to cultivate relationships. Yes, you can do a lot of stuff on the internet right now, but when push comes to shove, it’s all about people. So, as property scouts looking to build relationships with commercial real estate brokers, you have got to get in the game and meet people who specialize in this field. They are not hard to find. Every time you drive around town, you are probably passing commercial real estate that is for sale. If there is a sing in front of a building for sale it will probably have the name and phone number of the broker right on it! So, you see, they are really only a phone call away! And, all its takes is practice to get good at anything.

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Say you are driving past a commercial property up for sale and there is a sign in front with the contact info for the broker right on it. But, say you don’t have any investors on your list who want that particular type of property. Well… what do you thing the chances are of that broker having other property listings? Maybe they have a listing that your investor is looking for! And even if they don’t, by making that phone call, you will get on their list. Let them know what you are looking for. If they come across it they will call you first! How great would that be? As property scouts looking to build relationships with commercial real estate brokers, there is no greater satisfaction than actually making those connections and having them call you with the exact property you have been looking for.

Each broker usually has a specific area of commercial property in which they specialize. For instance, one may only deal with apartments and know the costs of operation including management, repairs and landscape. One may deal only in industrial space and very familiar with the industrial space with offices or just a plain industrial space for manufacturing, warehousing or storage. Another can be a generalist and deal with all types of properties. They may bring in other specialists when dealing with a particular property. So, as a property scout looking to build relationships with commercial real estate brokers, you will want to be sensitive to what the expertise and specific interest is for each broker.


Sellers/Owners are like the rest of us in that they develop relationships with their brokers, so part of our job as property scouts looking to build relationships with commercial real estate brokers is to develop relationships with brokers to the point that they will trust us and know we are not time wasters.

Your first contact with a broker will usually start with a phone call or email regarding a specific property that is for sale. If you are new to the being a property scout or even if you are a seasoned scout, your first contact will set the tone for the ongoing relationship. You want to let them know you are working for a principal, not another broker (unless you are), and you are calling on behalf of an investor group looking for a specific type of property. You have to be specific in your search, not scattered in approach. Say: “I am calling on the property at 123 ABC Street and would like more information on the property. I have a private group of investors that are looking to acquire a commercial property of this type in your area”. As property scouts looking to build relationships with commercial real estate brokers, it is our job to build rapport with the broker and make them understand what our function is. You never want to present yourself as an investor unless you are one. Integrity is key to your success. It’s ok to let them know you are a scout and are gathering information for your investors.

You can make general inquiries about the broker and his agency. How long has he been a broker? How long has the company been in business? What area of commercial property do you specialize in? What areas of the city, county or state do you cover? Some brokers will shy away from the not so good areas of a city. Others will work those areas, if they think the area is coming back or if the pricing is attractive. Once again as property scouts looking to build relationships with commercial real estate brokers, it is really important to get to know them and what areas they work in. The more you know about the broker, the easier it will be to do business with them. And, the more business you do with them, the more they will bring you their properties. Wouldn’t it be great to have your phone ringing with brokers calling you with great deals?

Gather as much information as possible on the property. Ask them to email you any additional documentation on the property. You will need to be able to make an informed decision. Is this property worth pursuing or is it a no deal?

If the property pencils out to be a good deal, you can now ease into some personal questions about the broker. Are they into sports? For example, did you see the game on Sunday? Where did you go on vacation? What did you do on vacation? Are they married? Have kids? Everyone likes someone who is genuinely interested in them. So, as property scouts looking to build relationships with commercial real estate brokers, it’s all about building rapport. And, in order to build rapport that works for you, you have to be genuinely interested in people. You can’t fake it here.

Click Here to Download a Free Training Manual Which Shows You How To Build Relationships With Commercial Real Estate Brokers in the Next 30 Days

The big thing that will build your relationship is to do a deal and have the deal go as smoothly as possible. Once someone makes money because they know you and the deal came together, they will never forget and will think of you first for the next deal that meets your criteria. Stay in touch with the broker, escrow officer and your investor group. These relationships will be very important to your success.

So remember, creating a good working relationship with your broker is very, very important. Keep on scouting and have fun!