The spread of COVID-19 has caused most of the world to go on lockdown, putting many things on hold – or at the very least, slowing the pace that we’re used to moving at. Businesses in almost any industry will find that there are complications in their way during this difficult time, and those working in real estate are likely to notice that it’s no different for them.
One benefit is that investors, brokers, and virtually anyone in this field of business are still able to carry out their work despite the issues the world is currently facing. Since we are all experiencing hard times right now, it’s important for those trying to push through to adapt and discover the best methods for them to hunt down and purchase new properties. Now is the ideal time for you to start optimizing your systems and getting together a lead generation system that will deliver the best off-market opportunities directly to you.
Many of those who are looking to make a living despite the pandemic are turning to off-market deals because these deals can be incredibly lucrative and tend to be far less hassle. Generally, when the industry is down for any reason, it can be an excellent way to discover potential investments that you wouldn’t see otherwise. For Commercial Real Estate, many gems are to be found in the off-market. In this article, we will go through everything you need to know about maximizing off-market opportunities that are available in commercial real estate.
What Are Off-Market Properties?
Most would assume that the best method to find good real estate is to look at what’s being advertised, either by searching online or getting in contact with your network. While there’s nothing wrong with sticking to more common routes (and while you could certainly get a good deal this way), you may discover that looking outside the advertised listings can be a great idea. Often the best deals are found behind closed doors and through lead generation. These off-market properties are found through people who are open to the idea of selling, but do not have the time, urgency or thought to place their assets on the market yet. Therefore, it is worthwhile to actively seek out these off-market deals through a sophisticated lead generation system that brings them to you.
Additionally, many prime commercial properties will never enter the market.
“The truth is that most commercial real estate deals are off-market, especially if you’re talking about higher-end deals. Sellers are experienced real estate investors, and they aren’t interested in entertaining every Tom Dick and Harry, who has an interest in their property.” (WoodNetLease) This highlights the importance of making the most out of these deals.
Typically, these types of deals can benefit both sellers and buyers in several ways without the building being advertised for sale publicly – and this is one of the main reasons why these transactions can be a great opportunity for investors during uncertain climates. Additionally, “Off-market properties sell for almost 10% less than cooperative deals”. (SVNMiller) A few of the main advantages include:
- It typically offers more privacy for both the seller and the buyer.
- Sellers are not in a hurry which leaves more room for negotiation.
- Tend to deal with more sophisticated people.
- Usually fewer people involved in the deal which means a smoother sale.
- Higher Potential ROI’s on Offer.
How To Find Off-Market Commercial Real Estate
There are a variety of ways of finding off-market deals, and technology has made it easier than ever to locate them. 1PropertyMarket.com is an excellent website that allows individuals to source off-market commercial real estate, and there are many deals to be found. The site allows your business to generate pre-qualified leads, which can mean you pick up the best deals that have high ROI potential. You will be able to contact property owners who are not in a huge hurry to sell their assets and have therefore not listed them on the market. Usually, this means there will be less to no competition, and you can also expect a more stress-free experience.
There are many benefits to using 1PropertyMarket (1PM) to find these coveted off-market deals. As well as securing leads, 1PM provides an entire system for you that runs with many automation tools. This allows you to deal with the stuff that really matters while letting technology take care of the mundane aspects.
The excellent off-market lead generation system brings together pre-qualified sellers, buyers, and tenants. It also includes software that comes with an array of marketing tools, and an easy to use CRM system. This will allow you to easily track progress and stay on top of these deals. You will be able to spot metrics such as deal value, deal commission, and also your all-important conversion rate. It is easy to track and engage with these metrics, which means you can control your workflow with ease. You can find premium leads with ease based on your territory, and you can also start building up your own exclusive network.
Moreover, you can benefit from proven conversion technology that will help you close these all-important deals. You can expect relatively high conversion rates for the industry when you take advantage of the tools on offer at 1PropertyMarket. The turn-key solution means you can quickly implement this into your current setup. Simply sign up, log in, and start receiving high-quality leads.
While 1PropertyMarket makes finding off-market leads a breeze, another alternative method is to use data sites like Reonomy and zip codes and filter through search results. While this can be very time consuming, it provides you a more hands-on approach to finding these solutions. The tradeoff in using 1PM over manual hunting is scalability, ease of opportunity procurement, saves time on mundane tasks, so you can spend more time focusing on growing your successful branch.
Bridging the Gap Between Off-Market Leads and Efficiency
Overall, there are many benefits to be found through off-market opportunities, and often this is a place where you will find some of the best deals while also being able to negotiate with individuals that are easier to work with. It should be the priority of everyone involved in Commercial Real Estate to use this pandemic as an opportunity to optimize their funnels and build their lead generation systems in a way that allows them to drive through leads efficiently. You should now have a much better understanding of how to make the most of these opportunities, and how a lead generation system can help to seek them out effectively.