Maximizing real estate success: The ultimate guide to working with brokers

In the world of real estate, time is money, and wasted time is wasted money. Brokers can help you save time and money when it comes to researching, networking, and closing deals. Keep reading to see everything you need to know about working with brokers in real estate deals.

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Finding a Broker

The best way to find professional, top-tier brokers are referrals. Ask your general contractor, real estate attorney, bank lender, and anyone else in the field for a referral. With their experience working on various developments, they’ll be able to give you reliable advice on a good broker. Networking is another excellent way to identify and get to know brokers and other experts in the field. Building strong connections will get you successful contacts that will help you throughout your investing journey. Lastly, you can find brokers through local listings or internet searches. Check websites like LoopNet, Costar, Facebook groups, and other community forums that will give you trusted advice on who to work with.

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Building a Relationship

Having a trusted, experienced broker can make a world of a difference in the success of your deals. Thats why it is important to establish a strong personal relationship with your broker. Be transparent and generous with your information. Be sure to keep your broker updated in a timely manner with any new information that comes in. Keep in mind, top tier brokers are well seasoned and will do due diligence on the buyer/ investor. Think of it as “you need them more than they need you”. A top tier broker who has a clear understanding of your plans and intentions will be able to provide the best help to you moving forward.

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Your Broker’s POV

Also understand that for your broker to win, you have to successfully close the deal. Otherwise, both parties’ time will go to waste. Avoid being transactional and focus on building a long term relationship with your broker. Establishing a trusted relationship will avoid the problem of finding a new broker for every deal you want to close. Additionally, if a broker believes in the project, they may convert their commission into investment in your deal. Don’t forget that brokers have access to investors and can become a funding source for you.

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Like many parts of real estate development, working with a broker depends on building long lasting relationships. At Flex Space Network, we’ve built a community designed to foster connections between like minded people in the world of industrial real estate. If you’re ready to join, head on over and become part of something great.

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