Nope – You do not have to use cold calling to build your business. However, it is one of the cheapest and quickest way to rise to the top of the sales food chain and build your database. If this isn’t your jam – check out some of the other alternatives to lead generate like a pro and our other inexpensive lead generation hacks.
A lot of our strategies can be used across multiple lead generation platforms. It all comes down to adding value to your client.
What is “cold calling”?
Cold calling, in sales, is a term used for calling people you do not know and asking for business. This is a simple definition that can mean a lot of things.
- “For Sale By Owner” you’ve found online or in a drive-by
- Online leads you’re calling for the first time
- Calling from any list where you’re unsure of what awaits on the other side
- For some people – all conversations feel like a “cold call”. If that’s you, read on and get some tips on how to overcome your fears.
There are a lot of ways to get phone numbers to call. Check out resources such as Mojo Dialer or purchase inexpensive call lists. In these cases, you may have a LOT of junk to sift through. Targeted calls with people just outside of your sphere are probably the best way to build your client base.
What are your fears? How can we overcome them?
We’ve heard a lot of fears (aka excuses) in picking up the phone and making calls. It’s not a comfortable thing to do but like anything, practice makes perfect. What’s holding you back?
- Fear of rejection
- Fear of bothering people
- Lack of time
- Lack of knowledge
When you make these calls (with consistency), you will get better, your conversion rate will go up, and you will see success. Here are some ways to combat the fears listed above.
- No doesn’t mean “never” – cold calling is very often just the start of a conversation. Get as much information as you can, make notes and try again with a more specific and better approach later. This is why asking a lot of questions and keeping good records (hello, CRM) can lead to huge sales numbers later on down the road.
- Take the wins – if you have a solid conversation with just one person, that’s a success. Obviously, the more calls you make and the better you get at converting conversations into clients the better, but “rejection” comes with the territory. Learn to be comfortable hearing the words “no”, when you can, push past them and find a solution anyway
- Believe in yourself – you are providing value and people want to talk to you. If you need to say that to yourself 10 times every morning before you believe it – do it. It’s true, if you’re willing to take the time to call and help people out, they will appreciate it.
- Block your time – protect your prospecting time as the backbone of your business.
- Set a minimum – if you’re just starting with cold calling, start small. Like with any habit, you want to pick something attainable so that you can continue without getting discouraged. Work up from 5 calls to 50 calls a day. Whatever you choose – do it. And if you don’t – hold yourself accountable to that and make up for what you miss. For this reason, we see a lot of our agents setting weekly goals instead of daily goals.
- Read scripts – we believe scripts are highly personal and suggest reading through some to get ideas and then making adjustments for your personality type. This will help prepare you for the objections you’re likely to get and come up with strategies to help people through some of their fears.
How to add value without feeling like a chum.
Have a purpose to your call. Don’t just pick up the phone and say “Hey, I’m a real estate agent and I’m here to help.” Repackage your call to add the most value possible. Some ideas to spin a dull call into something memorable:
- Neighborhood specific updates – this can be a great way to share trends in the neighborhood, establish yourself as an expert, and capitalize on neighborhood call lists.
- Upcoming listings – advertise yourself as the person that is always networking to find listings before they hit the market. This is a great way to get your foot in the door with buyers who are on the fence, but make sure you follow up on that promise.
- Seasonal tips or market updates – establish yourself as the expert in all things real estate. Provide tips and current market knowledge.
- Open house invitations – this is a great excuse to reach out to a footprint of buyers or sellers within an area. Bonus – this drives more traffic to your open houses!
- Add them to a niche list – offer to keep them current on the properties that are most interesting to them. This is great for investors, acreage buyers, or any other niche – get creative!
- Offer your network – if you are constantly looking for the best of the best in all things home or community related, leverage that and offer up your network to prospective clients to create loyalty.
Use these strategies in your cold calling and other lead generation – good luck!