Finding the right prospects can make or break your commercial real estate business. Commercial real estate is a numbers game, the more prospects, the more likely you’ll get regular deals following through the pipeline. Therefore, you have to learn how to find and convert potential cleints by convincing them about the merits of your business. We have some great tips for you if you’re looking forward to generating leads and making your mark in the industry.
Start Local
The best place to start looking for prospects is available on your smartphone and your email list. Personal contacts are an excellent place to start, so categorize your contacts according to their profiles and interests, IE multifamily, retail, etc.. Then, reach out to these people through a phone call or email and establish a rapport, resulting in potential lead generation.
Think Global
Once you’ve filtered all your current contacts, it’s time to expand your search area. This might be harder to do as you have to seek new clients actively. However, technology has made the process simpler than it was as information is readily available online, making targeting easier. Let’s look at some common online places you can use to grow your network. Reonomy. ProspectNow.
Use Real Estate Listing Sites
Sites such as LoopNet, CREXi, and Catylist list information about commercial property owners, including their history, tenants, and commercial mortgage details. These platforms provide a curated database of potential leads that you can incorporate into your list.
Use CRE News Sites
Commercial real estate news sites such as The Real Deal, Bisnow, and CREtech are hubs of global information. These websites aggregate current CRE market trends and include details about recent transactions along with information about relevant parties involved in deals in your area. This allows you to stay informed about popular properties and potential buyers.
Use CRE Real Estate Data Sources
Online commercial real estate data sources can provide information about transactions, ownership, and potential investment opportunities. For example, Real Capital Analytics allows you to target properties that fit specific criteria, which can help find businesses and individuals interested in joint venture partnerships.
CoreLogic is another option that provides commercial real estate data and enhanced analyzing capabilities to evaluate its inventory of data throughout the United States. This platform can reveal details about ownership, commercial mortgages and even allow users to look into the holdings of a specific property owner or lender.
Expand Your Network
While technology can give you access to a global network when you’re trying to create new connections, don’t discount the benefits of an old-fashioned face-to-face. Communities and associations come in handy when finding prospective clients, and word-of-mouth is a great strategy to establish your credibility and trustworthiness.
This is why you should become part of a local commercial real estate association and focus on building valuable relationships. These networking opportunities can help you widen your reach and build custom contact lists unique to your business. Check out our Lead Generating Website Design.
