How To Build A Commercial Property Database

One of the most overlooked strategies when it comes to commercial lead generation is using a database. You should create a database of every single commercial property in your city.

This way you know exactly what to look for and targeting new prospects.

Please note: I originally posted this on some Facebook groups and since it got such a good response I will repost this here so you can read it. 

Unlike residential real estate, there is no centralized database of commercial properties available. Most properties are listed across different platforms.

The best way to use a database is to create your own database.

Fortunately, there are several tools you can use to help you create this database.

How To Build A Commercial Property Database

LoopNet

Loopent is an online commercial property directory. There are over 800,000 listings available. It can take a while to comb through the database in your city. But, once you have a list you have a database of properties you can go after.

CoStar

CoStar’s inventory includes over 1.2 million commercial properties. It also promises you to connect you with brokers and owners to investors and lenders.

Unlike Loopnet, you have to pay to use CoStar’s directory. It’s meant to be used for the commercial property investor but you can use this to build your own database.

You can sign up here: http://www.costar.com/products/costar-property-professional

The Blue Book

Is a search engine built exclusively for the construction industry. It connects a lot of the decision makers in the industry and it works well if you want to work with new construction jobs.

There are close to 70,000 corporate/facility and property managers on the site. You will occasionally get a property manager that will submit a bid to you. It’s a great resource and the best part that it is free.

Dodge Reports

Similar to The Blue Book these sites contain a directory of new construction projects in each state.

You have to pay a monthly fee in order to access these directories. The cheapest option is $79/month. Here are two options you can try with Construction and Dodge Reports

Use The Database To Build Relationships

Once you have a database of every building it’s time to reach out to the decision makers and start building relationships. You can do this in several different ways.

Cold Calling

Reach out every property manager and let them know you can fix any leak they have. Show them the benefit of working with your company. One of my clients used to ask for their worst leak. The leak that no one has been able to fix. If he couldn’t fix it, he wouldn’t charge them. If he could fix it he would expect more business from them in the future.

Direct Mail

Direct mail is one of the most effective marketing channels. Once you’ve built your database you can create direct mail campaigns with a call to action letting them know about your services.

The thing to keep in mind with direct mail that it can take a few campaigns to start getting phone calls.

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Associations

The thing to keep in mind is a lot of the times you are going to replace built in relationships with other partners/vendors.

A great way to connect with other GCs, property managers, consultants, and facility managers to join any associations they are a part of.

This is a great way to build relationships with people that can refer you some work.

An Alternative To Building A Database

Use AdWords To Get Them To Come To You

I know many of you use AdWords to get residential leads but did you know it’s just as effective or even more effective on the commercial side?

The best thing about AdWords is that the leads are coming to you. You can get daily calls commercial property owners, facility managers, and property managers. Inbound phone calls have a 1000% higher chance of converting vs. any other type of lead.

If you are using AdWords on the residential side I would highly recommend you start using it for the commercial side too.

Let me know if guys have any questions. I hope this helps!