Out of Your Comfort Zone: Expanding Your CRE Deal Types

It's pretty common as a broker to stick exclusively to a preferred asset type (and I see it most frequently with multifamily) or geographic area.

It's logical, too. You know it best: It's comfortable. It feels predictable.

It's also growth limiting.

Why Branch Out?

I'm not kidding when I say it's limiting your growth. Asset types don't perform the same (as we all know — I see you, office space). Focusing on one type of deal means you're basically surrendering yourself to that property type's fate.

Say you're in multifamily. That might work out great for you most years. But some years (ahem) have been more challenging than others, and — as a direct result — if you're only taking multifamily clients, you're trying to get a slice of a smaller and smaller pie.

There's another angle, though. If you're working with multifamily clients that know you as their _multifamily_broker, they may go elsewhere when it's time to finance a retail or industrial deal. You've already got those client relationships in place — why not capitalize? Your client wins; you win.

The Smart Way to Expand

Of course, it's easier said than done. But it's a lot easier to do it today than it was three or four years ago.

First things first, you do need a strategy. You've got to understand market dynamics and have the right lenders in your orbit. Miss out on either of these, and you could end up with nothing but months of wasted time (and a damaged relationship or two).

So how do you expand into new asset types or locations?

Know Your Market

Before entering a new category, understand the basics. Understanding the purposes and drivers behind every asset type will go a long way, and current research reports can also help_a lot._ I used to write office and multifamily market reports for Yardi Matrix — and they're pretty good resources — but any type of data-based report will do a lot for understanding how, say, industrial properties are doing in Dallas-Fort Worth.

Colliers, Marcus & Millichap, Cushman & Wakefield, CBRE, and a whole bunch of smaller, regional brokerages will publish very detailed, specific reports, sometimes as often as quarterly.

This can admittedly create a new challenge: research paralysis. Just try and come up for air between reports, read some trend news (GlobeSt, Commercial Observer, and Commercial Property Executive are good places to start), and then move on.

You can also use Janover Pro to get some basic feelings about a market. Do a quick search, filter by asset type and location, and see who's an active lender in your area.

Only 10 or 20 results? It's probably an underserved asset type in a low-demand area. Hundreds (or thousands)? There's probably a good amount of deal flow there.

Find the Right Lenders

Finding the right lender used to be the biggest barrier to entering new categories. Today, it's significantly easier. With Janover Pro, you can see exactly which lenders are actively funding your target property type, down to the county level. You'll see their credit boxes, geographic preferences, and direct contact information.

Start Smart

Even if you understand the asset type, know your market, and have a good network of lenders to reach out to, try to start with a simple deal. "But a simple deal doesn't exist, Jeff," you say, and I hear you. But it's seriously best to avoid deals that are insanely complicated on the surface: Put your knowledge and network to the test, first.

Risk Management

Managing risk as you expand into new territory comes down to two key elements: understanding and transparency.

First, you need to truly understand what you're getting into. Market reports are great, but you also need to dig into actual deal terms. Using Janover Pro, you get access to lenders, and you'll be able to see what's actually on offer in your target category. This can help you spot potential issues before they become problems, which will help build trust with your clients.

Speaking of your clients, transparency is everything. Be upfront about your expansion into this space. Most clients appreciate honesty and will respect you for it. Explain how you've prepared, show them your research, and detail exactly how you'll handle their deal. Don't go overboard with it, but just remember that they're potentially trusting you with their investment. Be open so they have confidence you're the right person for the job.

The Right Time to Expand

Ask anyone who's founded a company, or changed careers, or moved into freelance consulting, or whatever: There is no perfect time to do it. You're never actually fully "ready" to do it, but that can't stop you.

After all, you don't need years of experience to explore new categories. What you need is:

• Basic understanding of CRE fundamentals
• Access to reliable market data
• The right tools to identify and reach lenders
• Professional deal submission capabilities

All of this is available through modern platforms. There's no need to spend years building relationships and dipping your toe into the water before making a splash.

Moving Forward

The most successful brokers I know aren't necessarily the most experienced in every category, or even in any one category. They're the ones who know how to leverage modern tools to expand intelligently. They use platforms like Janover Pro to identify opportunities, connect with the right lenders, and present deals professionally.

Remember: Every single established broker started as a newcomer in his or her category. The difference today is that you have reliable tools to make that expansion faster and easier than ever before.

I didn't say easy, mind you. It's still going to be hard (hopefully highly rewarding) work. Just easier.