Commercial Multifamily Leads

[Alex Ramirez]

Hi BP community, I wanted to ask you what do you use to get your commercial Multifamily leads besides listsource, agentPro247 and talking to brokers? Listsource and agentPro247 are very limited to big cities and I really want to start marketing in smaller cities but not sure how to get leads besides networking, driving for dollars and talking to brokers? I will really appreciate your advice. I wish you all the best in 2020!

[Greg Dickerson]

Originally posted by @Alex Ramirez:

@Marissa Pesce

thank you very much!

Some of the the best ways to find off market commercial and multifamily properties is to compile lists from city and county websites if available, Reonomy and CoStar or you can use free resources like Loopnet, CREXI, Ten-X commercial, Craigslist, tax database, general networking, brokers, property managers, title companies, environmental consultants, building inspection companies, appraisers, landscapers and other companies that service commercial and multifamily properties and driving for dollars. The key is consistent action and how you approach the owners and then the follow up. You need to be talking to hundreds of sellers these days to develop good deal flow.

You can send letters and email but cold calling is by far the most effective method but you really need to know what you’re doing, how to open the conversation, what questions to ask and more importantly when to listen and not talk. Most importantly you need to convey confidence and assurance you are a player and not just wasting their time. Remember you are building relationships with the owners.

Follow up is crucial and where 90% of investors and sales people fall short. You have to consistently follow up in a meaningful way and you will get deals.

Direct mail can work but cold calling is much more effective for commercial and multifamily. That’s what the brokers do.

That being said the ultimate strategy is direct mail, cold calling and targeted social media all at the same time.

You need to make sure you have a professional website and social media presence with your company info and section about you and your team. They will look you up.

Direct mail campaigns need to be a mix of postcards and professional letters on business letter head. You can send the direct mail first followed by a phone call and then targeted social media campaigns.