How to Develop Your Commercial Real Estate Business in Secondary Markets

2ndary Markets

Last year 60% of CRE Transactions over one million dollars occurred in non-primary markets, according to Globequest. Outdoor community malls are best positioned to make it through - this is their time to shine reports U.S. Today. People are considering moving to less densely populated areas in the pandemic’s wake, according to new data from Harris Poll. This shift is affecting both residential and commercial real estate demand.

Want to extend the reach of your real estate business to non-primary markets? Consider U.S. cities identified by the PWC Emerging trends in RE reported in 2020: Austin, Raleigh-Durham, and Charlotte. Other possibilities from the NAR: Boise City, Idaho, Mission, Texas, Rochester, NY, Winston Salem, North Carolina.  There are many more to choose from across the country,

How to find opportunities out of the big urban centers? First, think about hyper-local marketing. Hyper-local real estate marketing breaks down your marketing and sales activity to the smallest target area or demographic possible. You do this to solidify your brand as the local super-agent. Hyper-local real estate marketing strategies are the natural response to the current state of online real estate. Companies like Zillow and Realtor.com are dominating search engine results for most major cities. The good news is they are not your competition.

Going hyper-local gives you the ability to pinpoint your focus on specific neighborhoods and property types.

CRECo.ai can help a broker in a regional market or a broker in a large market develop business in new, smaller markets, providing the means to identify properties, make contacts, start, and close transactions faster and more easily.

CRECO.ai, at its core, is middleware. We connect data and professional networks. As a Real Estate Broker needing to operate in new markets, you need data on those markets – knowledge and intelligence. Once you identify assets in that market through CRECo.ai, you can then dig more in-depth for more insights at the same time.  Economic growth indicators, property due diligence, zoning, who are the lenders, who are interested in that area—the opportunity to use CRECo.ai to put your finger on the pulse of that market. 

We provide collaborative technology. As one of our partners put it, “CRECo.ai is a hub that empowers commercial real estate companies with the data networking, and marketing tools necessary to identify and close more opportunities faster. In short, CRECo.ai is a hub for commercial real estate data, contacts, and social sharing.”

The first-ever collaborative technology was a luncheon. Brokers went together to lunch AND SHARED THEIR DEALS. They sat across the table and related, “I have these properties at play, and I require investors to do the deals.” 

Since then, CRE Technology has tried to make an online version of this across the table dialogue and exchange. Listing portals, messaging portals, online connectivity. Now with 8000 plus systems in this space, ironically, there is an enormous amount of knowledge being lost. Our middleware solution solves that problem. We offer middleware that contains all the data inflows in as-well-as actionable insight. 

That’s CRECo.ai - we can provide you with insight into new markets, the confidence to operate in those new markets through our single pane of glass. Most of that data comes from partners, data providers, crowdsourced listing platforms, and others. Valuable and unique to us. Because we are competitors to no one, you can bring in your data from wherever you have it. We can normalize and enhance it, make it more actionable and intelligent, enabling you to disseminate that data nationwide.  We also give you access to your network, an advisory technology integration team, and marketing advisory services—all available and reasonably priced via our premium offering with more available á la carte.

Our mission is to drive technology enablement, including marketing for real estate businesses big and small so they can flourish and thrive. To do that, we created something understandable and user friendly. It is contained in a simple to use portal built on property search by asset class, financial status, and location. 

For example, many brokers are now looking at off-market assets - collecting potential properties for sale and then presenting them to their buyers and investors. How do they get there? They become what we call CRE Collaborators. We pull in data from many sources - for example, Prospect Now. They have been around for over ten years. They have a Seller Score accurate for 3 out of 5 commercial properties for sale. If they say it will sell when it hits the market, it sells. Once identified, you can lock some of these properties with listing agreements because you have more knowledge than the competitor throughout the one search and done platform.  How cool would it be to go to your investors and say, “I have 100 properties in North West Georgia that will be up for sale and are rated very favorably?” 

Let’s collaborate on hyper-local non-urban underdeveloped markets!

To get going with CRECo.ai, request a call to review your needs and showcase how we can work together to solve them.

 

Sources:

https://www.globest.com/2020/07/13/forget-big-cities-as-firms-investors-set-sights-on-smaller-markets/?slreturn=20200712194932

https://www.planetizen.com/news/2020/05/109257-poll-one-third-americans-thinking-moving-less-densely-populated-areas

https://www.usatoday.com/story/money/2020/07/14/coronavirus-closings-retail-mall-closures-shopping-changes/5400200002/

https://arbor.com/blog/emerging-commercial-real-estate-trends-uli-pwc-2020/#:~:text=Austin%20rose%20from%20sixth%20place%20to%20first%20place,U.S.%20economy%20and%20real%20estate%20market%20in%202020.

https://www.consumerhomevalue.com/what-are-the-10-hottest-housing-markets-in-2020/

 

Howard Oliver, Vice President Marketing at CRE Collaboratve

 

 

Howard Oliver

Vice President of Marketing

Director, Social Media Marketing Consulting Group 

CRE Collaborative Inc.

e-mail: howard@creco.ai

Phone 203-307-2242

Web: https://www.creco.ai