Prospecting with Maps
Once you're confident in your prospecting process, you can start to get a little more creative and strategic. Rely on your tools to help you hone in on a specific area, for instance. Apto Maps was designed to help with just that.
There are many ways to use maps to prospect, but let's start with a scenario in which you just closed a deal. It's a great feeling, right? It represents months, sometimes years, of hard work, and it can do wonders for helping to fuel the next round of deals.
Many of those new deals may be owners within a stone’s throw of your last deal. So what do you do to engage them and share the news about replicating the success of your last deal?
Here’s the scenario:
You built a relationship with the owner of an older Class A office building with ground floor flex space, you’ve qualified their need to sell by understanding their investment strategy and their desire to dispose at the current time, pitched for their business and won an exclusive listing. You executed your marketing plan that involved reaching out to your most qualified buyers and owners of similar properties within close proximity, ended up with multiple offers from highly qualified buyers, and closed at a price higher than the valuation.
You’re now in the hard-earned position of a market expert with relevant market intel that can help owners in similar positions repeat the success you just helped another achieve. Your marketing plan paid off big, your appraisal was spot on and attracted high quality buyers, (many of whom are still in the market), and you know the intricacies of the market and how to successfully navigate them.
This is a noteworthy accomplishment with a high likelihood of creating new business opportunities, and therefore, requires a strategy. Let’s start who you should be contacting by using Apto Maps.
- Start by locating your closed deal and then drawing in your submarket boundary
- Enter your property criteria to pinpoint the comparable properties where your story will resonate most
Once you’ve narrowed your search to properties that are most like the property you just sold, select those whose owners you want to in your call campaign and build a call list. Keep in mind the subtleties of the deal like current use, tenant mix, vacancy, size and adjacent usage.
Name your list to reflect the relationship to your recently closed deal and start calling. For example; 123 Main St Comparable Off-Market Prospects.
Apto’s contact call screen is the perfect place to guide your conversation and record your findings when you talk to your list of owners.
When you interact with the owners, tell them about the recent transaction, highlighting the property and its similarities to theirs. Also inform them about the market conditions and why they represent an opportunity. Along with the host of market metrics, share the subcontext that’s unique to your deal and how that may relate to their property. Things like property condition, tenants, amenities, value-adds, outstanding projects, etc. All of these affect the expected return, so putting in the effort to understand their position and what must be done to prepare them for market will impact the success of them taking their property to market.