Building Strategic Relationships with Brokers in Real Estate

Engaging brokers effectively is crucial in establishing strategic relationships that yield good deals. Initiating contact with brokers even when starting fresh is vital; expressing willingness to receive any deal shows commitment. The strategy involves underwriting the initial deals sent, providing detailed feedback on why they may not work, and in return, requesting better deals. This iterative process not only demonstrates persistence but also builds credibility with brokers, who often dispose of individuals who abandon the search for deals too soon. Over time, brokers come to trust that the engaged buyer will take the time to evaluate deals thoroughly, which leads to increased access to quality opportunities. It’s a long-term investment of effort, but in six months to a few years, it can result in a stream of exclusive deals that competitors may not have access to. Consistent engagement and relationship-building with brokers is key to thriving in the real estate market.