Marcus and Millichap Cold calling

landbanker's picture
Rank: Monkey | banana points 61

Where do investment sales brokers go to find phone numbers for building owners at places like Marcus & Millichap? Anyone know?

Comments (11)

Mar 14, 2018

Costar, County Tax Assessor, etc

Mar 15, 2018

Are you looking for land owners? Do you sell dirt?

Best Response
Mar 15, 2018

depends on property type, location and where they are in their careers. newbies usually don't have enough money to subscribe to premium services, so they have to do things super manual.

back when i was doing it, we used the county property appraiser sites to get the entity names, then we would use the secretary of state website to get phone numbers that some of the people put on their annual reports. also, i think marcus & millichap generally gives their agents access to some skip-tracing software that allows you to get numbers to call. either lexis-nexis or towerdata. they generally give you the tools you need and any market-specific stuff will be shared by the local office.

there are a few new services out there, but few have national coverage. "piercing the corporate veil" is extremely complicated on a national basis. services like propertyshark or reonomy tend to have very narrow markets. other old-school services like corelogic exist to help at least get past having to use the local property appraisers. they will aggregate that info in one place at least.

recently, i have heard that yardi matrix is doing a great job with multifamily and self-storage. they bought pierce eislen which was always awesome for multifamily and have now added storage. i understand this includes cell phone numbers and emails even. i'm not too sure what their market coverage looks like.

it also depends on size. as the value of the properties go up, you can often search google using the mailing address for the tax bill. that will often lead you to the website of a fund or REIT or whoever may own the property. STNL deals are the exception b/c they will often go directly to the tenant.

small private client type individuals are notoriously difficult to locate. keep in mind, just b/c you have a phone number doesn't mean that it will even work, that they will answer when you call (caller id prevents this for most people) or that you will even know. you could get a voicemail system with no message and just keep leaving messages.

it's not just marcus & millichap guys who do this, really aggressive acquisitions teams will do the same thing, b/c they are often ex-brokers.

    • 2
Mar 15, 2018

@gotmike how would you source off market STNL deals if most lead directly to the tenant? Also, if you don't know how to find, for example, every 7/11 in the country, how would you do it?

Mar 15, 2018

you use the entity name and then go to sec of state for the address, then look up address of the entity on google. the address will either go to a legit company or an individual. if it's a legit company, they will have a website and you start calling from there.

if it's a person's residence, you use lexis-nexis, towerdata, or some other skip-tracing tools to find phone number and start calling.

if you are calling individuals, i think you also have to comply with the do-not-call registry. most of the brokerage houses provide automated tools to help you comply, but realistically few brokers really care.

i don't remember the specifics, but i think it only applies if you are "selling" so if you are just trying to meet with them to give them info, are you selling? i also don't think the do-not-call applies to acquisitions guys b/c they are buying for their own accord. some sort of exclusions or something like that.

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Mar 16, 2018

@gotmike Loving your posts today. Keep 'em coming.

    • 1
Mar 16, 2018

hahaha... thx @The Duke of Wall Street - just trying to help out

Mar 15, 2018

They've used sites such as LandVision and Realquest that provide Property Detail Reports, which display the entity name and/or address of the entity. They then search that name/address within LexisNexis to find all correlated names to that entity. LexisNexis provides current and past addresses and phone numbers, as some brokers still like to mail potential buyers/sellers.

    • 1
Mar 15, 2018

I've used direct mail with a picture included to an address I knew was the principals home address with very high conversion rates to source off-market deals. Really depends on doing the quality research it takes to make sure it goes to the right address using services like Lexis Nexis and CoStar.

Mar 15, 2018

What's the sub-service to find addresses via Lexis-Nexis?

Jul 10, 2018