The Death of the Cold Call: How AI Is Reshaping Off-Market Commercial Real Estate Prospecting

With approximately 160 million properties in the United States and only a tiny fraction currently listed for sale, nearly every commercial property is technically off-market. This vast inventory has long tempted brokers to engage in what DealGround co-founder and CEO Dan Mosher calls a "carpet bombing" approach: pulling a list of owners in a zip code and dialing relentlessly. But according to Mosher, that strategy is fundamentally flawed. "We think that carpet bombing approach is not the right approach. I think that's the biggest mistake, you go too broad and too generic, and that becomes off-putting to an owner, that it creates a low probability of success," he said. The math alone makes the dial-for-dollars method untenable: no broker can have a meaningful conversation with 160 million property owners, and attempting to brute-force the process often backfires by alienating potential sellers.

Instead, Mosher advocates for what he calls a "sniper-like approach," where brokers target a specific set of properties based on actual buyer criteria and detailed owner information. "We really believe in more of a sniper-like approach, whereby you're targeting a specific set of properties because you have a buyer, you have a situation that you can help, and you are targeting owners with great information you have about them. We think that's a much better approach that yields better outcomes," he explained. This shift represents a significant departure from traditional prospecting, where volume often trumped precision. The implication is clear: brokers who continue to rely on generic outreach risk falling behind those who leverage data to identify properties that genuinely fit a buyer's needs.

At the heart of this targeted approach is the creation of specific filters and search parameters. "Off-market sourcing is creating a set of filters and search parameters that fit your specific needs as either a principal or a broker who's looking to find a deal for a buyer," Mosher said. Once such a filtered list exists, the nature of the conversation with an owner transforms. A broker armed with specific knowledge about a property and a real buyer behind them is no longer making a cold call. "When you reach out to that owner, you have a story that is compelling. You know the details about the owner's property. You have a buyer, or you are a buyer, that's got a certain philosophy and a buy box, and that property fits within that philosophy. That is not cold outreach. That's more of a warm lead," Mosher noted. This distinction is crucial: warm leads are far more likely to convert into actual deals, reducing wasted time and increasing broker efficiency.

DealGround, an AI-powered commercial real estate intelligence platform, is positioning itself as the solution for brokers looking to make this transition. The platform transforms fragmented property, tenant, ownership, and market data into structured, actionable deal intelligence. By helping brokers narrow in on the properties and owners most likely to be receptive, DealGround aims to replace guesswork with data-driven decision-making. Brokers interested in seeing how this works in practice can review the process on DealGround's how it works page. The platform serves the top 15 CRE brokerage firms nationwide, signaling that even the largest players are moving away from volume-based strategies.

The broader implication for the commercial real estate industry is that more calls do not necessarily mean more deals. A smaller, better-informed list usually beats a longer, generic one. As Mosher's insights suggest, the future of off-market sourcing lies in precision, not volume. For brokers still relying on cold calling, the takeaway is straightforward: adapt or risk being left behind in an increasingly competitive market where data and targeting are the new currency.