In commercial real estate, the pursuit of off-market deals has long been associated with cold calling owners in a given zip code. But according to Dan Mosher, co-founder and CEO of DealGround, an AI-powered commercial real estate intelligence platform, that approach is fundamentally flawed. With approximately 160 million properties in the United States and only a tiny fraction currently listed, nearly every property is technically off-market. "Off-market is any building that’s not currently being listed," Mosher said. "You have about 160 million properties in the United States right now, and the number of properties that are currently being listed is a small, small subset of that. So almost every property is technically off-market."
The sheer scale of off-market inventory makes the traditional "carpet bombing" strategy—calling every owner in a zip code—not only impractical but counterproductive. Mosher warns that going too broad and too generic is off-putting to owners and creates a low probability of success. "We think that carpet bombing approach is not the right approach," he said. "I think that’s the biggest mistake, you go too broad and too generic, and that becomes off-putting to an owner."
Instead, Mosher advocates for a "sniper-like" approach: targeting a specific set of properties based on a buyer’s criteria and reaching out with detailed knowledge about the owner and the property. "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," he said. "We think that’s a much better approach that yields better outcomes."
This targeted method begins with creating filters and search parameters that match a buyer’s needs, whether the user is a principal or a broker. Once a filtered list is built, the conversation with an owner is no longer 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," Mosher explained. "That is not cold outreach. That’s more of a warm lead."
DealGround’s platform is designed to help brokers make this shift by transforming fragmented property, tenant, ownership, and market data into structured, actionable deal intelligence. The company serves the top 15 CRE brokerage firms nationwide. For brokers still relying on volume calling, Mosher’s message is clear: more calls do not necessarily mean more deals. A smaller, better-informed list usually beats a longer, generic one. Brokers interested in seeing how targeted sourcing works can review the process on DealGround’s how it works page.
The implications for the commercial real estate industry are significant. As technology continues to reshape prospecting, brokers who adopt data-driven, targeted strategies may gain a competitive edge, while those who cling to outdated methods risk falling behind. The shift toward precision over volume could lead to more efficient transactions, stronger client relationships, and ultimately, better outcomes for all parties involved.
