In commercial real estate, the “drive-through” broker who simply takes orders and hunts for square footage is becoming obsolete. Today’s broker has to transition from a transactions facilitator to a capital and strategy expert. During eXp Commercial’s February Growth Series session, John LeTourneau, Director of Commercial Operations, pulled back the curtain on the high-level tactics used to identify serious investors, source off-market inventory, and protect a client’s equity.

Here are LeTourneau’s eight essential strategies to master buyer representation.

1. Apply the “Investor Litmus Test”

The fastest way to qualify a client is by their command of financial metrics. A professional investor should always have a clear “buy box.”

• The Strategy: Ask, “What financial metric does your property need to achieve in order for you to purchase it?”
• The Red Flag: If they answer with “I’ll know it when I see it,” they likely lack a professional plan. Serious buyers lead with specific targets for cap rate, cash-on-cash return, or internal rate of return (IRR).

2. Avoid “Drive-Through” Advising

Most brokers act like order-takers, asking only for square footage and location. Focusing on deeper, operational questions that impact a client’s long-term success will prove more value.

• The “Why” Technique: Channel your “inner five-year-old” and constantly ask why a specific requirement exists.
• Operational Depth: Dig into technical needs like power requirements, floor load capacity (concrete depth), or municipal requirements like grease traps that could make or break a deal.

3. Leverage the 80/20 Rule

Success in representation often comes down to tactical empathy. Data shows that in a conversation, the person who speaks 80% of the time leaves feeling more satisfied.

• The Strategy: Let the client lead. Since people like to talk about themselves, your job is to ask the right questions and listen. This builds rapport while providing you with the intelligence needed to win the deal.

4. Source Deals “Behind Closed Doors”

The best commercial opportunities rarely reach public listing sites. Be creative in finding off-market inventory.

• Lateral Movement: Use tools like CoStar to identify owners who closed on similar assets three to five years ago; they are your most likely repeat movers.
• The Residential Bridge: Partner with high-end residential agents at eXp Realty. Their luxury clients are often the same individuals making corporate real estate decisions.

5. Don’t Pay for the “Proforma Myth”

In CRE, “proforma” is often joked about as “ancient Latin for ‘the broker made some numbers up’” noted LeTourneau. As an advisor, your job is to protect your buyer from paying for value they have to create themselves.

• The Strategy: Never let a buyer pay for a “proforma cap rate.” Compare the seller’s claims against current market averages and actual income/expenses to be more accurate when analyzing assets. 

6. Bridge Price Gaps with Debt Nuance

When a buyer and seller are at a stalemate over price, the solution often lies in the debt structure rather than the sales price.

• The Tactical Shift: You can often bridge a gap by adjusting the amortization (e.g., moving from a 20-year to a 25-year note). This allows the buyer to meet the seller’s price without increasing their monthly debt service.

7. Close the “70% Delta” with Equity Statements

While 83% of buyers say they would use their broker again, only 13% actually do. LeTourneau attributes this 70% delta to a failure of follow-up.

• The Solution: Twice a year, send past clients an equity statement (not just a CMA). Detail their current equity stake based on market value and debt paydown.
• The Goal: Position yourself as a portfolio strategist by showing them how to redeploy that equity into new assets.

8. Master the “Trigger Dates”

Commercial real estate is driven by predictable timelines. Every lease and loan has a go or no-go date that serves as a natural touchpoint for an advisor.

• The Strategy: Use your CRM to track lease expirations, option periods, and loan balloons.
• The Timing: Reach out four months before a lease expires or two months before an option window opens. Being the first person to call during these critical windows ensures you remain their primary strategist.

Beyond the Transaction

Winning at buyer representation isn’t about being the loudest person in the room. It’s about being the most prepared. At eXp Commercial, we provide the framework to help you evolve from a transactional broker into a long-term strategic partner. Success in this industry belongs to those who can parse data to see the “room behind the closed door” and protect their clients’ equity at every turn.

This content is provided for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. All investments involve risk, including possible loss of principal. eXp Commercial and its affiliates do not guarantee any investment outcomes or returns. Readers should conduct their own due diligence and consult with qualified financial, legal, and tax professionals before making any investment decisions.