Top Strategies for Identifying Upcoming Commercial Projects Before Bidding

This article originally appeared on bignewsnetwork.com

The commercial construction industry, while lucrative, is highly competitive. Contractors, developers, and suppliers often have to bid to get the top contract. As one of the players in this field, you need to look for ways to stand out. On top of using construction bidding websites, you need to find more ways to generate leads. You want to stay ahead of your competition to ensure you have a steady workflow. Read on as this blog shares the top strategies for identifying upcoming commercial projects before bidding.

Build Relationships with Key Industry Stakeholders

Effective networking can assist your company in generating more commercial project leads. You can do this by interacting with different players in this industry. These are people who can share information on upcoming projects.

Attend Industry Networking Events

Participating in industry events like tradeshows, association meetings, and conferences can offer a great chance to network. The idea is to meet with other professionals in the commercial construction industry. You may also interact with the individuals who greenlight major construction projects. Your close connection with these people can give your business an edge. You can learn when to submit your bid for a given project. Besides, some events may involve training on how to draft competitive construction project bids.

So, leverage social media and other online platforms to learn about upcoming industry networking events. Find out beforehand the requirements for attending such events and ensure you meet them.

Partner with Architects and Engineers

Collaborating with the right professionals can help you get insights into upcoming commercial construction projects. That's why you should look for ways to partner with engineers and architects. These specialists are often the first professionals involved in commercial construction projects. They are often approached to determine the viability of a given project. So, even before the project is announced to the public for bidding, these individuals know about it.

Working with them can give you a huge edge as they can alert you of top upcoming construction projects. They can share details that help you know the kind of financing you'll need to handle the project. Besides, they can assist you when drafting your bid to ensure it's competitive, increasing your odds of winning.

Foster Relationships with Developers and Owners

You can get information about new commercial construction projects by working with developers and owners. These are often the people who decide when the project will start. They also evaluate bids and decide who to award the project.

So, you need to work on building your company's image as a trustworthy partner. These people need to know that they can trust your firm to diligently handle the project. So, if you have a website, post information about your past projects. The idea is to showcase you have the capacity to handle large commercial construction projects. Also, request that your past clients post testimonials about your work.

Utilize Construction Bidding Websites and Lead Platforms

Many companies struggle to generate commercial construction leads due to relying solely on traditional means. They rely mainly on getting recommendations from other people to land bids. Unfortunately, this approach is not reliable especially in this digital era.

Give your company an edge by combining different approaches to generate leads. Leverage construction bidding websites and lead platforms. These tools can assist you in gathering data on new and upcoming commercial construction projects.

Subscribe to a Commercial Construction Leads Generation Service

One of the biggest challenges your company might face is generating quality commercial construction leads. You might have to use multiple online tools to find leads. Unfortunately, this approach is tedious, time-consuming and there's no guarantee you'll get positive results.

Simplify things by using a commercial construction leads generation service like

Construct-A-Lead. The idea is to overcome the hassles of searching for the leads yourself. The service makes it easy to generate quality leads quickly. You'll get leads on commercial construction projects that your company can handle. So, there's a high chance of winning the bid for such projects as your company has the experience and resources to oversee them.

Subscribe to Construction Bidding Websites

Your company can gain an edge by taking advantage of the top construction bidding websites. So, compare these websites to determine the features and resources they offer. The plan is to find sites that offer comprehensive databases you can use to search for projects.

Look for easy-to-use websites that allow you to search for commercial construction projects using different things. For example, the option to search using location, status, or type.

Also, if the websites give you the options to receive their newsletters via email sign up for them. The idea is to get updates on your emails of upcoming commercial construction projects.

Track Commercial Real Estate Market Trends

Businesses that stand out in any industry are the ones that are able to forecast things. These businesses often track data on what is currently happening and project the direction things are likely to take. You can do the same by carefully researching the commercial real estate market trends. The idea is to anticipate when investors are likely to initiate large commercial projects. With this information, it can be easy to place competitive bids, boosting your chances of winning.

Track Market Demand and Growth

Paying attention to the growth rate of various locations can help you predict upcoming commercial construction projects. If an area is experiencing a fast population growth, more and more people are likely to buy and build homes. These people will need places to go shopping, eat, learn, and do other recreational activities. So, you're right to anticipate that soon, this area will need retail centers, hospitals, schools, and office buildings. You should keep a close eye on the area to know how to bid for these projects as soon as they're announced.

Besides, while waiting you can be marketing your company and the commercial construction services you offer. The idea is to stand out of a reliable company that can be trusted to deliver top-notch services.

Follow Real Estate Investment Trends

One of the ways investors build wealth is by investing in commercial real estate. Your company should create a list of the top real estate investors in your area. It should pay close attention to the activities of these individuals. If you discover they purchased a piece of land in a prime location, there's a high chance they plan to build a commercial project.

So, you should look for ways to contact them and offer your commercial construction services.

Stay Updated on Industry News and Reports

Accessing timely and credible commercial real estate market information can help your company stand out. So, find the top commercial real estate publications, news outlets, and industry reports. These resources can share insights on upcoming projects. They can provide tips on the latest trends and how to interpret them.

Stay Informed on Municipal Planning and Zoning

Before a commercial construction project can be initiated, it often has to acquire permits from the municipality. The people behind the project have to submit their proposals and wait for approval. The process can be slow and can give your business a window to learn about upcoming commercial construction projects.

Attend Local Planning Meetings

Most municipalities have set regular planning and zoning meetings in which infrastructure projects, zoning alterations, and massive trading facilities are debated. These are normally public meetings or else the minutes are easily available. Take advantage of these meetings to know more about upcoming commercial constructions.

Find out when a given project is scheduled to start and its size. Remember to figure out whether the project is government-funded or under private investors. Accessing this information can help you generate quality leads. Besides, you can utilize it to customize your bid by showcasing the specific things a party funding the project is looking for.

Monitor Building Permits and Zoning Applications

Most of the commercial construction plans for buildings are approved by municipalities through the issuance of building permits that also consider zoning applications. Sometimes, you can track certain projects simply by looking at the permits and applications. You'll get a feel for the kind of projects that are getting approved.

The good news is that most of this information is available to the public. All you need to do is visit your municipal website. Here, you'll find approved permits for upcoming commercial construction projects. Most of these projects are still in the planning phase, and you have a chance to place your bid. So, check the available information to find out more about the companies or people in charge of the project. Contact them to find out when they'll be opening the bidding process and how to place your bid.

Conclusion

Adopting the above strategies can help you find lucrative upcoming commercial projects. So, networks with different stakeholders in the industry to access information. Take advantage of construction bidding websites and lead generation tools to simplify your work. Strive to combine different approaches to find work fast and reduce downtime.