Reonomy is a CRE database tool with information on over 47 million properties nationwide, from property owner contact information to property tax and sales history. The tool’s search filters can be manipulated to produce tailored leal lists containing property owner’s email addresses, phone numbers and direct mail addresses. As a property cost segregator, the true beauty of the tool lies in its ability to allow you to target building owners and property managers who may now or in the future be searching for your cost segregation services. For example, there are currently 3,861 office spaces in Chicago. As a cost segregation specialist, working in the Chicago area and specializing in buildings containing offices, consider the value add you can get from Reonomy providing you with ownership contact information for these buildings.
Growing your business as a property cost segregation specialist
The biggest focus for most businesses is usually two concepts – how to generate leads and equally as important – how to keep them engaged as paying customers once these leads are converted, . As a property cost segregation specialist your focus will be no different. As the world has embraced a massive technological shift, each industry has to be able to adapt with this shift to remain competitive. Concepts such as online tech platforms, virtual reality (VR), artificial intelligence (AI) and automation have replaced traditional labor intensive work that businesses may have once relied on to generate cost segregation leads. This shift has resulted in many property cost segregation companies looking for new ways to source leads through implementing new cost segregation marketing strategies and utilizing new real estate lead generation software.
One of those online tech tools is Reonomy’s own platform. Reonomy is a commercial real estate database consisting of 47m+ properties across the U.S – that’s 99% coverage nationwide! The beauty of the tool lies in the seamless user experience and easy navigation of the database, which can add massive value to a cost segregation company’s lead acquisition and marketing efforts.
In this case, as a property cost segregation specialist, Reonomy can directly impact your property cost segregation lead generation levels through its high-value information. Below, in Part A we will outline how the tool adds value and in Part B we will demonstrate how to put these features into action yourself.
Part A: How Reonomy transforms the lead generation process for property cost segregators
Does spending valuable hours driving around an area looking for potential properties that you may want to work with sound familiar? Does struggling to find out who the property owner / manager is and sourcing their contact details sound even more familiar? With Reonomy, a simple search using the filter list can provide you with a list of all ownership contact details associated with a particular property in minutes. Many large firms and properties have their own internal tax counsel, so with Reonomy’s ownership contact information you can forge a direct connection with prospects, allowing you as a cost segregator to get in front of the right audience. Information available ranges from email addresses, telephone numbers and phone numbers as the tool pierces through the LLC of an owning entity.
Search by geography
One search filter on the tool is to search by geography. This allows you to:
- Explore the area you work in more efficiently and in-depthly
- Research other locations you may not have been able to explore due to physical distance between that location and where you are based. If there is demand in an unexplored area for you, you now have your hands on the contact details for the property owners and can instantly reach out via a highly targeted marketing / sales strategy. What are you waiting for?
Market Comparisons and Sales Price
Reonomy provides property specific financial details such as sales, debt and tax information. Sales information includes all last recorded sales prices for a property asset, allowing you as a cost segregator to establish what the building is valued at and in doing so conduct comparisons with similar asset types to identify any opportunities to pitch your services to the property owner.
Search by most recent sales price
Further to this, the “most recent sales price” drop down filter allows you to specifically search properties based on the asset cost limits you operate within. This allows cost segregators who are sole operators to get involved and source the middle markets they work.
Search for recently sold properties
Reonomy’s “sold between ..” and “not sold between…” drop down search filter enables the cost segregator to hone in on properties of a specific sell date, for example recently sold properties. This empowers you as the cost segregator to get in and pitch your services to the property owner before a different cost segregator does.
Search by year renovated
As well as searching for when a property was last sold, you can further search for when a property was last renovated. This would be of interest if the property has recently had new installations – for example received a WELL building accreditation due to possessing particular sustainable features there may be tax credits / exemptions that property owner can leverage. Cost segregators specializing in the area of property sustainability and/or energy efficiency can use this reonomy feature to their advantage.
Ownership Portfolio Search
Leading on from the first point of being able to uncover property owner contact information, the ownership search feature allows you input a property owner’s name or the LLC name. Given that many property owners have a property portfolio hidden behind an entity or LLC name, this feature uncovers all properties listed under an LLC for you, opening up the opportunity to pitch your services to an owner’s entire property portfolio – expanding your potential deal size.
Conduct highly targeted marketing campaigns
Reonomy’s export feature provides you with a concise lead list containing property owner’s email addresses, mailing addresses and phone numbers. This allows you to conduct highly targeted sales and marketing campaigns to your cost segregation prospects. The leads can be directly copied into your CRM system and then used as the driving force for various marketing mechanisms such as email blasts, direct mail campaigns and cold calling campaigns. The number of leads you can export is also consistent on a month to month basis regardless of what plan you sign up for.
Part B – How Reonomy’s tools can be a cost segregator’s secret weapon
Below we will go through how to actually use the tool to carry out searches and functions listed above.
Property ownership contact information
When prospecting for clients, it can feel difficult to develop a personal connection. And the connections you create with clients are critical to success. Whether you are spending valuable time driving around searching for potential properties or searching online connecting once will not likely result in a deal. Networking with owners in a way that motivates a commitment to working with you in the future might. This linkage is the most important factor in generating leads for your cost segregation business.
As mentioned above, one of Reonomy’s main benefits is that it allows you make direct connections is the exclusive access to ownership information.
Once you have found a property for interest based on your desired search criteria you will be greeted with more property specific filters.
In this case we will focus on the ownership tab. You can see in the screenshot we are prompted to unlock the property contact information.
Once we do this, we will receive all contact information related to the property owner(s) behind the LLC.
2. Search by geography
Reonomy offers a selection of geographic filters, ensuring you can uncover cost segregation leads in your location of interest.
The main options to search by are by street name, city, county, zip code and state. A more advanced geographic search which can also be used is to search via our interactive map. Here you can search a location of choice on the map and all the commercial properties will appear as individual parcel shapes. Any of these properties can be clicked on, which reveals further information, such as property ownership contact details. You can also view the property in 3D format on google street view.
A second geographic search option is manually drawing on the map with the custom draw tool (as seen in the screenshot above). For a lot of cost segregation specialists, they target specific areas and by custom drawing it on the map, the tool displays every commercial property that meets the criteria.
3. Market Comparisons and Sales Prices
As outlined, Reonomy provides property specific financial details such as sales, debt and tax information, ideal for conducting market comparisons and identifying cost segregation opportunities. Below is an example of the type of sales information the tool contains for a property.
4. Search by most recent sales price
Leading on from this, the “most recent sales price” drop down filter allows you to specifically search properties based on the asset cost remits you operate within. This affords cost segregators who are sole operators the opportunity to source the middle markets they work.
5. Search by recently sold properties
Reonomy’s search most recent sale date filter allows you to hone in on properties of a specific sell date, for example recently sold properties. In a search that may have turned up thousands of results, this filter is especially useful in breaking down that list to a more manageable number.
6. Search by year renovated
A unique feature by Reonomy is the ability to search for when a property was last renovated. Cost segregators specializing in the areas of property sustainability and/or energy efficiency may be especially interested in this filter.
7. Search by ownership portfolio
Once you have property owner information for one property– you can conduct a search with ownership details that will give you the entire commercial portfolio of that owner.
This feature is the icing on the cake for cost segregation specialists, as it enables them to focus their generation efforts on the property owners who have the largest portfolios, as they represent large potential accounts.
8. Conduct highly targeted marketing campaigns
As outlined, Reonomy’s export feature provides you with a concise lead list containing property owner’s email addresses, mailing addresses and phone numbers. This allows you to conduct highly targeted sales and marketing campaigns to your cost segregation prospects.
Email campaigns for cost segregation specialists
Email can be a very cost-effective lead generation method. While it does require a certain amount of time and effort to be invested in the designing of your copy, it still represents a powerful marketing channel with one of the best ROIs out there. The main challenge for most cost segregation specialists is that sourcing the cost segregation lead lists to use in an email campaign can be costly in time and price. However with Reonomy, you have your prospects email addresses so you can target with ease!
Apart from your message being delivered to your cost segregation leads, the campaign’s effectiveness can also be analyzed via the results that are provided to you by the email campaign software. These results will include things like email bounce rates, email open rates and click-through rates from your cost segregation leads. A wide range of email campaign tools exist that are suitable for real estate cost segregation specialists. One popular, reasonably priced solution is Mailchimp.
Results from email campaigns will always vary and this will be no different for your cost segregation leads. As a cost segregation specialist executing lead generation marketing activities you will want to know which email types are producing the most responses amongst your leads. A popular marketing technique to do this, is to rearrange the structure or design of your email campaign over a specific timeframe and compare the results. This concept is also regularly applied by marketers to website landing pages and app homepages and is known as A/B testing.
Common email variations/tests include:
- Testing the style or wording of your CTA (Call To Action). This is usually in the form of a link or button to your company’s website or to a signup form on the email.
- Altering the tone of the email (for example sending sales-focused content versus sending a piece of informative content, such as, an article covering latest trends in the real estate cost segregation industry)
- Switching up the tone of your email. For example personalizing it by including the prospects name versus keeping it general.
- Changing the sending frequency of a campaign (deciding how many emails you will send to the same prospect at a given time, for example, deploying a drip campaign like emailing the prospect once every week for two months).
Leveraging cold calling as a cost segregation specialist
Despite being a traditional outbound sales method, cold calling can still be very reliable in lead generation strategies, and integral in growing your cost segregation business. As a property cost segregation specialist, to really maximize your lead generation efforts, your cold callers need to be experienced and knowledgeable about your business and the real estate cost segregation industry.
A huge value add of using Reonomy is that you will be one step ahead of the competition when deploying cold calling techniques by having a highly qualified cost segregation lead list in your hand.
A final lead generation tip in relation to deploying cold calling methods is to ensure you have a dedicated, enthusiastic team who has the growth of your property cost segregation business at front of mind.
Direct Mail for Cost Segregation Specialists
Several traditional marketing activities have continued as a strong component of a company’s marketing mix and direct mail is one of these. As a real estate cost segregation professional trying to generate leads, direct mail is one marketing technique not to be ruled out. The cost per real estate property lead may appear high initially but if even one campaign generates a successful commercial deal, the campaign has probably covered itself. A direct mail strategy that could work well is to send mailers to targeted prospects within a particular area. These targeted prospects will be property owners / property managers who own properties in a certain location that you wish to target. This could be a location you are already familiar with and work, or it could be a new area of interest you wish to research.
A well put together direct mail leaflet will successfully prompt cost segregation leads to get in touch with the cost segregation specialist who has sent them. Direct mail is any form of paper-based promotional material, such as a flyer or marketing letter advertising your cost segregation services. While it is a less modern method, direct mail can regularly return results from your cost segregation lead list. As Reonomy pierces through an entity’s LLC, one of the types of ownership contact information provided is the mailing address for the owning entity. This provides a direct linkage to the property owner / manager of the targeted entity.
Below, several best practices are listed that a property cost segregation specialist may find useful if considering executing a direct mail campaign as part of their real estate lead generation efforts.
- Emphasise your brand
With direct mail flyers, appearance is everything. Eye-grabbing, stand out ad copy including your brand’s colors and logo are vital. Strong quality materials and a strong quality printer will also help in maximizing your real estate lead generation efforts.
- Include Incentives
Having some sort of promotional offer is a strong recommendation for direct mail. This will assist your real estate lead conversion efforts because it will grab the prospect’s attention and add value. Incentives can range from discounts, to bundle packages to any other financial deal that will make your cost segregation flyer stand out and catch your prospect’s attention.
- Possess a clear Call To Action
Last but not least, have a clear call to action on your cost segregation services flyer. This could be in the form of an email address, a phone number or social media handles. Your end goal as a real estate cost segregation professional utilizing direct mail activities is to make it as easy as possible for real estate prospects to get in touch with you.
Reonomy’s Workflow tools – enabling cost segregation specialists to spend less time sourcing deals and more time closing them.
To assist you in building out effective property cost segregation lead lists, Reonomy has workflow tools that provide an easier user experience for you. The tool kit allows you to bulk label properties of interest with different label colors, save searches and conveniently export your lists into an Excel file.
Want to discover the power of the tool for yourself? Start a free trial of Reonomy National today.