There are a few ways for you to get free commercial real estate comps that will make it easier for you to target properties that match your investment, selling, or marketing strategy. Of course, some options take a lot more energy and time than others.
Let’s start with the more complicated (although usually free!) ways to find CRE comps. Once you see how much more difficult these options are, take a few minutes to learn about how ProspectNow makes it easier than ever for you to find free commercial real estate comps.
Why Brokers Need Free Commercial Real Estate Comps to Succeed in Today’s Market
Property comparisons have always made it easier for CRE professionals to focus on projects that interest them. The ability to compare real estate closely, however, has become an essential skill. When you know how to compare CREs, you can make informed decisions.
CRE brokers face enormous challenges. Knowing how to find free commercial real estate comps turns some of those challenges into opportunities for growth and financial success.
About 80% of CRE professionals expect revenues to increase in 2022. The big brokerages will have their sights set on making as many deals as possible. Free commercial real estate comps should help smaller brokerage groups, individual brokers, and investors become more competitive.
When you have limited resources, including money and time, you must use them as effectively as possible. Real estate comps will save you time and money so you can target the right properties and owners.
Talk to State and City Authorities to Learn More About Commercial Properties
Before commercial real estate brokers had sophisticated software to help them compare properties, they had to do the hard work in person. That often meant contacting state and city authorities to learn more about things like who owns CRE, how the property’s area is zoned, and the estimated value of a property.
Today, you can do much of this research online. For example, most states have online databases that will let you learn more about who owns a business.
Several hurdles stand in your, though, even with help from websites. In many cases, you need to know the property’s address or the name of the company or person who owns the real estate. You can’t ask your city government to give you a list of commercial real estate options zoned for retail with 500 to 750 square feet of showroom space. Even if they have the ability to filter their databases, they won’t want to spend that much time helping you explore real estate.
Let’s say you happen to find two properties that interest you. You can run into another obstacle when you try to get the owner’s name. If a company owns the CRE, you might only have a list of names connected to the business. At best, expect contact information for the business. The contact info on file doesn’t always go directly to the owner or someone authorized to answer your questions.
Commercial Real Estate Databases
Commercial real estate databases tend to offer more functionality than the databases run by government agencies. Having the option to sort and filter properties by important features should save you time and help you focus on CRE that fits into your portfolio.
Commercial real estate databases can also have their problems. Most of the online databases that offer free commercial real estate comps get poor reviews from users. That’s not particularly surprising. Since the service doesn’t charge for its CRE comps, it doesn’t feel compelled to offer users the latest data. Unfortunately, that means you could get incorrect or outdated information that makes it difficult for you to compare opportunities and reach property owners.
ProspectNow takes a different approach that lets you take advantage of free commercial real estate comps and the features you need to work efficiently.
ProspectNow’s Free Trial Lets You Compare Commercial Real Estate Without the Hassle
What makes ProspectNow different from other online CRE databases that offer free commercial real estate comps?
Some of the reasons it makes sense to choose ProspectNow include its:
- Vast database of more than 42 million commercial properties.
- Accurate contact information for people authorized to make decisions.
- Filters that help you find all of the properties in your area that meet your current interests.
- A lead-generation tool that helps you compare properties and create a list of leads to contact.
- Predictive analytics that uses machine learning and artificial intelligence to determine which properties will likely go on the market within 12 months.
ProspectNow’s predictive analytics tool stands out as one of the most popular reasons people choose the platform. The algorithm mines information from the ProspectNow database and public documents to find CRE trends in your area. This way, you can reach out to the owners of off-market properties. Start developing a relationship with them now so they will turn to you when they decide to sell.
With ProspectNow’s two-week trial, you can find free commercial real estate comps for 14 days. Once your free trial ends, you can decide whether to become a member. Even after joining, you pay one of the lowest prices to access some of the most accurate data in the industry.
Start Your ProspectNow Trial for Free Commercial Real Estate Comps
ProspectNow has been around for over a decade (since 2008). The data that users can get from ProspectNow are a lot more expensive on competing platforms. By using ProspectNow, users will close more deals, and, therefore, make more money! ProspectNow is a vital tool for their business success in real estate and real estate marketing. Additionally, ProspectNow is trustworthy and easy to do business with, and a provider of reliable data.
Start your free trial with ProspectNow today so you can discover how easy comparing commercial real estate options becomes when you have a tool built to help you succeed!