Cold calling is an art form, and for REALTORS®, picking up the phone can turn you into a millionaire. But you have to know who to call, and how to call them. Luke Acree explains the 3 calling campaigns every agent needs to execute to make more money.
All right guys, so we’re going through this series on cold outreach tactics, and if you remember from the last video I said there was three strategies that I believe as a real estate agent that you can implement to help you generate more return on investment for your business practicing these cold outreach strategies. The first was door-knocking, second cold calling, and third social media. Now in this video I want to dive a little deeper into cold calling.
Now when it comes to cold calling you guys know me I love cold calling. I started on the phones myself in this business I have about 80 people on the phones for me right now, and so I want to give you guys some campaigns that you can run in real estate to generate leads from cold calling, then I want to give you some best tips and practices that you can apply to your business to really help you generate more ROI.
The first campaign in real estate that I would encourage you to run when it comes to cold calling is FSBOs. You need to be calling FSBOs really daily in your business and what I encourage real estate agents is to have at least 50 leads, 50 FSBOs that they’re working at a given time. You can find these leads through Craigslist, through Zillow, through realtor.com, there’s ForSaleByOwner.com. Find the leads, add them to your CRM and call these. Work 50 at a time. Now understand, when you’re facing this campaign that this person really doesn’t want to work with you because they don’t want to give up their commission and they don’t feel that a realtor actually adds any value to the sales process. You need to go into every call prepared to deliver why you believe you can sell this home and the marketing strategy that you’re prepared to implement to get the home sold.
A little tip I would give you is call your FSBOs on Monday. The reason why is because most houses are shown over the weekend so call them on Monday and ask them, “Hey, just wanted to check and see how it was going if you had any interest on your home ? Did you have a lot of traffic this weekend?” The chances are they had no traffic because they didn’t market it. They didn’t probably advertise correctly for their open house and you can touch on this pain point and it will open up the opportunity for you to share your marketing strategy and what you would bring to the table.
Second campaign you can run with cold calling is calling expired listings. So these are gonna come on to the market pretty much every day get on your MLS get a couple expired listings that come off the market add them to your CRM and give them a call. Understand what you’re gonna face when you call these expired listings is an emotional prospect because the reality is as their home did not sell so they just went to the process of trying to sell their home with an agent it didn’t sell so they have a lack of trust and a lack of faith that their home can even be sold. You need to make sure you are crystal clear on why you believe the home did not sell and why you believe you can sell it based upon the marketing that you’re gonna bring to the table, based upon the pricing you should be believe it’s priced at. You have to be prepared as you enter in this call because they’re not gonna trust you, and you need to have a very logical argument to overcome that emotional prospect.
The third campaign that you should be running is really just listed/just solds. So you’re gonna have a listing that comes onto the market this gives you a perfect opportunity to load up the 50 closest to a 100 closest neighbors. You can get their phone numbers by doing WhitePages.com, There’s other services out there. Where you can find their names and numbers, give them a call, because you have the perfect reason. You can let them know of the listing that came onto the market let them know of an open house that’s special for the neighbors, right? But then also let them know that I know a lot of the neighbors are curious to find out what their homes worth would you be interested to find out what your comparative market analysis is?
You can generate leads this way and what I love about just listed/just sold I explained this in the door-knocking video you now have two touch points, and it’s so logical you can call them to invite them to an open house all for them a CMA, but then you can follow up. After you sell that listing and let them know what the listing sold for and that’s gonna give you another chance to solidify that prospect and close them as a client.
So there you have it guys there are three campaigns that you can use in real estate to do cold calling to generate leads for your business. Some best practices that I’ll give you is the number one mistake I see with really sales people it doesn’t matter if your real estate, it could be us is that sales people when it comes to the phone they don’t call enough. The average sales person gives up about 1.2 1.3. Calls. Where it shows HubSpot just came out with a recent survey that said you have to call 18 times to reach a client.
So guys the number one tip I’ll give you is don’t give up after the first call if you call the neighbor and they don’t answer don’t give up circle back around at least give six calls to give you a chance to get that prospect on the phone.
Second tip I’ll give you is I really some summarize it in smile and dial so you got a dial you got to play the numbers game. But you got to go in with an energy and a mindset where you can go from rejection to rejection with a smile and that you can also be prepared to continue on when no one answers. That’s the hardest part about cold calling is a lot of the time, sixty seventy percent of time, they might not answer the phone.
The third and final tip that I’ll give you when it comes to cold calling is you gotta know your scripts. You got to be prepared as you go in to the call have a Fizbo script have an expired listing script be prepared on what you’re gonna say the value proposition that you bring to the table and then when it comes to any good script. I always tell my cold callers that look the actors they don’t win Academy Awards or Oscars from a great script, they win Academy Awards and Oscars by having a great script in infusing their personality into it so you gotta have a great script and you gotta infuse your personality into it.
So there you have it guys there are some overarching campaigns that you can run for cold calling and there are some best tips and practices that you can apply to this business to help you you know grow your business at a 10x level. If you like these tips subscribe to our YouTube channel, definitely comment below, let me know your successes and failures, check us out on Instagram and Facebook, but most importantly—take action on this today!