If we were telling you about a beginner’s guide to prospecting in commercial real estate, we would talk about networking and canvassing. There would be advice about how to talk to people everywhere, all the time. You’d find tips for cold calling and email outreach, and guidance on scheduling and tracking your efforts.
But this ebook isn’t a beginner’s guide. This is for brokers who are past the struggles of the early years, where organization is still a work in progress. This is for brokers who are ready to build a scalable process that ensures their pipeline stays full and the paychecks keep coming. We assume that you have centralized technology and a CRM, not just a collection of Excel spreadsheets. (If not, start with A Practical Guide to CRM for Commercial Real Estate).
And we’re going to be honest—to become an expert, you need to put in the work. There are ways to be more efficient, but there are no true shortcuts. To make more money, you need to invest in technology and take the time to implement better processes. But it’s worth it.
The expert broker knows that his or her value lies in their relationships and by extension, their database. To find the truly valuable contacts and make meaningful connections with those people, you have to know who they are, their portfolios, their networks, their past behavior, etc. You have to be an expert on your market and all the properties and people in play. There is so much information to track, and while there are a lot of data services out there to help you get started, they’re all imperfect. You have to gather and maintain your own data.
But if you’re diligent about building your database and keeping it up to date, it can pay huge dividends.
This ebook lays out the most important things to track so you can segment your database for the most effective, efficient prospecting. This will give you the highest probability leads in your market.
If you have these groups catalogued correctly, it should be easy to pull lists and track your tasks so you can build relationships in a strategic, systematic way that keeps the deals rolling in.