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PROSPECTING FOR NEW CLIENTS WITH COMPSTAK EXCHANGE
HOW TO PROSPECT FOR NEW BUSINESS USING COMPSTAK EXCHANGE
Today, we will show you how commercial real estate brokers can find new clients using CompStak Exchange. Let us show you how it works!
Imagine you are a commercial real estate broker representing tenants in the financial services industry. Your job is to narrow down the best prospects who might need your services now or in the future. But the challenge is that there are more than 50,000 leases in New York City.
So… how do you do it?
#1 Setting Geolocation
Let’s start with the leases tab of the CompStak interface. We can see the New York City market. All these blue dots within the map represent properties where CompStak has leases. Let’s focus on submarkets within Midtown. Choose the Madison Avenue, Fifth Avenue, Sixth Avenue, and Park Avenue submarkets. With this, we narrow down our target search to 8,500 leases within that area.
#2 Setting Filters: Industry and Expiration
Let’s filter that down further by looking for deals within banks and financial services. Out of these, let’s target leases that are expiring between March 1st, 2021, and August 1st, 2022. Finally, we have been able to get the relevant search results to around 300 leases from the list.
#3 Looking at Comps
Let’s take a closer look at this deal for Integrated Holding Group.
You can see we’ve got the starting rent, the free rent, and the rent schedule. One look, and we know that they’re on the 31st floor. We’ve got information on the building, the landlord, and the tenant. We can see where their headquarters are along with other relevant information on the company. By now, you might be curious to know a little bit more about the property that they’re in. So let’s go to the property report. Here’s the street view of the property and its location.
#4 Reading Property Report
CompStak has close to 100 office leases in this building. And for retail leases here, you can also see which properties are most competitive to this particular property and the market starting rent for each of those properties. This information gives you a really useful context. Now, when you go and pitch this prospect, you can tell them about what’s going on in their building. You can tell them about who has recently signed deals and show them buildings comparable to theirs where rents are similar or higher. Now, you know how quick and easy it is to prospect using CompStak Exchange.
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Cushman & Wakefield