Sales reps and brokers are given a bad name for making cold sales dials. Yet, cold calling (including door knocking) has traditionally been used and accepted in the real estate world for years. Cold calling is NOT a bad word — it’s how business has been done and, in some ways, it’s how business is still done!
With new rules and regulations and the Do Not Call List in place, there are ways to get around the dreaded cold call. Be respectful and genuine on each call, always keep personal information that a prospect shares confidential and follow these top tips for getting through the door!
1. Ask for permission
Always ask for permission when calling or emailing a potential prospect. By doing so, you are being both respectful and saving grace.
Sharing neighbourhood information is always of interest to others, whether or not they are in the buying or selling mindset. So, don’t be afraid to develop that conversation. Go into the call with the mindset of “information” and setting the stage for future follow-up, and watch what unfolds! Have a strong CRM tool to track your cold-calling efforts — it’s the lifeline of your business.
When I track my cold calls, I always feel like I have deals coming. I get an idea of what is happening each month and each quarter. It brings comfort to my sales efforts, even if some people ask me to call back a few months later than previously stated.
2. Develop leads from attending 2-3 network groups per week
The idea here is to get to know your audience over time. Listen more than you speak. Learn about them before speaking about yourself. This means developing a relationship with network “regulars”.
Schedule meet and greets via Zoom or face-to-face, to start. See how you can help them in their businesses. Learn about their personal challenges and setbacks too. Are they getting divorced, married or changing jobs? Are their children moving out? What life changes are taking place? Connect these answers with what they need in terms of real estate down the road. Whatever information you learn, add it to your CRM. Again, your leads are the lifeline of your business!
As someone who attended networking meetings for years, it was always easy to spot fake people and those who had a genuine interest in learning more. Networking meetings should not be used as an opportunity to make quick transactions. It’s super easy for people to pitch each other for hours on end. That’s not what they’re meant for.
This often happens and can be very off-putting. Meet and greets via Zoom should be used as discovery meetings — not sales pitches. There is no harm in saying so before agreeing on a date and time.
3. Ask for referrals
Once a deal is done and it goes well, ask for 2-3 referrals. Stay in touch with those individuals. Never force anything or sound desperate. Draw that line.
Business leads to more business, and good experiences lead to more good experiences. So, always service your clients in the best way possible, and remember, there’s still work to do once the sale is over.
After I have a great experience with a client, I always ask if they can refer me to someone else who might need my sales training or lead generation services. It simply sets the stage. Once I do this, I let it go. I don’t harass people for more business. I also stay in touch to see how their business is going. The mere act of staying in touch is enough of a reminder — it’s not necessary to keep asking.
Combine various prospecting efforts in your real estate practice. Be consistent and persistent every single day. Track your efforts. The idea is to turn those cold calls into warm conversations right away! Warm calling is much easier to deal with.
Cold calling is effective and needed to push things along, but the idea is to soften the conversations. Once this happens, the magic unfolds. You’ll learn more that you can apply to future calls.
To learn about our sales training, contact: Nicole@prospect2win.com