“ The outcome of the current spike in demand for virtual tours is that while viewings will always be needed for final decision, it will allow long lists to become shorter lists decisions. ”
It’s a common misconception that being a commercial real estate broker is only about assisting people in buying, leasing, selling, and investing in commercial real estate. That’s only the tip of the iceberg.
The crucial part of broker’s workflow is getting commercial real estate leads and turning them into clients. Finding commercial real estate leads means understanding how to position your lead magnets and what tools to use.
In this article, we’ll have a closer look at the specific ways and tools that help brokers generate commercial real estate leads and increase the market share of their brokerages.
How to Get Commercial Real Estate Leads?
Lead generation is a marketing term that describes the process of attracting prospective clients and converting them into someone interested in your products or services.
In the commercial real estate business, a lead is a person interested in using your services to rent, buy, lease, or sell their commercial property.
Getting commercial real estate leads is akin to art: brokers and industry specialists must constantly polish their skills until a true masterpiece is created. In the following passage, we’ll focus on five ways of attracting commercial real estate leads every broker should know.
#1. Use Commercial Real Estate Software and CRM
Many brokers spend a lot of money and effort to get access to various lists of commercial real estate leads as well as property data. Commercial real estate software and CRM aim to help brokers operate on this data and use it effectively.
Moreover, CRE brokers need to store this information securely and use it anytime they start outreach campaigns.
Fortunately, there is a modern CRM system like AscendixRE that helps to:
- Store and use information efficiently
- Make lists of clients you need to follow up with and set up notifications for calls/emails/appointments
- Import property profile reports, generates brochures, and lease comp reports using Composer
- Find and filter hundreds of data points each week on selling properties, perform a search of your records on the map, and export data from Salesforce in Excel using Ascendix Search
- Generate and publish listings on property listing platforms such as MarketSpace.
#2. Use the Power of Digital Content
There’s no better way to interact with people than using high-quality digital content. It includes professional photography, drone photos, virtual tours, 3D renderings, and virtual staging services.
Embedding digital content to your website and social media pages will attract clients’ attention and make your property more trustworthy.
Presenting your commercial property using Google Cardboard or other VR headsets is an easy and efficient way to impress people as well as prove your dedication to customer satisfaction.
The more professional digital content you use, the more changes you get to build up an effective digital presence. As a result, you make your commercial real estate services visible to many potential clients.
#3. Buy Commercial Real Estate Leads
When you buy commercial real estate leads, you are purchasing a list of prospective clients and owners that have in some way indicated that they are likely to sell, buy, or lease commercial property. Some of these can include:
- Owners in pre-foreclosure
- Property owners who have announced their relocation
- Business owners who have announced their closure
- Probate leads (people who just inherited property and want to turn that property around via sale)
- People who have applied for or investigated loans
- People who have clicked on pay-per-click ads regarding selling property
- Internet users who have searched for the value of their property
- Commercial property owners that have responded to surveys about selling their property
You can choose the type of lead that you consider as a target audience for your market and business, then purchase from a source providing that type of leads lists.
#4. Target Prospects with Advertisement Campaigns
Use advertising platforms such as Google AdWords, Facebook ads, and LinkedIn ads to reach people through pay-per-click campaigns. Launching targeted ad campaigns can rapidly expand your reach, driving people to your website or landing page and then convert them into commercial real estate leads.
#5. Use Commercial Real Estate Data Sources
There are numerous sources of commercial real estate leads available for brokers.
Here are the most appropriate ones that provide explicit information about ownership, transactions, and investment opportunities.
Real Capital Analytics allows brokers to analyze and identify potential investment opportunities by targeting properties that meet specific detailed criteria. In this way, it helps brokers and CRE specialists to find firms for potential joint venture partnerships.
Reonomy is a commercial real estate data platform that contains ownership information for over 49M commercial properties in the U.S. Reonomy gets its proprietary data from a variety of public and private data sources.
CoreLogic offers an inventory of data and analytic solutions for securitized and non-securitized properties through the U.S. The property details include:
- Ownership and mortgages
- Mortgage maturity data
- Listings of distressed properties
- A brief description of a specific property owner or lender.
3 Lead Generation Tools for Realtors
Commercial real estate lead generation tools are more critical now than ever. The market competition is fierce because, according to the Association of Real Estate License Law Officials (ARELLO), there are 2 million real estate licensees in the United States.
To win the race and stand among the crowds in the industry that never sleeps, you’ll also need to have some reliable tools in your arsenal.
MarketSpace is a multi-functional tool for marketing your Listings and Availabilities and creating business communication with tenants and investors. MarketSpace has a convenient search option, demonstrates available listings in one click, and enhances brokers’ sending mailings with available buildings to their databases.
Realtor.com is one of the leading lead generation tools for realtors. The website has data on active buyers who are ready to connect with a commercial real estate agent. Moreover, it offers organic and promoted listings for CRE professionals.
BoldLeads automates getting commercial real estate leads, upgrades a lead nurture process, and helps brokers through every step of the customer journey.
The service assists with ad creation, takes care of lead nurturing through funnels, and provides robust marketing features.
Top 3 Mistakes to Avoid in Commercial Real Estate Lead Generation
Trial and error are inevitable parts of what makes any business thrive. Whatever your lead generation strategies are, you’ve likely fallen into a few of these common traps.
Mistake #1. Skipping the Best Practices When It Comes to Your Website
Your real estate agent website is an excellent source for lead generation. According to a report by NAR, in 2020, 97% of homebuyers used the internet in their home search, while only 69% of NAR members have websites.
However, creating just a website isn’t enough. To maximize its value, you need:
- Have a good SEO (search engine optimization) strategy to rank well in Google searches (so the clients can find your website on the first pages of Google search)
- Have a user-friendly and responsive web design
- Have a property listing section with multiple filters and robust search system to let website users easily find the right matches
- Create valuable and engaging content to connect with leads
- Create a community section on your site to engage leads
- Save website leads to your CRM software automatically
- Don’t skip the best marketing and SEO practices for your website to increase your lead conversion.
Mistake #2. Forgetting To Follow-Up with Your Leads
There is always a certain percentage of leads considered “dead” because people provide inaccurate contact information. But one big mistake that commercial real estate agents make is to label a client as “dead” just because the prospect doesn’t respond right away.
If a person doesn’t respond for the first time, contact them again after some time (send an email, write a message, etc.). By doing that, you follow up with your clients, make them remember you and your services.
Also, don’t ignore LinkedIn as it is one of the best places to reach your decision-makers. Based on my experience, LinkedIn outreach significantly outperforms email campaigns if done right.
Incorporate multi-channel approach using email, phone call, LinkedIn messages.
Also, make sure you record all activities in your CRM. Then, you’ll be able to create a list of prospects that require your attention, and these prospects will appear in your lists when it is time for the next follow-up.
Mistake #3. Forgetting Clients After You Close the Deal
Closing the deal doesn’t mean the end of your relationship with clients. Nurture them from time to time by sending:
- a short survey to find out what you did well and what you can do better
- a polite request for referrals and review of your service
- a list with new availabilities and deals that might be interesting for them
- market insights, tips, and tricks to prove your expert knowledge
- congrats on milestones—birthdays, weddings, or the anniversary of when they bought their house.
When clients keep you in mind, they are more likely to contact you next time they need commercial real estate services.
Get More Commercial Real Estate Leads with AscendixRE CRM
Implement AscendixRE CRM into your brokerage. Request your personal demo session today.
The commercial real estate industry is a challenging and competitive market. It’s important to understand how to find commercial real estate leads and match them with the correct listings. This can take time to learn but can be accomplished with practice.
If you want to operate with advanced listings, check out MarketSpace integrated with AscendixRE CRM. It has a database of commercial properties, so that commercial real estate agents can build their base of potential sellers. The range of commercial real estate agent tools and features help you find ownership and contact information for properties that meet your specific criteria.
How to Get Real Estate Leads Without Cold Calling?
Cold calling isn’t the only way to generate commercial real estate leads. To do that, you need:
- Use Commercial Real Estate Software and CRM
- Use the Power of Digital Content
- Buy Commercial Real Estate Leads
- Target Prospects with Advertisement Campaigns
- Use Commercial Real Estate Data Sources
Kateryna creates engaging content about Salesforce consulting, Ascendix products, and CRM best practices for the commercial real estate industry and legal services. Her articles provide readers with relevant data, stats, business tricks and overviews of new industry trends and CRM updates.