With any sales job, there comes a time when cold calling is necessary to increase your success rate and a career in real estate is no exception. As a new real estate agent, you will be responsible for your own lead generation. Though it may be a more traditional sales method, cold calling has been proven effective if done correctly.
Why cold call?
For new real estate agents, in particular, building a client base is imperative for your business… but where do you begin? It can be overwhelming to start, but that’s where cold calling comes in. Cold calling gives you the opportunity to speak to new people and generate leads quickly. Like pursuing anything new, there is a learning curve when it comes to cold calling and it can be discouraging at first.
To overcome the dejected mentality that can occur when cold calling, there are a few things you can do to remain positive and determined.
Set daily expectations for yourself
The most effective way to succeed at anything is to set a clear, measurable goal for yourself. An easy way to do this with cold calling in real estate is to work backwards. Decide how much you want to make in a year, how many houses you need to sell to get there and learn what your success rate is as you make cold calls.
For instance, you may discover that making 50 calls a week leads to setting three meetings with potential clients. From those three meetings, only one may become a real client so you need to decide what those numbers look like for you to meet your personal goals. Setting daily, targeted expectations for yourself will help you accomplish your main goal.
Make a schedule and stick to it
Intentionality is key when it comes to scheduling your calls. Think through your prospects’ schedules and when would be the best time to call. Would it be best to call during their work day or while they’re taking their lunch break? Do they have weekly meetings at work you need to plan around? As you plan your week out, take time to create a detailed call schedule to keep yourself on track with your goals.
Know your audience
On a Monday, make a list of all the prospects you are planning to call that week. This list should include the potential client’s name, phone number, place of work, and any other relevant details. You can never be over prepared when it comes to talking to a possible client. They will appreciate the time and effort you’ve put into preparing for the call or meeting.
Another way to prepare for a cold call is writing a general script to follow. This can be written on a piece of paper or typed on the computer. Either way, as you first begin cold calling, it will be beneficial to have an outline or script in front of you so you can best communicate your message. The more calls you make, the easier it will become. Practice makes perfect when it comes to cold calling in real estate.
What is your next step?
If you’re new to cold calling, you may be feeling disheartened and defeated. It’s normal to hear “no” when cold calling or undertaking any new business venture, but don’t give up! Cold calling and marketing yourself becomes effortless overtime.
If you are struggling as a new real estate agent and need help branding and marketing yourself, we have Post Licensing courses designed for people just like you! Give us a call at (574) 551-0316 or visit the contact page to learn more about our programs.