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CRE Prospecting Software for Commercial Services Professionals
Erika Carmichael
If you’re like most sales teams, commercial real estate software, including CRE prospecting tools, probably hasn’t crossed your mind as a lead generation or acquisition tool. This is understandable since these tools have been almost exclusively used by real estate investors, agents, developers, tenants, and lenders over the past two decades.
So why would they be relevant to your sales and marketing efforts today?
Here’s the thing: the industry for CRE prospecting software has changed. There are now two different types of platforms, and if you choose the right one, it can be a goldmine of sales data for commercial services sales.
The right CRE software can fuel your most critical sales activities, like prospecting, lead generation, outreach, and pipeline management, turning data into actionable strategies that drive deals.
And here’s the best part: with today’s “smart tools,” you can generate leads with just four clicks of your “mouse.”
Today’s CRE prospecting tools are so user-friendly—you can even run them from your phone while in the field. This kind of flexibility makes it easier to stay on top of your sales game, no matter where you are.
In this article, we’ll dive into:
- The definition of CRE prospecting tools
- Leveraging CRE tools to boost the sales processes
- The top options in the market
- Choosing the right CRE prospecting solution for your business.
What is Commercial Real Estate (CRE) Prospecting Software?
In the past, CRE solutions like Loopnet were designed primarily to identify, evaluate, and manage real estate opportunities. These tools provide detailed insights into the following:
- Property Values
- Ownership History
- Photos
- Square Footage
- Market trends
- And other insights relevant to buyers, brokers, and lenders.
These tools also include advanced valuation tools that help accurately assess property values by integrating unique data sources.
However, new tools that are game-changers for sales reps selling “into” buildings have entered the market in the last few years.
These solutions use the latest data collection, artificial intelligence (AI), and machine learning (ML) practices to find and qualify leads for you on autopilot.
Imagine a lead generation process that’s this simple:
- Find the Property, Contact, or Account that best suits your products and services—this could be anything from a property address and a First and Last Name to a hospital or airport in your area.
- Look at the “Signals” category to see who’s in-market and ready to buy.
- With just two clicks, use Generative AI trained on your own data and their buying signals to send them a personalized email or draft a phone call script.
- Set up an automated follow-up or reminder, or add to your pipeline.
Platforms like Convex really make it that simple. But enough about us; here are just a few benefits of using the latest CRE solutions for prospecting.
Benefits of Using CRE Prospecting Software
There are a number of major advantages to integrating CRE prospecting software into your commercial services sales operations, including:
- Enhanced Decision-making and Pinpoint Targeting
CRE software gives you access to exact, accurate property-related data that commercial services sales professionals can use to improve decision-making, target pitches depending on particular needs, and find possible clients. For example, thanks to Convex’s Atlas’ access to thorough information on building permits, you can see buildings with older equipment, aging roofs, and outdated utilities like elevators and generators without even visiting the location. - Increased Prospecting Efficiency
As a continuation of the last point, one of CRE prospecting software’s main advantages is its ability to automate the time-consuming elements of prospecting. Nowadays, there is no need to search for prospects manually; the tool can create a list automatically based on your particular ideal customer profile (ICP). This lessens the manual work needed to compile and examine data, freeing you to focus on more strategic projects meant to propel your company ahead. - Data-Driven Insights
The software’s analytics management capabilities allow you to evaluate customer needs based on their building’s details, the needs of the account, or the preferences of the contact. This depth empowers you to tailor sales approaches, outreach messaging, and solutions based on solid, accurate data- ensuring that your decisions are not just reactive but backed by a clear understanding of customers’ needs. - Improved Collaboration
Effective sales operations require input from at least two, if not three, main teams within a company:
- The Executive Team/ Management Team: Creating Goals and Quarterly Objectives and Approving Resources, Pricing, and Tools.
- Marketing Team/ Business Development: Creating assets, sales presentations, prospecting, generating leads, and driving the inbound marketing strategy.
- Sales Team: Driving outbound sales activities and finding and closing deals.
Overall, company operation depends on good cooperation and communication across the organization. To ensure that everyone is on the same page and working towards the same objectives, CRE prospecting software enables you to effortlessly share insightful data with your team, suppliers, clients, or stakeholders. This results in more coherent plans and improved general outcomes.
Top 3 CRE Prospecting Software Solutions
Every business has its own needs. That’s why getting your hands on the right software is essential. Here are some of the top CRE prospecting software solutions to help you succeed in the commercial services sector.
Convex
Unlike traditional CRE platforms, Convex is a dedicated prospecting and sales platform for individuals selling to commercial property owners, managers, and tenants. Instead of offering data points for real estate buyers and brokers (e.g., valuations, due diligence), Convex zeroes in on the data commercial services sales reps need to find and close deals.
Here’s how it works:
- Find the Best Fit: Open Atlas, our property intelligence tool, to locate the property, contact, or account that aligns with your products and services—whether it’s a specific address, an individual, or an entity like a hospital or airport in your area.
- Check Market Signals: Use the Signal tool to identify buyer intent data, showing who is in-market and ready to buy.
- Outreach Efficiently: With just two clicks, leverage Generative AI trained on comprehensive data, including property, account, and contact details and insights about your company. This ensures your messages are highly personalized and relevant, making them more impactful.
- Automate Follow-Ups: Set up automated follow-ups or reminders or add the prospect to your pipeline for continuous engagement.
Atlas and Engage are key Convex tools critical for sales success. Atlas excels in managing territories, gathering lead data, and collecting property information, while Engage enhances outreach, personalization, and client relationship management—ensuring successful field operations, sales management, and strategic planning.
- Value Proposition: Convex isn’t just another CRE platform; it’s a comprehensive prospecting and sales tool designed for commercial service providers. Atlas helps visualize and manage sales opportunities, enabling targeted efforts in high-potential areas and optimizing route planning and field operations.
- Target Market: Commercial services sales representatives, franchisors, and business owners who need a specialized tool to accelerate sales.
- Unique Selling Point: Convex’s focus as a CRE prospecting platform sets it apart from traditional CRE platforms, making it the perfect fit for sales teams.
Reonomy
Reonomy focuses on providing comprehensive data on more than 50 million commercial properties in the United States. It includes detailed information about ownership, sales history, financial data, and market trends.
- Value Proposition: The platform’s advanced search capabilities and detailed financial histories help users identify and evaluate potential business locations, making it easier to improve decision making on property acquisitions or expansions.
- Target Market: Real estate professionals involved in due diligence, market research, or strategic expansion.
- Unique Selling Point: Reonomy’s ability to provide deep, detailed data on a vast number of properties across the U.S. sets it apart, particularly in terms of ownership and financial history. This makes it an ideal tool for those who need to conduct in-depth property analyses as part of their strategic planning.
CoStar
CoStar offers property databases and analytics on verified property listings, ownership details, market analytics reports, listings, and competitor information. This makes it a valuable resource for businesses that need in-depth, reliable data to guide their expansion efforts or market analysis.
- Value Proposition: The platform’s detailed property data and advanced analytics allow users to conduct thorough market analyses, compare potential locations, and understand competitive landscapes, making it a critical tool for strategic decision-making.
- Target Market: Businesses that require detailed, accurate property data and comprehensive market analytics to inform decisions on expansion, site selection, or competitive positioning.
- Unique Selling Point: CoStar’s analytical tools make it an essential resource for professionals conducting detailed market assessments. Its ability to provide verified and current property information ensures that users can rely on the data for critical business decisions.
Among all the leading CRE prospecting software options, Convex stands out by erring on the side of sales intelligence and being the only platform specifically designed to meet the unique needs of commercial services sales reps. While other platforms focus on property-related data alone, Convex provides the tools to identify and convert leads in just a few clicks.
Evaluating CRE Prospecting Software with Property Intelligence
Choosing the right CRE prospecting software for your commercial services business is a major decision that can shape your operations. To find the perfect fit, it’s important to think about a few factors:
- Data Accuracy
Accurate and reliable data is the backbone of any good CRE prospecting software. In the commercial services world, where decisions about where to set up shop, when to enter a market, or how to stay ahead of competitors can make or break your bottom line, having up-to-date and precise data is absolutely key to reaching the right person, at the right time, with the right solution. - User Experience
Software usability is as vital as data quality. A well-designed user interface makes it easy for users to discover the information they need without any complications, boosting team productivity and enhancing team morale. - Customization and Integration
Every business has its own way of doing things, so it’s beneficial to have software that can be tailored to your needs. Look for tools that let you customize search parameters, reports, and dashboards to fit your workflow.
It’s also important to make sure the software can easily sync with your current CRM system. Smooth integration reduces the time and effort needed to train your team on the new tool. This allows your team to use it right away, leading to faster outcomes and less disturbance to daily operations. - Reporting and Analytics
The real power of CRE prospecting software is how it turns raw data into actionable insights. With solid reporting and analytics, you can easily keep an eye on what matters, spot patterns, and create data-driven decisions.
For instance, Convex gives you access to building permit information from both public and private sources. This complete transparency would help your sales team understand exactly what property owners, managers, or tenants might be looking for. - Customer Support & Training
Installing new software is difficult, so good customer service is crucial. Choose software with extensive training, simple user instructions, and responsive customer care.
Implementation and Best Practices
You’ve found the perfect CRE prospecting software—great! What’s next? It’s time to make sure it works seamlessly within your business. Implementing it carefully will help you maximize its potential and integrate it into your routine.
Here’s how to get started:
Develop a Clear Plan
Before diving in, take some time to create a detailed plan for implementing the software. Think about what you want to achieve, such as finding better locations, improving market analysis, or smoothing your operations.
Set a timeline for reaching those goals. Break down the process into critical milestones, assign tasks to the right people, and set realistic, flexible, and manageable deadlines.
Monitor Performance
After installing the software, monitor its performance to guarantee confidence that it’s meeting your business needs. Check important metrics like data accuracy and how it’s affecting your decision-making processes.
Continuous Improvement
The business world is always on the move, and the way you use CRE prospecting software should keep up with these changes. It’s a good idea to regularly check in on how you’re using the software and see if some new features or updates could make it even more helpful for your business.
Maximizing ROI with CRE Prospecting Software
To really get the most out of your CRE prospecting software, it’s crucial to focus on strategies that will give you the best return on your investment. Here’s how to make sure you’re getting the most out of your software:
Use Analytics Wisely
One of the strongest assets of your CRE prospecting software is its data. Make it a habit to dive into the data—look at permit data, market trends, lead scores, and what your competitors are up to. This information can give you a solid foundation for making smarter business decisions.
Streamline Workflows
Connecting your business systems is vital for making everything run smoothly and efficiently and identifying bottlenecks.
Integrating a prospecting program with your CRM, accounting tools, and other important systems reduces repetitive chores and manual data entry and ensures all tools work together. It’s all about making your day-to-day operations seamless so you can focus on what matters.
Continuous Review
To keep your CRE prospecting software working at its best, it’s a good idea to regularly explore how well it’s performing and whether it still fits with your business goals. As your business grows or market conditions change, you might need to tweak how you’re using specific features, try out new tools, or adjust your workflows to stay on track.
Conclusion
Imagine having a tool that doesn’t just help you find prospects but actually helps scale your business, streamlining sales and accelerating revenue. That’s what the right prospecting software can do. It’s not just about working harder; it’s about working smarter, getting more out of your efforts, and setting yourself up for lasting success.
If you want to level up your sales strategy, Convex might be just what you’re looking for. It helps identify the best prospects, simplifies outreach, and closes more deals. Schedule a demo today to see how a little extra focus on the right prospects can make a big difference for your business!