This column comes to you direct from the state of Florida, where you can easily find a wide selection of commercial assets and condominiums by the bulk load. You can also compete with a large flock of cash buyers who are no longer circling, but are swooping in to make offers on choice assets at bottom prices. That is the problem.

"We made offers on twenty apartments, and did not do one deal," lamented one broker, "The trick is to know where the properties are that no else knows are for sale."

They are called 'trophy' assets in the commercial real estate business. They are not easy to find. You will not be calling a local office to ask about the property you just saw on the internet.

What is a 'trophy" asset? It is an asset that few knew was for sale. It takes trusted relationships at the highest level to find these properties.

Samples of ''trophy" opportunities, based on what the author heard in just the last week, include:

"I have a friend who wants his to seel two hotels. He has decided to get out."

"I am about to list a 64-unit condominium with the bank. I will call you when I do."

"The (name) condo hotel just went back to the bank; one of the partners is trying to buy it."

"My client is looking for a 60-unit condo in southeast Florida."

"We have a client looking for $40 million to build an international hotel in the last prime location in our city. We will be happy to introduce you,"

Not one of these opportunities is listed anywhere on the internet.

The fact is commercial brokers need a lot more than their commercial listing networks. They need a commercial attorney, architects, bankers, property management companies and other relationships who can keep them on the inside track for 'trophy' opportunities.

Well connected attorneys are ideal resources. Experienced agents know who they are, and they know how important it is to the network that they bring only ready, willing, and able buyers into their 'trophy' network.

Attorney Terry Delahunty, Jr., a real estate attorney with 25 years of Florida real estate experience, recommends that brokers be diligent in evaluating new prospective buyers.

"Be careful when dealing with people you don't know, or who do not come with a recommendation from a trusted source.

"There are many players in the market now. Some are for real but others are of questionable background. It is hard to know how to tell the difference but your attorney may be able to assist you in doing your due diligence on the contact and on the project under consideration.

"I have seen that some of the more successful businesses are those who have a trusted team with whom they work and who can help investigate opportunities from different angles." Orlando business broker Salman Hamirani, who works with investors through his Indian, Pakistani, Canadian and African networks in one of the five languages he speaks, explains the buyer protocol used by his team.

"It is important for all parties to get off to a great start. Naturally, we need to know if the buyer is financially capable to purchase the target asset. If the prospect has a track record in the type of property sought, or other credentials reflected in his website, we may start the qualifying process without a proof of funds letter.

"Otherwise we require the proof of funds. With it, everything goes into action. It is important that we don't fire blanks with our confidential and private network.

"Due to the privacy issues related to trophy properties, I have my attorney review the prospect's credentials, and we then decide how to proceed from that point, " Hamirani said.

Some brokers might feel bringing an attorney in so early in the process is a little unusual, but according to Hamirani, "in this confusing and overwhelming international investor market, it the safest for all concerned."

"Getting the attorney involved does more than help solidify the buyer's qualifications. It helps trigger the attorney's memory about properties or clients he knows have assets to sell that are not on the market. Will I take a look at the internet? Of course. But my first resource is my trophy network of lenders, attorneys, and my close broker friends. Not all trophy properties are owned by the bank. In fact, some might be doing quite well or on the way to recovery. The 'property' may have a cash infusion need, or a discounted note." Different strokes for different folks, as they say.

"We ask that the buyer get comfortable with our team, and if desired have a discussion directly with our team attorney. Then I ask the buyer to be totally honest with me about his requirements, his ability to conduct the due diligence within the agreed upon time, and when he plans to close. If he cooperates with my terms I can do everything possible to help it happen on his." Hamirani said.

The takeaway: Trophy properties are more likely to be found by trophy investors when the trophy network knows it is dealing with a ready, willing, and able buyer.

Contributors: Attorney Terry Delahunty, Jr, is a shareholder of Gray-Robinson, one of Florida's largest law firms with offices in ten major Florida markets. Mr. Delahunty is a past president of NAIOP, a national group of commercial real estate professionals, and advisor to The Fletcher Group.

Realtor Salman Hamirani is a sales associate with VR Business Brokers' central Florida franchise and member of the board of directors of the Central Florida Commercial Association of Realtors (CFCAR).

Published: April 29, 2010

Use of this article without permission is a violation of federal copyright laws.

David Fletcher has been a Florida real estate condominium and new homes broker for 30 years with more than $3 billion in new construction sales. In 2008, Keller Williams Realty International named him a "Lifetime Achiever." Along the way he has chaired the Florida Homebuilders Associaiton Sales and Marketing Council, trained thousands of general agents and on-site agents to work together, and was a featured speaker at the National Association of Realtors. Recently he founded New Homes Niche, a builder-certified co-broker training system "to meet the growing trend we see in short sale buyers moving to new homes for a lot of reasons." Call David at 407 234 2349, , and visit his website.