How do brokers put deals together? What are they looking for in a deal? How do they help their clients find the best deals? Today’s guest, Shmuel Siegel, answers those questions and gives us a closer look at how brokers help in the acquisition process.
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Shmuel also explains how sellers can arrive at a price through the appraisal process. He gives three approaches that can help them know how to underwrite a deal. He then elaborates on how to understand and know if it’s a good deal or not and how to make an offer and negotiate in a way that will show your clients that they can trust you. Tune in for more viewpoints from a broker working with different sellers and buyers!
Key Points From This Episode:
- Shmuel shares his background on how he got into the real estate business and how he shifted from retail to multi-family.
- What’s an off-market deal and why do people look for that kind of deal?
- Why is a marketed deal often misconstrued as an off-market deal?
- Why is it good to work with a broker?
- What is the role of a real estate broker? How do they help buyers and sellers in their transactions or in closing a deal?
- Why is it important to justify a low-ball offer?
- What to be wary of when receiving low-ball offers?
- Shmuel explains the appraisal process – capitalization approach, replacement value, and comparison approach.
- Shmuel shares some ideas on how to make your deal stand out.
- Why do we need a well-drafted PSA?
- How to know if it’s a well-drafted PSA?
- What’s the first step to come up with a well-drafted PSA?
- Shmuel shares how he likes to give back.
“We remember the buyers, we remember the sellers. And when you put those minds together, that gives you a huge opportunity and a huge leverage.” [0:10:44.2]
“Be at your goal. Be who you want to be.” [0:26:23.4]
“If you want to have that break into the game, find that property that’s not a good deal and make it into a good deal.” [0:26:23.4]
Links Mentioned in Today’s Episode:
About Shmuel Siegel
After his service as Captain in the Air Force, Shmuel received his Bachelor’s Degree in Psychology and Business. Currently, Shmuel heads CSN Commercial’s investment sales team and is a Certified Investment Real Estate Acquisition and Due Diligence Specialist. Shmuel closed numerous deals nationwide and is focused on adding maximum value for his clients.
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