First Contact with a Broker: How are you framing it?

November 11, 2024

by a searcher in Minneapolis, MN, USA

When you find a listing you're interested in, how are you expressing interest? There seems to be more information out there about how to read a CIM, or evaluate cashflow than there is about how to make first contact with a broker. To be honest, I've been winging it and trying things from explaining my background and objectives to just asking for financials. So far there doesn't seem to be much difference in the responses I get (almost always helpful with an attached NDA or request for proof of funds).

My question to both searchers and brokers is, what have you appreciated or seen work well in a first contact message when reaching out on a new listing?

Reply by a professional
from Concordia University in New York, NY, USA

Thanks for the shoutout ^redacted‌. Brokers want to know that you are a serious buyer and not simply kicking tires. Keeping supporting document on hand in case the broker wants further information is always useful - PFS, investor / lender support letters, a deck that showcases your background, CV and proof of funds, That being said, most brokers will not require this information to provide you access with the CIM and / or data room.

Reply by a professional
from Bentley College in Miami, FL, USA

Here are a few articles that may be helpful:
-- https://www.duedilio.com/mastering-the-transition-from-first-call-to-loi/
-- https://www.duedilio.com/early-red-flags-when-dealing-with-business-sellers/

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