For the myriad of roles that make up the commercial real estate industry, one constant remains–the need to connect with property owners. Whether you’re an HVAC professional prospecting for new business or an investor looking to expand your portfolio, contacting property owners is an imperative part of the business.
In this article, we’ll discuss how to find and leverage contact information to start building long-lasting relationships for better business results.
Commercial Property Owners
Commercial real estate property owners come in various shapes and sizes. From corporate investors with expansive business portfolios to independent hobbyists with a handful of properties, there is no definitive archetype for what a property owner looks like. Layer on specializations in location and asset class, and finding owners to get in contact with can seem daunting.
Challenges aside, relationship-building in commercial real estate is critical. To help you reach the right owners and make meaningful connections over time, we’re going to explore the following:
- Finding Owner Contact Information Using Reonomy
- Building a Leads List
- Contacting Property Owners and Fostering Relationships
Connect with Conviction: How to Contact Property Owners
Technology can optimize your entire outreach process for better outcomes. Here’s how…
Finding Property Owner Contact Information Using Reonomy
Before reaching out, you need to source for contacts. Thankfully, robust property data and technology makes it easy to do so.
To simplify your property owner search, Reonomy allows you to run granular searches on 54 million properties across the nation. Using filters on location, asset type, sales history, debt history, lot size, and ownership information, you can customize your search to your preferences to help guide your property owner hunt.
Search by Location
Using geographic filters in the Reonomy platform, find commercial property owners across the nation by state, city, county, zip code, or Opportunity Zone.
For example, maybe you’re only interested in property in Texas. Reonomy allows you to search over 4 million commercial properties in the state to find owner information. You can refine this even further by additional geographic filters, asset type, building characteristics, and sales/debt history.
Search by Asset Type
You can also uncover owner information by searching by asset type. Whether you’re interested in office space or vacant land, Reonomy allows you to tailor your search based on various different asset types to narrow your owner search.
Search by Sales & Debt History
If you’re an investor or developer, you’re likely looking for property owners who are interested in selling soon. Reonomy allows you to search by specific sales and debt characteristics, such as Most recent sale date and Maturity date to narrow down your search.
Let’s go back to our original Texas example. Say you’re a debt broker in the Houston area looking for refinancing opportunities. To look for owners who may need to refinance, you can search using origination dates. Typically, loans in need of refinancing originated in the past 5-7 years. Under the Debt tab, you would simply select “in” under the mortgage origination tab then select “Mortgage origination in the past 5-7 years” from the drop-down menu.
From there, you’ll be served up all the properties with origination dates in those timelines, enabling you to handpick the properties you want to explore further.
After you’ve found the properties you’re interested in, it’s time to find their owners and corresponding contact information. Reonomy TrueOwner enables you to find contact information easily, eliminating searching through public records and physical files.
In each property profile, you have the ability to unlock ownership information with the click of a button. In doing so, you gain access to the property owner’s name and any associated mailing addresses, email addresses, and phone numbers.
Property Owner Lookup
If you already know the name of the owner you’d like to see properties associated with, conduct a property owner lookup. This serves up the associated contact information, as well as the entire owner portfolio
To run a property owner lookup, simply search via the owner information you already have. This can be done using either the name of the individual owner, the LLC, or the mailing address. From there, access and explore the different properties they own to make to better personalize your pitch.
Pierce the LLC
Oftentimes, properties will be listed under an LLC (Limited Liability Company) rather than an individual owner name. LLCs are entities that protect owners, either individual or multiple, from legal liability.
In commercial real estate, it’s imperative to find a decision maker’s information. Reonomy allows you to “pierce” the LLC to uncover individual owner names and their corresponding contact information, like phone numbers and email addresses.
From there, you can search by LLC name, or owner name, to see any additional properties associated with that LLC. Combined, this information prepares you for more meaningful conversations with your prospect.
Building a Leads List
Take the next step in streamlining your prospecting strategy and create organized lead lists with respective contact information to guide your outreach.
Once you’ve run a tailored search for the property owners you want to target, Reonomy allows you to either export a leads list using all your search results, or only the ones you’ve labeled. Labeling tools enable you to save specific properties from a search to include in your report.
To label an individual property, click the link that reads Add Label +. You can also label properties in bulk by clicking the More drop-down in your list of results, then choosing Label.
You can then export this leads list by visiting the My Properties tab within the Reonomy platform. Here, simply select the group of properties you’d like to export and export the list.
Now that you’ve created a list of viable leads you’d like to contact, it’s time to reach out.
Depending on your end goal, this may look different across scenarios. For instance, an investor contacting an established owner who might not be looking to sell immediately will foster that relationship differently than a storm chaser looking for work directly after a natural disaster. Be cognizant of the methods you choose and the cadence you reach out in to ensure they align with your end goal. Below are a few options to consider…
One of the most traditional sales methods, cold calling is the solicitation of business with no prior contact or relationship. Despite challenges posed from new digital sales methods, cold calling is still a valuable technique that can yield fast results.
Use technology to streamline and scale your call cadence. By exporting your list of leads into a CSV file, you can structure your approach and build momentum as your calls progress. If you utilize a CRM, you can simply import your lists to make outreach even easier.
Tailoring Your Pitch
When you’re on the phone with a potential new client or business partner, it’s essential to personalize your pitch. Knowing your audience before the call prepares you for better conversations and enables you to create value for your listener. Thankfully, Reonomy’s rich property data and ownership information make this easy.
Prior to making a call, conduct research and outline talking points around your prospect’s property. This can vary from specific building characteristics, like the year built or zoning info, or sales and debt history, like an upcoming mortgage maturation date. Familiarizing yourself with a client’s property proves you’ve taken the time to perform quality research and are an overall more reliable source.
Having this information on hand during the time of the call will also guide you through a stronger conversation. Say you’re a commercial roofer looking to sell your services to a prospect with five different units. Having each property’s information at the time of the call allows you to fully understand the depth and breadth of the project and make more insightful decisions when speaking with your potential client.
Overall, the more information you have on a prospect before reaching out, the more customized you can tailor your conversation.
Connecting with Email
With more than 2.5 billion email users worldwide, email is clearly a popular channel of communication. From the introduction to conducting business transactions, email provides a convenient channel for communicating with property owners.
Especially if cold-calling isn’t for you, consider reaching out to your contacts via email. Using the email addresses you unlocked when sourcing for prospects on Reonomy, connect with property owners to get the conversation started. Unsure of what to include in your introduction email? Like in cold calling, bolster your introduction email with talking points from the information you’ve sourced. Explicitly describing property details shows you’ve done your homework and are prepared to work with your prospect.
Since you’re not speaking to someone directly over the phone or face-to-face, you need to give your property owner a reason to email you back. When creating your introduction email, explain how you can help them and why you want to work with them. Show off your value prop and give your property owners a reason to email you back. Additionally, follow up. If your contact hasn’t responded in a few days, to send an email to follow up and ensure your last message doesn’t fall through the cracks.
Maybe a property owner isn’t ready to buy or sell just yet–that’s okay. Creating and deploying creative marketing campaigns can foster brand awareness and warm leads so when they are ready to take action, your brand is top of mind.
Email marketing, specifically, is an easy way to stay in touch with prospects for potential future business. So much so that 59 percent of marketers agree email is their best source of revenue generation. Why should you implement an email marketing strategy to engage with property owners? It’s a cost-effective way to communicate directly with a robust contact list and engage with leads.
In conjunction with a powerful CRM, leverage the email addresses you source from Reonomy to create targeted campaigns to your pool of property owners.
Create Targeted Campaigns
Using the lists you’ve imported into your CRM, create and deploy targeted marketing campaigns to the owners you want to keep warm. Not sure how to best segment your lists for distribution? Consider these options in building your campaigns based on audience:
- Location: Is there a group of owners in a particular region, state, or city you’re trying to connect with? If you’re working with a widespread list of contacts, organizing them geographically can be an excellent place to start.
- Asset Type: The language you use to speak to vacant land owners in Montana will most likely look different than multifamily unit owners in urban Chicago. Segmenting your list via asset type can help streamline personalized messaging to better connect with asset-specific owners.
- Buyer vs. Seller: Just like the aforementioned example, you would use different language depending on whether you’re speaking to a buyer or seller. Use these criteria to build out lists for enhanced personalization.
Direct Mail Collateral
In an era where digital marketing leads the charge, direct mail marketing tends to slip under the radar. When strategically deployed though, letters, flyer, and postcards can be lucrative in boosting brand awareness and creating new business.
Similar to with email marketing, Reonomy allows you to export lead lists and mailing addresses to empower your direct mail marketing strategy. By identifying your target with the correct information, you’re empowered to send creative and engaging pieces of content to promote your business and keep your brand top of mind when owners are ready to take action.
You don’t need to be a professional graphic designer to create professional looking brochures and postcards for deployment. Below are a few content creation tools to help you make your next successful mailer.
Canva makes graphic design simple. Think: the Adobe suite, without the complexities.
With various flyer, postcard, and brochure templates to choose from, Canva allows users to design, download and print their piece of collateral within a single application. Drag-and-drop features make it easy to customize any piece to your liking for brand consistency.
Similar to Canva, Vengage is a design platform that makes it easy to create direct mail collateral without professional graphic design experience. With hundreds of templates, icons, colors and fonts to choose from, Vengage allows you to give your content a personal touch. When you’re finished, you can download and print out your piece for distribution, or share on social across mediums.
From brochures and business cards to letterheads and newsletters, Lucidpress describes themselves as “an online brochure maker for everyone.” Peruse and edit their selection of basic templates, or upgrade for premium designs for as little as $5.95/month.
However you decide to reach out to property owners, Reonomy can help along the way. Try your free trial today, here.