I've had my best year ever by focusing almost exclusively on property management companies. Think about it - one relationship gives you access to dozens or hundreds of commercial properties. I landed a PM company in Atlanta that manages 45 retail and office properties. Found billing errors on 12 of them in the first pass. They're basically an annuity now because they keep adding properties to their portfolio.
Targeting Property Management Companies
Property managers are great but be prepared for longer sales cycles. The decision maker is usually a VP or director of operations, and they need buy-in from property owners before they can give you access to bills. My average close with PM companies is about 4-5 months from first contact.
How do you identify which PM companies to target? I'm in the Phoenix market and there seem to be hundreds of them.
Start with the largest ones managing commercial properties (not residential). In Phoenix, look at CBRE, JLL, and Cushman Wakefield offices, but also the mid-size regional firms. The nationals are harder to crack because they often have existing audit relationships. The sweet spot is firms managing 20-100 commercial properties - big enough to be worth your time, small enough that they don't already have someone doing this.
I'll add that the pitch to PM companies is different than pitching directly to property owners. For PMs, you're helping them look good to their clients. Frame it as: I help you demonstrate additional value to your property owners by finding utility cost savings they didn't know existed. That resonates way more than you might be getting overcharged.
Great insights here. Property management is probably the single best niche for utility auditors who want to scale. The key advantage Karen mentioned - one relationship, many properties - is the closest thing to passive income this business offers. I'd also suggest attending local BOMA and IREM chapter events to meet PM professionals in person.
BOMA events are exactly where I found my Atlanta contact. Went to two chapter meetings, had business cards ready, and struck up conversations about rising utility costs. Third meeting, the VP of operations approached ME because she remembered our earlier conversation.
What's BOMA and IREM? Sorry, still learning the industry.
BOMA is the Building Owners and Managers Association, IREM is the Institute of Real Estate Management. Both have local chapters that meet monthly. They're goldmines for networking with property managers, facility managers, and building owners. Look up your local chapters and start showing up.