Hey guys, I work on an investment sales team creating OMs/financial analysis. Something I'm noticing is that prospective buyers always seem to miss that we have a data room which contains rent rolls, T12s, leases, etc. We point out to click the data room in the email blast we send out and we make note of it in the OM with a pretty noticeable hyper link. Is there anyway to make this even more obvious?
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They're barely looking at the OM if at all, no one is reading the 20-50 pages. A deal comes in, I'm sure you included the cap rate - it's way too expensive and they don't even bother to look at it.
We used to get data rooms for deals to have the info then literally do nothing roughly 2 years ago when the market was worse. We just wanted the information. At another shop we engaged a broker and never had the approval to even move forward with the deal or had brought it up to IC/senior execs (a month process).
But the answer is the deal isn't attractive right now so they are skimming the OM (I'm taking take 30 seconds to a minute) and not even dealing with the deal room.
I'm confused by this response. They're reaching out through email to ask for the T12/Rent roll so clearly they're interested in the data room for the deal but they are missing it every time. We include verbiage saying it's contained in the data room and provide multiple links to it. I'm just confused why it's being missed from people who are interested in the information.
They're asking for the bare minimum, a T12 and current rent roll and looking at T3/T12 data for income/expenses.
In reality they didn't look too hard at the OM and don't want to waste time going into the deal room/making an account so they're asking you for what they need now to see what it looks like on an initial look. They probably aren't super interested and maybe doing this for 20/100 deals that could make sense but actually moving forward with 1/100.
In all honestly the VP saw this deal and said could be interesting, good location or solid asset for xyz strategy we may want to do. Get RR and T12 and do quick BOE analysis to see if it makes sense. Send me that data then.
The analyst will do it and the VP will say pass, was not as attractive as I thought meanwhile you're waiting thinking they're interested when they only asked for what they need to do a quick yes/no.
In my experience, the data rooms are just a pain to access. Every brokerage has their own system, I can't remember my passwords, and we don't get updates when there are new documents and I'm not going to just check them every day.
Does your deal room require approvals? If I encounter any sort of downtime, I'll just ask the brokerage team (because attaching a few files to an email w/ a "see attached" isn't asking too much).
CA's are bullshit, just create a shared link plz.
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