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.
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.
5 Ways to Attract Commercial Real Estate Leads
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:
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 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. ”
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.
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:
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.
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.
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:
Custom Real Estate Database Case Study | Ascendix Technologies
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.
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:
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:
When clients keep you in mind, they are more likely to contact you next time they need commercial real estate services.
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.
Feel free to check our case studies and contact us to discuss what solutions Ascendix can offer to increase the number of commercial real estate leads.
Cold calling isn’t the only way to generate commercial real estate leads. To do that, you need:
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.
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This blog on commercial real estate leads is a goldmine of information! Your breakdown of lead generation strategies, from email marketing to CRM systems, is incredibly comprehensive. I particularly appreciate the emphasis on data quality and the role of technology in streamlining lead management. The tips on leveraging social media platforms and industry-specific databases are practical and actionable. As the commercial real estate landscape evolves, these insights will undoubtedly be invaluable to professionals seeking to stay ahead of the game. Thank you for sharing such a well-researched and insightful guide to generating commercial real estate leads!