I had a good call with a broker today about a storage facility. One of my takeaways from the call I thought was worth sharing. *** The broker said their strategy for pricing properties is to price them "as aggressively as possible without discouraging offers." He said his "duty is to the seller unless the buyer is paying his fee." *** Those sentences hit me. It reframed what I should expect from brokers while interacting with them. (that they're not looking out for you) It reframed how I view what brokers expect when they receive offers. (They don't expect your offer to be at or maybe even near the list price because they know their pro forma is best case scenario) In their OM they're setting the bar as high as possible as if the best case scenario will play out. He said he's not looking to sell any property for less than someone is willing to pay for it. They're not looking to sell you something for under market value. I knew this, but hearing it directly from the broker hit me differently. *** Takeaway: They don't expect to get their list price. As a buyer, don't feel badly by offering a realistic price that is substantially lower than the list price based on your underwriting. Also, even though the broker may be a kind human being, as a buyer, the broker is not on your side. Stick to your guns with your numbers.

Hello everyone! My name is Reed Swartley, I am from an hour north of Philidelphia and I am looking for my first self-storage deal. My "Why" is to gain financial freedom to spend more time with my wife and 3 small children. I currently work a W2 as a full-time construction equipment mechanic, but hope to one day own a portfolio of self-storage facilities where I can quit the W2 life. I love everything to do with the storage industry, and love networking with anyone and everyone I can reach, so feel free to shoot me a message. No matter if it's to help analyze a deal, ask to go look at a local property for you, or just chat industry, I am always interested to connect with new people, and bring value to the community. I would love to talk with you and who knows, we could end up working together and helping each other reach our goals💪. Big shout out to @Dave DeMink for spending some good time 1 on 1 with me, and making this amazing community. It's great having people like you to help the up-and-comer out in this competitive landscape. I have attached my buy box for everyone to see. Don't hesitate to reach out!