Whether you’re an established real estate behemoth or on your way to becoming one, you share a common problem. Selling real estate is about finding the right people and talking to them in a trust-building way about what you sell. And, in our data-driven world, your competitors are using every tool at their disposal to find the right folks and close them before you do.
If you could clone yourself, you’d have time to stay up all night sifting through contacts to find that someone who knows that guy who can introduce you to Mr. or Mrs. Big. With a little luck, you’ll connect. And, the real estate buying cycle being what it is, once you begin a conversation with said influencer, there’s the question of keeping their interest over the long haul. In your industry, that equals 15 months on average.
Now, as you know, in commercial real estate (CRE), your competitors are keeping a watchful eye on lease-end dates. Meaning, they are looking at dates perhaps three to four years in advance. They, too, are working hard to build profitable relationships with the very people you want as customers.
Further, to thrive in the dynamic CRE industry, you need to focus on hiring new talent, keeping up with advancements in technology, weathering economic uncertainty, and, conceivably, working with owners and developers to help them reach their sustainability goals. It’s a lot to manage.
Here are some ways that commercial real estate pros attempt to meet these challenges.
The Old Way
To connect with real estate decision makers, you may have to make 10-15 calls to a single organization to find the right person. Sometimes, the CEO can help push the influencer your way. But it differs from firm to firm, as key real estate players may work independently. In addition, to obtain information that’s likely to draw them in, you may be using Google Alerts to find an “excuse” to reach out with something other than a sales pitch. The trouble here is verifying the accuracy and reliability of the information. When your objective is to move quickly and efficiently, there’s a better way.
The New Way
To help real estate professionals find talent, connect with decision makers, and win more deals in less time, the RelSci relationship capital platform goes well beyond a CRM. This platform maps relationships, provides competitive business intelligence, and networking that leverages common connections – even those that may not be on LinkedIn. Further, to ensure accuracy and save you time and trouble, RelSci verifies aggregated data from third-party data vendors and public websites.
In the process, RelSci’s News & Alerts – a free monitoring service – assists you in staying informed and ahead of competitors. It also supplies you with information that may matter to your market, such as news about the rapidly evolving CRE ecosystem. This helps you solve the problem of what to say the next time you follow up.
Learn how RelSci’s platform works for real estate firms
CRE pro tip: To maintain rewarding relationships with current real estate clients, thereby increasing the likelihood that they’ll buy from you again, use RelSci to find out when they’re involved in fundraising, a merger, acquisition, or IPO. This will give you reasons to reach out thoughtfully and make yourself memorable for the right reasons.
We’re all in the process of becoming. Whether you stay at the pinnacle of your real estate game or find yourself lost in the crowd, it all depends on your ability to connect efficiently with those who benefit you. Just as importantly, your success depends on your ability to nurture relationships in a meaningful way.
Leverage RelSci and become the one that makes you the only choice.