The foundation for success in the commercial real estate industry lies in prospecting for the best properties, building a list of property owners, and reaching out to these owners, so as to build lasting relationships with them.
Researching target properties
The process for prospecting target properties involves having the ability to identify those projects which can bring the most value to you. Research is a very valuable tool in this regard, because it will help you track down commercial owners who are looking to buy and sell, and it will put you in touch with owners who are looking for specific services.
Establishing a list of property owners
When you have settled on a good prospecting approach, you’ll need to build a list of property owners, so that you can prioritize them and begin thinking about your outreach for these owners. When you’ve established a list of property owners, you’ll be able to prioritize those which have the greatest potential of bringing real value to your business.
Connecting with property owners
To be really systematic in your approach, you should set aside a daily period of time where you reach out to property owners and begin your prospecting efforts. When you go about this, you should have a prepared script which will help you deliver your pitch, without wondering what to say next, or which topics to cover. You’ll want to present your services in the best possible light, and then you’ll want to include as much useful data in your talking points as possible, all of which you derived from your research.
Follow-up with property owners
If you’ve made a good impression with your prospecting script, and have your foot in the door with a property owner, you should be well on the way to pushing a prospect to the point of conversion. Emails are generally a good form of follow-up, because they remind the property owner of your presence, without crowding them and getting in their face. Another useful aspect of following up via email is that you can have all your follow-up emails scheduled and automated, so that you don’t have to manually write out each one.
Commercial real estate investment with Black Wolf Capital Group
If you’ve been thinking of investing in commercial real estate, but lack the funding, we may be able to help. Contact us at Black Wolf Capital Group, so our financial experts can discuss some options for funding that important commercial real estate investment you have in mind.