Commercial Lead Generation

The great recession has created both opportunities and challanges for commercial real estate lenders. The primary challange is finding funding for new loan requests. The primary opportunities are (1) decreased competition and (2) huge demand for commercial modification services.

Without knowing how to find viable prospects and match them up with proper funding opportunities or the ability to provide commercial workout assistance there is little in the way new income available for industry professionals who remain in the market. 

Commercial Lead Generation is a different animal than residential because you are marketing for a long term relationship client as opposed to someone who needs to refinance their house and then is unlikel to be of value for considerable time thereafter.

Developing new leads for commercial finance and or modification requests takes patience and diligence but not necessarily a great deal of money. Most brokers (mortgage) are conditioned to building or trying to build relationships with realtors to obtain new business but how many of them on the commercial side have considered relationships with Accountants, Financial Advisors, Wealth and Asset Managers and the like.

Networking is the key and diversity in how and with whom you network is critical. The more you develop your network the more consistant your lead generation campaign will be. One good relationship with a decent size accounting firm for example could lead to dozens of opportunities each year. Wealth and Asset managers spend their entire day working with wealthy clients who need all types of assistance including new financing and workout solutions for current properties.

Most of these potential partners are not looking for a piece of the commission. They want to help their client and most of all keep them as a client. The ability to provide value by referring that client to you for commercial finance or workouts with the knowledge that you can and will get the job done has a great deal of value to them. 

This may be a tough market but it is exactly the time to build your network for the recovery because money and solutions are harder to find now therefore potential partners are more receptive in this market as a result. If you can present real solutions and conduct yourself professionally (answer your phone, return emails promptly) you will experience growth in your network at a geometric rate.

The construction of a solid network of industry partners who interact with commercial investors regularly will pay off big in the months and years to come.

Get your act together first.

1. Make sure you setup a method to be reachable by phone. Voicemail is ok once in a while but if they can't reach you they'll go elsewhere
2. Respond to voice mail and emails quickly. The faster you respond the more they will contact you.
3. Setup a well written email describing your services and how they can benefit the partner and his or her clients and keep it consistant. They network as well and you don't want to create confusion by changing your message too often.
4. Put at least 1 hour each day into network development. 90 days from now you'll see huge results.