blog post

4 quick tips to cut prospecting research time in half

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watch_by_computer-720230-editedIt’s Tuesday morning, and you have a call block for prospecting on your calendar.

You put Outlook on one screen and Excel on the other. You pull up a browser with your CRE data provider of choice, as well as LinkedIn, Twitter, Facebook, and Google—all on individual tabs. Then you scan your contacts to figure out a strategy, filtering in Excel to define your target group. Finally, you pick up your phone and call the first contact in your spreadsheet.

Sound familiar? No wonder you put off prospecting. It can take a lot of time each day to get fully prepared and make connections.

Here are a few quick tips to cut down on your prep and process time as you churn through your calls.

  1. Use a commercial real estate CRM. This technology should be the foundation of your prospecting process (and business as a whole). There’s no way around it—a CRM enables a faster process than Excel ever could. It may take some time to adjust if you haven’t made the switch yet, but a CRM designed for your business centralizes all your data and organizes it for easy action. (See how one broker used it to cut prospecting time in half.)
  2. Keep your contacts segmented in groups. Once the CRM is in place, you can keep your contacts organized in groups, in whatever way makes sense for your business. Categorize each name and company so you can pull lists when you need. It can start simply—think owners, landlords, tenants, investors—or you can get more specific, dividing by industry, expiring leases, loan maturity dates, etc.
  3. Use a map to define your list. Let’s say there’s a new transit-oriented development going up in your market in the next year. You want to call nearby tenants to let them know of the change and how it’s going to affect lease rates. Wouldn’t it be great to look at a map, draw a boundary around the affected area, and get a call list? There are tools for commercial real estate brokers out there that work exactly like that.  
  4. Try one of these conversation starters. Stop racking your brain for the right thing to say. Lead each call with value. Take a look at these conversation starters for ideas to make quick connections with your prospects.

What are your biggest time savers for prep and research? Let us know in the comments!