Economic and workplace changes have significantly influenced the commercial real estate sector since 2020. The rapid shifts have made it more important than ever for real estate professionals to choose commercial database products that assist their property searches. By harnessing the power of technology, you could spend less time choosing which property owners to contact. In return, you will increase revenues and return on investment (ROI) without working more hours.
Commercial Database Products Identify Off-Market Properties
At the beginning of 2021, J.P. Morgan reported that 41% of business leaders expected that most of their employees would return to in-office work by July 2021.
It’s difficult to determine whether that prediction came true. According to Gallup, whether people continue working remotely largely depends on their positions. In April 2020, 83% of white-collar employees worked remotely. A year later, 72% still logged hours from home or remote offices. Blue-collar workers experienced a very different situation. In April 2020, about 20% of them worked remotely. By April 2021, only 14% performed tasks remotely.
Trends like these may help explain why industrial properties have increased in value while office spaces have fallen slightly. Clearly, it takes a lot of experience to determine how commercial real estate trends will evolve. Even the experts make mistakes. However, commercial database products with built-in artificial intelligence can make it possible for real estate professionals to target potential opportunities. You don’t need backing from a giant corporation to predict which properties will sell.
The best commercial database products can help reveal real estate trends so you can contact current owners before they put their properties on the market. ProspectNow uses artificial intelligence (AI) and machine learning to determine which commercial properties will likely get listed over the next 12 months.
For example, a property owner that misses a loan payment might start thinking about whether they can afford to retain ownership. If they make money by leasing office space to businesses, they could struggle to find revenue as more companies continue their remote-work strategies. Without a reliable source of revenue, the owner might want to sell the property to avoid losing more money or damaging their financial reputation.
ProspectNow can highlight this type of property in your area so you can contact the owner to make a deal that benefits both parties. They get to avoid financial losses and you get to buy commercial real estate at below-market prices.
ProspectNow also uses AI, machine learning, and publicly available information to help real estate agents and investors target pre-foreclosure homes so they can approach owners before they default. If you’re interested in exploring residential real estate opportunities, ProspectNow will help you earn a higher return on your investment.
Build Targeted Lists to Improve Your ROI
The best commercial database products need to do more than predict which properties will get listed in the near future. They also need to help you improve your ROI by filtering properties and building targeted lists.
With ProspectNow, you can learn more about a property’s features, zoning, ownership history, tax payments, legal description, liens, and foreclosures. Once you find commercial properties in your area that match your interests, you can filter the results and have the platform generate a list of contacts.
If this sounds complicated, watch this video of a user building a list with ProspectNow. The straightforward user interface makes it easy to build a list of contacts within about one minute. Once you generate your list of high-value leads, you can reach out to the owners. Establishing a connection with each owner will make you an obvious resource for them when they decide to sell. They might not want to let go of the property today, but they could change their minds within the next 12 months. When that happens, you can expect a phone call to talk about their selling or refinancing options.
Accurate Contact Information for Commercial Real Estate Owners
If you have been involved in commercial real estate for very long, you’ve probably encountered a common problem: the contact information listed as the property’s owner directs you to a business rather than a person.
Business addresses, phone numbers, and email addresses don’t always help you contact a decision-maker within organizations. Instead, you end up communicating with a receptionist or assistant without any power to make decisions.
ProspectNow finally solves this issue by giving you the real contact information of people with authority to make important decisions such as whether to sell real estate. Instead of wasting your time sending mailers to corporate offices or waiting on hold, you get direct access to the owner.
The ProspectNow database searches more than 200 million corporate filings to give you information about true owners.
Start Your Free Trial with ProspectNow
ProspectNow started as a tool for some of the countries biggest real estate agencies to identify, engage, and grow prospects efficiently. Today, you can tap into the technology that helps make large agencies successful.
Whether you work independently or manage a small real estate investment agency, ProspectNow’s commercial database has the features you need to increase your revenues and improve your ROI.
ProspectNow has been around for over a decade (since 2008). The data that users can get from ProspectNow is a lot more expensive on other competing platforms. By using ProspectNow, users will close more deals and make more money!
You don’t have to take any risks when trying ProspectNow. Start your free trial today to see how the best commercial database products can improve your property search strategy.