Tips for building business relationships with Commercial Real Estate Brokers
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[{"id": "fy2n6yo", "text": "Join uli or naiop. You will probably work with mostly junior brokers. Letting them think that it is a two way street is important. When these small tenants are ready for real office space, I can refer them to you.", "replies": [{"id": "fy2owj7", "text": "Wow! This is exactly the type of tips I'm looking for. Truely appreciate you taking the time to respond. \n\nAre there any key words or phrases that get your attention?", "replies": [], "depth": 2}, {"id": "fy2utr2", "text": "\"letting them think\" and not honouring your word is a pretty good way to ruin your reputation. Reputation is everything in CRE. If you truly want to build relationships instead of tricking people into one-time deals that will destroy you, you should look for rising talent specialising in office, call them, explain how you work and what you expect, attend functions, and keep in touch once a month so people will remember you.\nBrokers are always willing to talk and meet people who can lead to deals. Just be careful to select the best.", "replies": [{"id": "fy2xrwf", "text": "Could not agree more. Don't \"let people think\" anything. Be determined to find a way to help them solve their problems. As a quick advice, that's not always about getting them to put their clients into your space. Genuinely, sincerely, help them do what they're trying to. With that, you will be remembered and highly regarded. More times than not, when they have a co-working requirement you'll be their first call. As another tip, referrals to Co-working sites may not keep the family fed or the water bills paid. If you can develop your personal brand, and if you can think outside the box on how you can provide value, it will go a LONG ways. For that matter, you might end up being one of them. I can't help but keep typing- the ideas continue to come. If you're prospecting businesses for co-working and find one that it simply doesn't work for, refer them to one of your trusted broker friends (that's the sort of thing I'm referencing)", "replies": [], "depth": 3}, {"id": "fy33qmy", "text": "Appreciate the advice! Very helpful. To be clear if I ever got a lead from a broker I would jump at the chance to return the favor if I could send a lead his way. \n\nAt this point I'm looking to build a network rather than trying to squeeze a quick deal.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fy2p75i", "text": "Wework offices here are mostly closed.\n\nUnless you want to provide leads free. They do want coop(paid) with non-realtors.\n\nTry Biggerlots.com", "replies": [{"id": "fy2q3md", "text": "We are not a WeWork. We have a more traditional office setup and cater to professionals (no beer keg or ping pong table)\n\nWe pay brokers for any leads that close within 24 hours of closing. We pay well considering all the broker has to do is provide the clients contact info.\n\nI want to create a relationship where brokers think of me when they have a lead that would be a good fit for co-working", "replies": [], "depth": 2}], "depth": 1}, {"id": "fy2pp3a", "text": "uli all the way", "replies": [{"id": "fy33169", "text": "Several other people have recommended ULI and I would like to make a case to help justify the membership cost to my higher ups. \n\nWhat benefit do you derive from membership? Meetings/Networking events with others in the industry? Is there anything else I may not know about?", "replies": [{"id": "fy3chrb", "text": "ULI is an amazing organization.  If I had to choose ULI or NAIOP, for your place I'd suggest ULI is little lighter on the broker side.  Just my experience, probably varies by market.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fy2x667", "text": "NAIOP and or ULI are no-brainers.  If you're under 35 both have sub committees for \"Developing Leaders\" in NAIOP's case.  Get involved, go to happy hours, establish a reputation.  Ive been in various roles as a broker/developer/asset manager for 22 years and Ive never made a penny from a short term referral, either on the front end or representing a tenant once they needed permanent space.  Others like me will be skeptical, you have an uphill battle, as most of us have heard the pitches before.  Not trying to shit on your parade, I appreciate the initiative....just a tough niche in which to make a lot of money, IMHO.", "replies": [{"id": "fy32q0v", "text": "Wow you've been around the block. I would love to pick your brain!\n\n\"I've never made a penny from a short term referral\" - Is that because the people you refer don't find that particular co-working office to be a good fit or why do you think that is?\n\nWhat is the general sentiment among brokers on co-worker/executive suite offices? Not the WeWork concept but closer to something like Regus with private offices. \n\nHow often do you even deal with client or run into leads that would be suited for  co-worker/executive suite offices? Again not a WeWork but private offices on a shared floor with community amenities\n\nWhat do you find makes prospects shy away from the affordability and flexibility of shared space other than sharing amenities and not having your name at the entrance?\n\nI appreciate the tips on ULI and NAIOP", "replies": [{"id": "fy3coc3", "text": "Let me think about this a bit and get back to you later.  Family time for now but wanted to acknowledge your questions, which are good.  Hang tight.", "replies": [{"id": "fy52tc9", "text": "I understand. I truly appreciate your time and attention.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fy310oh", "text": "Host a broker happy hour at your Coworking spot and provide alcohol", "replies": [], "depth": 1}, {"id": "fy33bku", "text": "in my city it\u2019s been the richest networking opportunity. there you\u2019ll meet engineers, architects, brokers, and also developers. in other words, you\u2019d be able to network with all the types of people you are looking to, and a lot will stem from them. also, there are free events so look for those. here there are free breakfasts and mixers as they try to get more members.", "replies": [], "depth": 1}]