To all the people in REPE, what are some stories of Brokers you worked with that did a great job in a transaction for you? outside of sourcing deals and providing market data, what other value would you want them to offer that would help make your job easier?
I always hear about dummy brokers, but would love to hear about the good ones you’ve worked with.
| +33 | Where are free agents signing? | 11 | 1h |
| +31 | Uncertain of what To Do Next | 5 | 4d |
| +29 | Capital Restricted Developer | 3 | 1h |
| +28 | Laughable Job Posting | 7 | 2h |
| +23 | Warning: J. Shaw Recruiters | 5 | 5d |
| +8 | Development Budget: use RENTABLE or GROSS BUILDABLE sf? | 3 | 1d |
| +6 | First-year REPE analyst comp check (London) | 1 | 6d |
| +4 | Vandy MSF or NYU MSRE | 4 | 4d |
| +4 | Shops with largest intern classes | 5 | 4d |
| +4 | In RE, what is the ONE software tool you couldn’t survive without? | 3 | 4h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
In development, but the best brokers run a tight process, have institutional knowledge of who will actually close on the number they offer at and not try to bullshit you down through the transaction or delay endlessly, and act more like transaction advisors than used car salesmen. They are able to effectively express your vision for the project, get decision makers to pick up the phone and put your deal at the top of their stack, and are respected by both sides of the transaction as a result.
Clowns, in contrast, tell on themselves by saying little things that show they don't truly understand real estate, are always trying to sell you on something, leave you with bad options because they don't have the stroke to get enough buyers to pay attention, and cause fire drills by not managing expectations and properly massaging both sides of the transaction.
A lot of us think brokers are complete goobers, and rightfully so, until you find that good absolute stud who goes so above and beyond on your sale process that it takes the project from a double to an inside the park home run. Unsurprisingly, those brokers are doing quite well for themselves. They are salesmen by choice, because it fits their personality and they are damn good at it, not because they couldn't make it anywhere else.
Someone with the "stroke" is the key
Anyone who works at Matthews Real Estate Investment Services
Nice pair of tits or rich dad with connections. One of those two.
An ability to use the search function
Look I’m not a broker, but I understand people well, and I know how to sell. I didn’t read that essay you wrote. Stop thinking and start talking. People think getting people to buy things or become a customer means having some methodic way of securing business, this is completely wrong. It needs to almost happen naturally, “hey man I like your shoes” “thanks dude! I got them at xyz store I really like them because abc.” “I have the same pair man! Love them because of that too! What do you do??” And the rest is history. I’ve met several extremely successful people that I continue to talk to and learn from to this day by doing things like this. You’ll probably fail a lot but all you need is a few winners. Just let it flow man!
This isn’t really helpful advice for the new guys but success breeds success and it helps to stick to a niche. If I’m looking to lease up a 100k+ SF warehouse in the Meadowlands, I’m going to interview the top industrial leasing teams in the Meadowlands. If I’m looking to sell a 9 figure building in NYC, I’m interviewing the top capital markets/investment sales teams in NYC. If I’m looking to sell a $10mm CVS in the Bronx, I might give the outer borough NNN investment sales guy at Marcus & Millichap a shot. From my point of view as an owner, it’s all about choosing the right tool for the job. I want to see that you have sold or leased a lot of deals like the one I intend to go to market with. I don’t want to give a big assignment to a guy who mostly does middle market deals and I don’t want to give a small assignment to a guy who is an absolute rainmaker because it will fall towards the bottom of his to do list.
Also, the less buzz words and cheap sales tricks you try to use on me the better.
I like it when they wear those pencil skirts
Being the first one to tell me info
Qui praesentium eligendi eaque iure eos doloribus. Est libero voluptatum nam ut. Voluptas quae debitis eaque. Enim sit vel qui dolor eos ut. Neque nihil dolore hic non asperiores saepe totam amet. Perspiciatis qui voluptas quam soluta ut quae officiis quo. Ducimus qui quos recusandae sed odit amet et.
Assumenda vero sapiente corporis officia quam ab nulla sint. Culpa incidunt nulla eius labore sed soluta pariatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...