Discovering potential clients: Cold calling is a direct sales technique that has a high rate of failure, but also a really high rate of success. If your prospect stays on the line, you have a really high probability of converting them.
Building relationships: Cold calling, more than other methods, gets you a direct window into the mind of your prospect, allowing them to feel heard and also giving you valuable information on how best to serve their needs.
Not getting ignored by qualified prospects: While a cold email or text can be ignored or put aside for a different day, a call requires an immediate response that puts healthy pressure on the prospect to make decisions. Cold calling helps you identify prospects that are on the fence and get them to choose a side to get off (hopefully in your favor).
With those benefits in mind, it’s no wonder cold calling is still alive and well as a sales strategy in the real estate industry.
So, how do you approach a cold calling campaign to increase your chances of success? Let’s look at some strategies behind effective real estate cold calling.
Strategies for effective cold calling
Cold calling is not as simple as picking up the phone, dialing your contact’s number, and sealing the deal. You need a solid foundation before you start. Here are some key strategies to ensure you hit the ground running from your first cold call.
Do your research
It helps to be as prepared as possible before taiwan cp number you start your cold calling crusade. First, gather or purchase a list of leads that live in your dedicated territory. You’ll want to know the names, numbers, and addresses of your prospects at the bare minimum.
It helps to also have some knowledge of the areas your prospect lives in, such as landmarks, local haunts, and common issues people may have in that area.
Set goals
There are two types of goals to set as a cold caller: lag goals and lead goals. Lag goals are focused on results. For example, your lag goal might be to get 1ng with you in the week.
While these are great at helping you to work towards a favorable outcome, it’s only the half of it. Next, you want to set lead goals. Lead goals are the measurable actions that you have complete control over. Getting leads to agree to a meeting is not completely in your control, but asking for a meeting is.
An example of lead goals for real estate cold calling could be “Ask 50 sellers to meet for a property appraisal,” “Make 100 cold calls this week” or “Use a new script on 50% of my calls today.”
You can accomplish lead goals without relying on an outside force (namely your prospect), so they’re great for keeping motivated as you pursue your lag goals.
Use empathy and active listening
Effective cold calls often begin as a friendly conversation. While it’s important to ensure your prospect knows why you’re calling and how you’ll help solve their property problems, you also want to go with the flow of the conversation.