Buyers may be frustrated because no solid apartment broker is paying attention to you. To get out of this situation, know that this is a high-demand, low-supply business. This means that there are many more buyers out there than there are buildings for sale. If you want to be in a priority position with the brokerage community, be sure to have the following: – Your down payment established or provable. – A record of your history in the apartment industry (if any) – A demonstrated understanding of the apartment business or the willingness to learn it. – A willingness to pay a retainer fee: this shows that you are serious about your search. There may be far more buyers than sellers but 100% of the market doesn’t want to buy 100% of the apartments for sale. There will be a building out there that meets your wants and needs criteria. But with the shortage of supply, it is important to go with a broker that knows where the deals are, or how to get them.
