How do I find a good broker?

The other day I sent out some emails to brokers that specialize in MHP sales and I got all the names from mobilehomeparkstore.com. I gave very specific criteria for what I was looking for and almost every single one just responded something like this ‘thank you for reaching out, please see the link below for our listings’.

This seems pretty lazy to me and kind of left a bad taste in my mouth for working with a broker to find my acquisition. One guy even responded that “it’s not my job to educate people, no offense.” I can’t imagine something coming to me and saying that they want to do business and then just sending them on their way.

Anyways, is this pretty common? If so, does anyone have a recommendation for a couple of good brokers?

Thank you.

Domonic,

I don’t have a recommendation for a broker, but here is some info that may help.


This email response is typical of many in the real estate business. Here’s why I say that.

Now is a very good time to be a MHP broker. Bank financing is available at low rates and properties are trading in some markets at low cap rates. That makes for relatively high sale prices. And great commissions.

They are ‘in-phase’ with the current easy market. Many don’t have the experience of years past when times were not so good. Many don’t own MHP’s themselves. They are salespeople, not adding value to the transaction.

When times get tougher and they are ‘out-of-phase’, they will wonder why their former ‘loyal’ customers don’t come running back to them.

This ‘in-phase’ and ‘out-of-phase’ runs with buyers, sellers and brokers. No one group is immune to it.

If they have a history of adding value to transactions, they may be so busy they don’t have time for new clients. Its all they can do to support their existing client base.

They are in the minority.

Its a good time to be a MHP broker. But finding a good one who will take on a new client requires kissing a lot of frogs.

Keep us posted,

Mike

2 Likes

@mhmike

Thank you for the insight. I’ll think of a better way to approach the situation to get what I need. There’s more than one way to skin a cat.

Dominic, the best way to get what you want from someone else is to put yourself in their shoes and try your best to see things from their point of view, as well as your own. This is a very small business, with only a handful of serious brokers and many “buyers” who ultimately will never make their first acquisition. Brokers only make money when buyers perform. Take time to build rapport and credibility. Thank the brokers for sending their listings, then give feedback and ask follow up questions. Stay in touch and check in periodically, and eventually the broker might trust you enough to send you stuff that’s not on loopnet or MHPS. If you see something you like, write an offer that makes sense for you. Then follow through and close the deal. Just my $.02–best of luck on your search.

3 Likes

I’ve had pretty good luck with Max Baker over at https://www.themhpbroker.com.
He may not have specifically what you’re looking for, but he’s pretty good about staying in contact in case something pops up.

1 Like

@BrianL

Thank you for the advice. I guess I’m kind of in the same boat that they are in that I don’t want to spend time on something that probably won’t mean much. But it can’t hurt to call every once in a while and stay in touch with them.

I’m really big on Joanne Stevens out of Iowa joannemstevens.com I have found her to be one of the best.

2 Likes

Geographically where are you looking?

I am looking primarily in the Southeast.