Prospecting Commercial Property

agentinsouth

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I am working on building my commercial property book up. What are some of the most successful prospecting ways you have used to find commercial property clients?
 
Commercial Property is kind of a vague term.

what kind of specific commercial property? retail? warehouses? manufacturing? habitational?

It will vary as will the ways of prospecting them.
 
(crickets....chirping)

That's because almost nobody knows what they are doing with enough degree of certainty to really be of strong help here. You get a lot more "Commercial is tough" and it sounds like Baldwin making fun of sales people in Glenngary Glennross.

Commercial Property is kind of a vague term.

what kind of specific commercial property? retail? warehouses? manufacturing? habitational?

It will vary as will the ways of prospecting them.

Commercial might be vague but since you either go after personal lines or commercial lines, it clears about 50% of the field down.

-Office BOP, Manfufacturing, Construction, there are lots of SIC codes for everything but in general when someone says Commercial and they are checking in here, you kinda know what they are aiming at. At least in these forums.

This thread will die a slow death like every other Commercial thread I searched and pulled up, never a clear path IMO.

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I am working on building my commercial property book up. What are some of the most successful prospecting ways you have used to find commercial property clients?

1. Try Youtube, many of the Carriers have videos with step by step on how to go out and quote Commercial, don't think because it is on Youtube that everyone has seen it because in fact very few have and even fewer take action on the good information they uncover. Most get excited for a minute, daydream about all the money they will make and then go home and watch TV until it's time to go to bed and start over the next day...you get where I'm going here I hope.

2. Type into Google "How to prospect Commercial Insurance" or some variant, that will take you days to sort thru and read it all.

Just start there, you will have a notebook half filled by lunch, Cheers!

:yes:
 
buy a subscription to something like insurancexdate and get work comp renewal dates/mods/etc.

there's a good starting point

your carriers appetite determines which ones to chase
 
1.) Commercial Real Estate Agents

2.) Commercial lenders - All local banks have commercial banks (aka relationship managers..) who finance purchases/refi's.

3.) Commercial Property Managers - They are handling condo associations & larger properties in general. Network w/ them, get in.

4.) Fire Protection Businesses - They service/maintain sprinkler systems for larger commercial properties. Network with them.

5.)

It's not rocket science, it's just beating the streets & building relationships. It's important to understand that in this particular market, you better be an IA with depth b/c you'll get smoked by smaller regionals who specialize in commercial property.

Carriers are weird when it comes to commercial property. Mixed hab is just a sh*t show, but again if you have a regional player who's a whore for mixed hab, you'll write it all day until they get acquired by a larger carrier who will then shed all that mixed hab & you're back at square one just like Amtrust/Tower.
 
That's because almost nobody knows what they are doing with enough degree of certainty to really be of strong help here. You get a lot more "Commercial is tough" and it sounds like Baldwin making fun of sales people in Glenngary Glennross.



Commercial might be vague but since you either go after personal lines or commercial lines, it clears about 50% of the field down.

-Office BOP, Manfufacturing, Construction, there are lots of SIC codes for everything but in general when someone says Commercial and they are checking in here, you kinda know what they are aiming at. At least in these forums.


This thread will die a slow death like every other Commercial thread I searched and pulled up, never a clear path IMO.

----------



1. Try Youtube, many of the Carriers have videos with step by step on how to go out and quote Commercial, don't think because it is on Youtube that everyone has seen it because in fact very few have and even fewer take action on the good information they uncover. Most get excited for a minute, daydream about all the money they will make and then go home and watch TV until it's time to go to bed and start over the next day...you get where I'm going here I hope.

2. Type into Google "How to prospect Commercial Insurance" or some variant, that will take you days to sort thru and read it all.

Just start there, you will have a notebook half filled by lunch, Cheers!

:yes:


Seems like a bad way to approach prospecting.... :goofy::goofy:
 
1.) Commercial Real Estate Agents

2.) Commercial lenders - All local banks have commercial banks (aka relationship managers..) who finance purchases/refi's.

3.) Commercial Property Managers - They are handling condo associations & larger properties in general. Network w/ them, get in.

4.) Fire Protection Businesses - They service/maintain sprinkler systems for larger commercial properties. Network with them.

5.)

It's not rocket science, it's just beating the streets & building relationships. It's important to understand that in this particular market, you better be an IA with depth b/c you'll get smoked by smaller regionals who specialize in commercial property.

Carriers are weird when it comes to commercial property. Mixed hab is just a sh*t show, but again if you have a regional player who's a whore for mixed hab, you'll write it all day until they get acquired by a larger carrier who will then shed all that mixed hab & you're back at square one just like Amtrust/Tower.

What do you mean by mixed hab?
 
^ office 1st floor apartments above.....deli 1st floor apartments above...restaurant 1st floor apart above

habitational is all apartments. Mixed hab throws in other occupanices. In my area these are typically older or converted buildings etc. Huge PITA.
 
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