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How to Win the Acquisitions Game - Boston Commercial Real Estate

An investor called the other day and complained, "I've talked to a bunch of brokers, but can't find the deal I want. Can you send me a list of what you have for sale?" We sent our list and asked the investor what he wanted. He said, "You know, a good deal. Something that makes sense. All I'm seeing out there are opportunities that are either overpriced or gone before I had a shot at them." If you're an investor, here's some bad news. Investors call our office, make the same requests, get a list of what's on the market and complain about the unavailability of deals. We offer to talk through the requirement, but most say they're happy calling brokers because they'll get access to more deals that way. Maybe, but aren't you just looking for off-market deals in on-market locations? Remember, sellers hire brokers to represent them in the sale of their property. They want the advantage of exposure to the largest audience and to sell their property for more than they could on their own, which means when you're calling brokers, you're talking to the people that owners want you to. Out of our own interest as an owner advisory firm, please keep calling brokers. We encourage it and we like the calls. It makes our owners happy because it proves that we're giving them great exposure and will eventually sell their property for the best price. There are some investors, however, who refuse to limit themselves to the brokerage world.  For those who choose to go off-market, we won't lie to you. It's hard work and it costs money, time, and energy. One client came to us and required an industrial building in the greater Boston 93/128 interchange market.  Out of 50 potential properties in existence, we sourced 6 sites that could be purchased, and the client selected 3 to seriously consider.  Of the original 6, 20% were listed for sale by the owner or with a broker, while the rest of the properties were off-market. For those who want more, we turn down most that ask us to source off market deals either because we're representing a conflicting search or our program requires too large a commitment; however, if you want to see if you qualify, call us at 617-674-2043 to tell us what you want.  If it isn't a fit, we'll let you know right away.  If it is, you can invite us for further discussions.  We'll tell you how we've brought options to our clients that they didn't know they had, allowing them to make investment decisions that achieved their objectives as well as increase the size of their portfolios. Get free weekly email updates of this blog. About the Author: Jeremy Cyrier, CCIM is the founder/principal of MANSARD Commercial Properties and member of the CCIM Institute faculty. He delivers thoughtful, large scale commercial real estate solutions to the individual challenges owners and tenants face. Jeremy Cyrier, CCIM was elected by Banker & Tradesman as one of its New Leaders in 2009. You may reach Jeremy at Jeremy@Mansardcre.com. Get free updates sent straight to your email box by filling in your name and email below.

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