Data has become increasingly critical to success in the commercial real estate market over the last couple of decades. Trends toward digital transformation—adopting digital tools that can collect information and automate some tasks instead of burdening workers—have made data more accessible than ever. Improvements in technology have also made it easier for businesses to:
- Make informed decisions
- Identify solutions quickly
- Take strategic approaches instead of relying on gut instincts
- Access more resources
- Get stronger returns from investments
Data collection and analysis serve the commercial real estate market in different ways from other industries. Here are some ways data contributes to real estate success, and why ProspectNow is your ideal source for data access.
Predictive Analytics Helps You Identify Investment Opportunities
How do you know which property owners to approach about purchasing their commercial real estate? You can send brochures, emails, and letters to as many business owners as possible. That approach costs a lot of money and doesn’t guarantee any results. You could spend thousands of dollars trying to generate leads without closing a single deal.
Predictive analytics uses real-world information to help you focus on properties owned by people likely to sell in the near future. This data process uses information from public documents, industry research, and other sources to pinpoint properties that owners may want to sell.
For example, a property that enters the pre-foreclosure process can cost someone a lot of money. Clearly, the owner isn’t profiting from the investment. Each month adds to their financial burden. With predictive data, you can anticipate their future desire to sell and reach out to them now to make an offer. The owner might not accept your offer immediately—investors often hold out and hope that their situations will change—but your offer lets them know you’re interested. When foreclosure becomes inevitable, they will turn to you.
You can also use predictive analytics to assess factors like empty retail space in an area. A building that has retail spaces open for several consecutive months might want to unload the property as soon as possible. When you show up with an offer, you can seem like the perfect solution to their problem.
ProspectNow uses a proprietary approach to predictive analytics to help you identify opportunities before your competitors do.
Access the Contact Data of Commercial Real Estate Owners
Identifying an opportunity in the commercial real estate market can help you make money. You can only purchase property once you know how to contact the current owner. Unfortunately for real estate investors, most business structures obscure the names and contact information of owners. When you look up a building’s deed, the owner might say Big Jobs Corporation of America. That doesn’t help very much.
ProspectNow has a growing database that includes the key contacts of 30 million companies. You won’t have to wade through public documents or wait for the office of the Secretary of State to give you information about who owns a corporation. With ProspectNow, you gain direct access to the phone numbers, business addresses, and emails of decision-makers.
ProspectNow goes a step further. The platform enables you to send direct mail to the property owners you want to contact. You can customize your mailers to include your name, business information, and logo. Give your communications a professional look so property owners take your offers seriously.
PropertyNow Integrates With Your Existing Systems
PropertyNow doesn’t have to exist outside of your IT system. You can download data to your network or connect to the database through an API. These options put you in charge of listings that include:
- More than 100 million residential properties
- Nearly 40 million commercial properties
- About 24 million properties predicted to sell within the next year
- Nearly 100,000 distressed properties that you can purchase at low prices
ProspectNow integrates easily into your existing tools. Even if you already have a customer relationship management (CRM) solution that you love, you can continue using that tool. You just get the added benefit of ProspectNow’s vast databases and predictive analytics.
Team Access Lets You Explore Nationwide Opportunities
ProspectNow has various accounts designed to meet your needs. As someone in the commercial real estate market, you should consider the Commercial Team Access account. It gives you access to:
- Predictive analytics for likely sellers and refinances
- A market segment analyzer that uses real data to focus on investment opportunities with strong potential
- A nationwide property search that includes residential and commercial real estate
- Corporate and real owner contact information
You also get a dedicated account manager who ensures you take advantage of every benefit ProspectNow’s databases, analytics, and other services offer.
A Return-On-Investment (ROI) Calculator That Gets Results
Not sure whether you should spend money on a ProspectNow account? The ROI Calculator can help you determine whether you would make more money by becoming a ProspectNow member. You get custom results by entering:
- The state and county you plan to focus on
- Your annual marketing budget
- The number of deals you closed last year
- The average amount of your closed deals from last year
The results will compare the status quo with the results ProspectNow users typically see.
For example, the average real estate investor in Jefferson County, Kentucky spending $4,000 per year on marketing to close five deals with an average price of $300,000 can expect sales turnovers to increase from 4.9 to 9.75 percent. Additionally, your marketing expenses would fall by nearly half while you double your number of closed deals. You could go from earning just $36,000 to more than $71,000 by harnessing the power of data through ProspectNow.
Request a Demo to See ProspectNow in Action
Start making informed decisions now by requesting a ProspectNow demo that lets you see how the real estate investment tool works. Once you see how you can get better results while spending less money, you will want to sign up for an account. Get your ProspectNow demo here so you can decide whether you want to join.