13 Tips on How to Generate Commercial Real Estate Leads

May 22, 2024
9 min

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. In the modern realm, commercial real estate lead generation is a complex process that requires a multichannel approach.

But fear not!

This article is your roadmap to success, packed with 13 actionable tips to transform your lead generation game, 3 useful tools for lead generation, and 3 mistakes to avoid.

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How to Get Leads in Commercial Real Estate?

13 Ways to Attract Commercial Real Estate Leads

#1. Use AI-Powered Lead Scoring

 

AI for real estate professionals is a great assistant and time-saver. Utilize AI-powered tools that analyze leads and predict their likelihood of conversion. This allows brokers to prioritize high-potential leads and allocate resources efficiently.

#2. Don’t Be Afraid to Use CRM Platforms

 

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.

Get More Commercial Real Estate Leads with AscendixRE CRM

Implement AscendixRE CRM into your brokerage. Request your personal demo session today.

#3. Let ChatGPT Generate You More CRE Leads

 

Since its first launch in November 2022, ChatGPT has turned all businesses upside down. In less than three years, it has become an integral part of lead generation, and the commercial real estate industry isn’t an exception.

There are 25+ proven ways of how to use ChatGPT for real estate and the number is constantly increasing.

From simple generation of description for property listings to providing enhanced customer support, ChatGPT covers many marketing aspects and beyond.

#4. 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 who 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.

#5. Use Commercial Real Estate Data Sources and MLS

 

There are numerous sources of commercial real estate leads available for brokers on MLS.

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.
Case study Cresa for clickable picture

Custom Real Estate Database Case Study | Ascendix Technologies

To use data sources and MLS more effectively, you can automate the process of capturing inbound inquiries submitted on platforms like LoopNet and CREXi. It is possible due to the recently modified Salesforce Email-to-Lead functionality that is now available in AscendixRE CRM. More information you may find here.

#6. 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 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.

Edward Parry-Jones, Data Director in JLL’s central London office markets team

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.

#7. Perform Targeted Social Media Engagement

 

Actively participate on platforms like LinkedIn, Reddit, and Facebook by engaging in discussions, sharing valuable content, and connecting with potential clients. To get an explicit list of top social media platforms for commercial real estate brokers, feel free to read this article.

#8. 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.

#9. Build Your Branded Website

 

At the core of inbound marketing lies a commercial real estate website designed and optimized for efficient lead capture, engagement, and conversion of visitors into prospective leads.

Regardless of your target audience—whether investors, tenants, or landlords—creating an effective commercial real estate website stands as a pivotal marketing asset in any lead generation endeavor.

If you’re looking for expert assistance from the web development team, feel free to contact Ascendix.

#10. Include Contact Forms on Your Website

 

Contact forms are vital to capture user information when they are interested in a specific property listing, looking for general questions, a consultation or sales call requests.

Make your contact forms responsive to all types of devices. Some of the best practices for capturing visitors’ information are to include 3-5 form fields, add links to privacy policy, set up prepopulated text for message, and write strong call to actions.

Also automate capturing inbound inquiries from such property listing platforms as LoopNet and CREXi directly into your CRM.

#11. Use the Power of Commercial Real Estate Keywords

 

SEO optimization of your website is a key component for effective generation of commercial real estate leads. If you target keywords that define your specialization and have a moderate volume at the same time, your web content has all chances to be appreciated by Google and shown on top of the search engine results.

#12. Attend Podcasts and Generate Video Content

 

Explore creating engaging commercial real estate podcasts discussing CRE trends (e.g., PropertyShe, America’s Commercial Real Estate Show, The Commercial Investing Show, and others) or video content showcasing your expertise on property types or market insights. This can establish authority and attract potential clients searching for information.

#13. Participate in Industry Events

 

Attend commercial real estate conferences, trade shows, and local business association meetings to connect with potential clients and industry professionals who might require your services. Consider sponsoring relevant events for increased visibility.

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 by Ascendix

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

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

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.

Top 3 Mistakes to avoid in Commercial Real Estate Lead Generation 02

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
  • Integrate your website with MLS or CIE systems
  • 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.

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Conclusion

 

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.

FAQs

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

Lead Generation Tools for Realtors

How Much Do Realtors Spend on Lead Generation?

The amount realtors spend on lead generation can vary widely depending on factors such as their market, target audience, and chosen marketing strategies. Some realtors may spend a few hundred dollars per month, while others may invest thousands of dollars to generate leads through various channels such as online advertising, social media marketing, email campaigns, and networking events. According to various industry sources, real estate professionals typically allocate anywhere from 10% to 20% of their commission income toward lead generation efforts.

If you want to make your lead generation process more efficient, try AscendixRE CRM.

How Do Commercial Brokers Get Leads?

Commercial real estate brokers rely on a multifaceted approach to generate leads and build a strong client base. Here are some of the key strategies they employ:

  • Networking & relationship building (Industry Events, cold calling, professional organizations)
  • Online presence & digital marketing (Website & Social Media, content marketing, SEO, paid ads)
  • Leveraging existing networks & referrals (past clients, strategic partnerships)
  • Utilizing industry data & tools (CRE databases, lead generation tools)
  • Attending property tours & open houses.

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John

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!