“I guess now that the secret’s out, we’ll spill the beans. Initially there was just one other CCPI member and me, and I think we may have been the first to start using it. We weren’t really discussing it much.
On a very basic level, it helps with writing proposals. I can include nice photographs of the property and a lot of information about it. When I’m putting together a proposal, there are photos of the property and details like square footage, year built, and other useful information.
During the research phase, before I call for the interview and finalize the proposal, CoStar is always up on my computer helping me put that together.
For Phase I work, there’s information there as well, like parcel numbers and other details. It just makes it easier for the person putting everything together. The contact information is helpful too. When you’re doing the owner interview, sometimes just getting the email or phone number of the person you need to talk to becomes much easier.
But the main reason we started using CoStar was for marketing. I used something called Slide Dial and exported a bunch of phone numbers. It calls them and leaves a voicemail from me that I recorded. They call me back and we start having a conversation, commercial realtors, brokers, and different people.
I’m still working through that process, but email campaigns have also had some success. You send out a few thousand emails and get some responses back. It helps build a following and generate new business by reaching out through phone calls or email campaigns using contact information from CoStar.
At this point, I would say CoStar is probably essential if you’re trying to grow commercial and make it work at a larger scale. It’s an essential tool.
I’ve also got a couple of my senior guys using the CoStar app on their phones. When they’re out on site and maybe there’s a locked utility room or a roof hatch they can’t access, they can pull up contact information for the property manager or owner and make a call. It gives them more information about the property while they’re on site.”
– Jamie Hawks, The Real Estate Company