Brad Neihouser | Commercial Broker

Getting a Building Leased Up Quickly Required a bit of Luck and Lots of Hard Work.  From Matthew Skiles   The Challenge Brad and I met in 2019 at a network meeting. During this market meeting, Brad asked for referrals for disgruntled building owners, and I was one of those. I had space for lease, and nothing seemed to be happening. So, I engaged Brad to lease 5700 square feet office area space. One week later, he brought me a good tenant that lasted 3 years. Also, during those 3 years he leased the remaining part of the building after I moved out of my personal space. Fast forward three years, the first tenant Brad put into my building moved out. I decided to return to Brad to list this property again, but this time, he acquired an even better deal in three weeks’ time. The Action Brad put together an intense marketing campaign to ensure that all prospects would see the space was available. A tenant’s representative, in Dallas, Texas, saw the posting online about thi...

  Compassion is a helpful quality in many professions; however, when you think about commercial real estate, compassion may not come to mind.  Let me tell you a story. I was recently asked to visit with a potential seller to discuss a property they were considering putting on the market. Prior to our meeting, I had been briefed on the situation, did some preliminary research, and felt confident I would get the listing and make the sale. When I arrived, the prospect had a different idea. She had just lost her husband, who, according to her, was the face of the business. The conversation centered mostly around the man her husband was, what he meant to her, how much she missed him, and everything he had poured into their business. This woman was looking for a friendly ear, so I listened. How could I not? Towards the end of our visit, we did transition to why I was there and got down to the business of it all. I left with the hope that I was able to provide her with good, ...

  As the days start to shorten and evenings begin to get cooler, we can feel that fall is just around the corner. This new season means the start of many things; school, sports, a change in color, but you might not know that fall also marks the start of Farmland Selling Season. From around Labor Day to April 1 st is when the most farmland acreage changes hands, approximately a seven month stretch. While there are any number of reasons that farmland might be brought to market, this type of transaction is typically spurred by a difficult or challenging season for the owner; such as the passing of a family member or end of a marriage. Such painful events can be tough to navigate already, but throw in the sale of long-held family property, charged emotions, and family dynamics, and it can feel nearly impossible. Guiding a family through the listing process, especially one surrounded by a tragedy, takes a gentle hand, listening ear, and trusted professionalism. I have assisted many...

  OFF MARKET DEALS Most astute, seasoned buyers/investors are always looking for an off-market deal. From time to time brokers will advertise the sale of a property that, after some research, I learn never hit the market at all. All asset classes, from single-family homes, large apartment buildings, industrial warehouses or vacant land, seem to be pretty routinely bought and sold off the marketplace. Like anything else, Off Market Deals have their pros and cons, but who really benefits from selling or purchasing a property that never went up publicly for sale. The real estate broker, for one, certainly stands a fair amount to gain from this type of transaction. Off-market property exchanges involving a broker typically occur when that broker has a buyer already lined up to purchase the subject property/site. Without expending much effort, the broker has a nice & easy pay day. Or consider the buying side. If a property never goes to market, then the real value isn’t alwa...

Prospecting: The Thoughtful Way In any kind of sales, especially commercial real estate, you will most likely need to do some kind of prospecting for new clients. An old mentor of mine once said that new business doesn’t just walk in the door all the time, and wow, is that true. When you think of prospecting, the first thing to come to mind is probably the dreaded “cold call”. Everyone knows what I’m talking about, whether you’ve received them or done them yourself. The pitch for the latest service, investment, or product always seems to be the same and generally ends the same as well, without commitment. Instead of blind, cold prospecting, what about taking the time to research potential clients, obtain a base level understanding of their property, and make a “warm call”? What would that look like? Try sending an introductory letter or other mailed version of outreach. Perhaps include a photo or map of their property, including comparable sales, other current listings, and/o...

  The Challenging Client More than likely, all real estate professionals have experienced a client who is, to say the least, a challenge. This kind of client can be difficult to communicate with, holds unrealistic expectations, might be a little needy, and ultimately requires a higher level of tactfulness and patience to establish a positive working relationship with. But how do you get there? How do you learn what makes this person tick in order to not only get the listing, but also reach a successful closing for both them and yourself?   First, set expectations on the front end. Never promise a client more than you can deliver, and deliver easily. If you as a broker set lofty expectations, the client will not forget that, you’ve set the standard in their mind for what they can get for their property. Then in the end, if those expectations were not realistic, the odds of that client growing sour towards you are high. It’s best to set modest expectations from the outse...

  Determining the Value of Farmland This is kind of an abstract question to which there seems to be no solid answer. More often than not farmland is bought and sold with no rhyme or reason behind the final sales price. One farm might sell for much too high while another might seem far underpriced. However, in my experience, if you take the time to dig a little deeper into the land quality, location, and neighboring properties, the answer will present itself. First and foremost is quality. What is the soil like? Does the land drain well? These are probably the two biggest factors in value for a buyer in regards to the land itself. If a agricultural property contains poor soil and holds water, a buyer would likely step away. The other variable is location. Now, for farmland, a property doesn’t have to be conveniently located or be highly visible to passersby. In this case, we’re talking about neighboring owners. This kind of property usually changes hands once in a lifetime and...