The success of any commercial real estate business depends on its ability to generate leads. Previously, cold calling and networking were the primary methods for finding commercial real estate leads, but with an increased focus on technology, systems and processes have evolved. This allows agents and brokers to access relevant information and advanced techniques for managing and increasing the number of potential clients.
Create a List
It would be best if you used various sources to build your internal database to generate leads. Start by going through your existing contacts and classify them according to their industry type, IE Retail, industrial, multifamily, etc.. Additionally, you can use established online commercial real estate databases from well-known sites such as LoopNet, Costar, and Reonomy. These sites provide information about property history, ownership, and pricing options which you can incorporate to create a detailed and sophisticated list to identify potential customers.
Use Commercial Real Estate Prospecting Software
Technology and sophisticated software can aid the process of lead generation. Such softwares can help categorize and classify your data to identify which have a greater possibility of becoming leads. It is also easier to send mass, or targeted emails as the software records customer contact information.
Softwares are incorporating predictive algorithms to serve real estate agents better. ProspectNow, for example, uses an algorithm to identify properties that are most likely to be listed for sale in the coming year. It dives into current data available for popular properties that are hot in the market and shortlists other properties based on hundreds of data points of successfully sold.
Up Your Research Game
Commercial real estate professionals need to capitalize on industry and lifestyle trends that can help determine what prospective clients are looking for. Keep tabs on deals currently being made by other brokers and owners to devise your marketing strategy. Look for information about recent transactions and the parties involved on news sites such as The Real Deal and Commercial Observer.
LinkedIn can also be used to find prospective clients by filtering location, industry, and company. Direct messages and cold emails can help generate leads. You can even use tools such as LinkedIn’s Sales Navigator to find the right people and companies and engage with them. The advanced lead and company search allows you to create custom lists and tracks engagement to provide lead recommendations and preferences.
Generate Leads Through Your Website
Your website provides visitors the opportunity to learn more about your services. Enhance your website’s credibility by including reviews and testimonials along with blog posts addressing common concerns of buyers and sellers. Positive testimonials can increase trust in the business, while blog posts show your industry’s knowledge and make customers more likely to take your advice. Get a custom website.
Websites are a source for online traffic, and they should include a lead generation form where people can voluntarily offer information that can lead to conversion. Lastly, the websites should be -mobile-compatible to improve customer experience and increase lead generation. Get a lead gen website.