As a commercial real estate broker, consistently dedicating yourself to canvassing real estate is key to your success. Every successful commercial real estate broker has a solid canvassing plan in place to ensure that they always have a steady stream of work, no matter the season. Read on for effective canvassing tips that you can use to secure business all year round.
Canvassing Tips 101: Niche to Source High-Quality Leads
Canvassing real estate successfully starts with acquiring a list of high-quality leads. In the digital era, undertaking research on new leads is far more efficient than it was for the old-school commercial real estate broker. You can use online tools to help you find leads and areas you want to target for your canvassing efforts.
As a broker, picking a niche will supercharge your canvassing techniques. Coworking spaces are an up-and-coming commercial real estate trend that many new brokers are turning to. Alternatively, you might like to focus on the world of retail. Niching down is one of the most effective canvassing tips when it comes to securing business quickly and regularly. Niching down will help streamline your canvassing and marketing efforts and will sharpen your branding. By choosing a niche, you will also help establish yourself as an expert in a particular area – elevating your status in the eyes of your prospects.
You can use tech tools, such as a Reonomy to search off-market and LoopNet to search listings, to help focus your research on a niche market. Using listings platforms, you can search for properties across a number of different markets, including industrial space and office space currently up for sale or lease.
In contrast, Reonomy allows you to search for off-market properties based on asset type. As a commercial real estate broker, you will be up against strong competition as every broker will be targeting the same lucrative leads on the market. This is why we recommend brokers always go beyond the standard listings platforms, which only list current properties for lease or sale on the market. By using tools such as Reonomy, you can source off-market properties hidden from the competition.
You can also use Reonomy to find out more about the property market and promising seller leads for cold canvassing. You can use our platform to run searches based on how long someone has held a property. The longer the property has been held, the more likely they will be to sell.
Hit the Streets for Cold Canvassing
As a broker, one of the best ways to find new listings is by building your connections with local companies and people in your area of business by cold canvassing. Forming personal connections with people will open you up to new clients. It will help you gather information on market demand and opportunity from people in the know.
Meeting prospects face to face helps you to establish a feeling of warmth far more easily than a brochure or email. You can quickly build trust and rapport with prospects by showing a genuine interest in them and their needs, and by providing value.
Use your initial meetings to establish yourself as a friendly and reliable expert, concerned with meeting their needs. In your first encounters, focus on finding more about them and their business. To do this, use open-ended questions that help you find out more about their business, commercial real estate pain points, and how you may be able to help them. For example, you may ask them how their current property is meeting their business needs. If you have any relevant material, such as e-newsletters or blog posts that tackle any issues they mention, provide value by directing them towards your content.
Successful canvassing techniques are all about the follow up. After your initial meeting, continue to nurture relationships with prospects by showing an interest in their business and providing them with value. Take the time to develop a relationship with potential prospects before you offer your services to them. You can keep yourself at the forefront of your prospects minds by continuing to visit them in person, sending them your newsletter regularly, and helping them to address any pain points through email, or in person.
Persistence is Key in Canvassing Real Estate
The commercial real estate market is always rich with potential opportunities. However, the best canvassing tips will be wasted without persistence. The successful canvassing of real estate requires you to weave your chosen canvassing techniques into your daily efforts. Canvassing for new listings requires a persistent approach, to ensure that new business is always just around the corner.
You should set aside time every week to canvas the area. Take a look at your schedule and carve out a set number of hours each week when you can canvas the area you’ve mapped out. Mark your cold canvassing time clearly on your weekly calendar and commit to working the pavement every week to quickly build business in your target neighborhoods.
Fool-Proof Canvassing Techniques
The temperamental commercial real estate market can be mastered by weaving effective canvassing techniques into your weekly schedule. Using our canvassing tips, you can build up a steady stream of work to ensure you have a steady stream of business all year round. You can use Reonomy and online commercial real estate listings sites to help you compile a list of promising leads to transform into listings.
Interested in sourcing new leads for cold canvassing with a free trial of Reonomy? Begin today.