Commercial real estate leads are highly sought after by brokers everywhere, and this is for good reason. Commercial real estate leads are very hard and take a lot of time to generate. Think about how brokers generate leads of tenants & buyers they can represent or to fill vacant listings:
- Cold calling
- Cold emails
- Networking
These things take a lot of time an energy. The average sales appointment rate is 2%. That means that if you want to generate 1 to 2 appointments, you have to make 100 cold calls. The average phone call length is 7.5 minutes. That means that to get these 2 appointments you have to spend almost 12 hours cold calling. That’s a lot of time.
Cold emails to tenant & buyer prospects can be more efficient, but finding email addresses can be just as time consuming as making cold calls.
Networking takes a lot of time too. You spend time driving to the destination to meet networking buddies, spend hours socializing, then spend days and months keeping in touch and asking them if they have any tenants or buyers leads in the market for commercial real estate.
The problem with these commercial real estate lead generation tactics is that it takes too much damn time. The solution is for sure to work smarter, not harder.
So how do you work smarter to generate more commercial real estate leads with less time and effort?