How do you spot Tire Kickers in Commercial Real Estate?
Let everyone know what to watch out for.
[{"id": "htehcbh", "text": "In my experience if the very first question they ask is \u201chow much?\u201d They\u2019re probably a tire kicker. Most qualified prospects will have multiple questions and are typically focused on more than just the price alone.", "replies": [{"id": "htejryr", "text": "Yea, I find that they all want to see the property without even asking the right questions.", "replies": [{"id": "htekm1d", "text": "Yes. \nAlso; Why is he selling? For money. \nI kinda give buyers a hard time. Ask them a lot of questions to figure out if they are real or not.", "replies": [{"id": "hteox40", "text": "Also folks who just toss shit out like \"1 mil seems high, you think theyd take 800k\" on initial calls.  Like well are you offering 800 on a property you have never seen or spent more than 5 minutes on?  I mean if so I'll write that up lol.\n\n\"No no just curious \"", "replies": [], "depth": 4}], "depth": 3}, {"id": "htenwyz", "text": "Thats my #1 one.  If you call and all you ask is when you can see it 9/10 times I feel like I can ask you 4 or 5 questions and its clear to everyone it wont work.\n\nWhich is funny because if you call and are asking about parking ratios and ti in pretty much just trying to get you to agree to meet me in person the entire call lol", "replies": [{"id": "htgvcqj", "text": "Cash, financing? If financing, who\u2019s your lender...", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hterp8s", "text": "Disagree. When you have a multiple deals to look through, if the deal is over priced i know to move on. If you don\u2019t have a whisper price or at least a range, that says something. Especially if it\u2019s on the market, i don\u2019t want to put in all the work and have to go up against 20 groups in the first round for nothing.  There will be more questions obviously, but at least having an idea of pricing makes sure I\u2019m not wasting my time or the sellers.", "replies": [{"id": "hto2dql", "text": "If I'm going to get 20 offers on a well marketed property what makes you special here to where I should disclose where wed transact?  \n\nI'll probably get downvoted but I hate buyers like that.  Doubly when you submit and get mad because 5 people were higher and you tell me they paid too much.", "replies": [], "depth": 3}], "depth": 2}, {"id": "htgx3yg", "text": "literally the first thing i ask.", "replies": [{"id": "htgxbat", "text": "Are you a tire kicker?", "replies": [{"id": "htgyazr", "text": "nope just helps sift through all the bs whenever you\u2019re looking at a high volume of deals", "replies": [{"id": "hth0365", "text": "Yeah, that\u2019s fair. Although I\u2019d consider that tire kicking to some extent.", "replies": [{"id": "htoic75", "text": "It\u2019s not tire kicking. \n\nOur job is to relay the asking price to our clients?\n\nI\u2019m not trying to be your buddy\u2026 I\u2019m trying to see if we\u2019re in the realm of realisticness", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hten3t4", "text": "They lack POF, do not have an understanding of the basics.", "replies": [{"id": "htf9tkm", "text": "POF in commercial? GTFO. This isn\u2019t selling tract homes.", "replies": [{"id": "htg9cvm", "text": "I've been asked for it. I was dealing with a small town broker. They were selling a softball park in the middle of farm fields. I grew up near there and had some ideas to run it as a going concern.\n\nThey didn't ask me for an NDA for financials, but wanted POF.", "replies": [], "depth": 3}], "depth": 2}, {"id": "htgorma", "text": "Yeah go tell that to any major major company. Want proof of funds from McDonalds or Starbucks? Good fucking luck with that. If they call, you answer and out the deal together.", "replies": [{"id": "hth1qz1", "text": "when I was fairly new someone called me about an industrial lease listing I had that didn't work (they had some very specific requirements) and I of course offered to help find something else.  Which I did.\n\nThe property owner requested we send financial statements for the corp guarantee, which i sent to my client, which he sent to in house legal who basically was monitoring and signing off on the deal.\n\nGuy replied all and sent a link to their SEC filings as they were a subsidiary of a fortune 50 company.  I still laugh at that", "replies": [], "depth": 3}, {"id": "hthoj04", "text": "I don't mean any major company, obviously.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hteoi3r", "text": "Anyone that brings other deals into the convo or starts off telling me they dont have an agent so I can get double.  \n\nLike yea lady im going to screw my client and get you a deal on that 1500sf space you are looking at because you also want to buy a few mil of shit but apparently you have no one to help on that but me you've known for 25 seconds", "replies": [{"id": "htf07fk", "text": "I know that lady too!", "replies": [], "depth": 2}], "depth": 1}, {"id": "htev0m4", "text": "How about the ones who have 5 side hustles and \u2018investors\u2019 to go in on the property with them\u2026.", "replies": [{"id": "hth0szi", "text": "\u201cI\u2019ve got an overseas client with an ocean of money, price isn\u2019t a concern\u201d as the broker says with a dog barking in the background.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htew205", "text": "At least on the industrial leasing side if they try to negotiate on the spot, sure tell sign they have no experience &amp; no intention of moving forward.", "replies": [{"id": "hthvfdm", "text": "Thank you for that.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htexqs0", "text": "DD payment or earnest money and closing window tells the whole story.", "replies": [{"id": "htoi3m0", "text": "What?\n\nMy client(s) all have similar timing. \n\nMinimum of 90 days DD \n+ 180 day approval period with 2 (30) day extensions.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htgqmsi", "text": "Do they have a lawyer? Please have yours contact mine to move forward. If they can\u2019t pay for one or have one they have no money. Next", "replies": [], "depth": 1}, {"id": "htgyfu5", "text": "Anyone with a picture on their business card or who uses \"1031\" as a verb", "replies": [], "depth": 1}, {"id": "hti4t6y", "text": "99.9% of all \u201cbuyers\u201d are tire kickers\u2026", "replies": [{"id": "huos7lf", "text": "So true.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htlb2yf", "text": "Buyers are liars.", "replies": [], "depth": 1}, {"id": "hto5lxv", "text": "What type of email address are they contacting you from? Free email address or is it a real estate investment company website/domain that their email address is at? Quasi non-related business email addresses are better, but the best is an email address at a real estate investment website.", "replies": [{"id": "htoin03", "text": "I use my gmail account so that landlord\u2019s / sellers don\u2019t google me and find out who my clients are. When they do find out, the price typically increases.", "replies": [], "depth": 2}], "depth": 1}]