When she started her career in real estate, sales representative Nancy Bloom, an OREA Real Estate College instructor, recalls how a manager told her to classify her calls as cold, warm, and hot.
“Cold calls are people who probably don’t know who you are or who you haven’t spoken to before,” Nancy explains. “Warm calls are people who know you from receiving your flyers or on whose door you have recently knocked. Hot calls are people who have indicated they or someone they know is thinking of moving or is someone who knows you well.
“The nicest and easiest people to talk to are, of course, the hot calls. The goal is to turn your cold calls into those.”
Nancy’s description holds the key to your first tip in cold calling (defined as making unsolicited telephone calls or visits) – introduce yourself. Select an area (your farm) and send out flyers or knock on doors. Make a connection so people will remember your name when you follow-up by telephone.
Following are a few of Nancy’s cold calling tips to make the task seem less daunting.
Make your calls brief and get to the point. State your name and the reason for your call.
• Sound like you want to be making the call. Smile (it comes through on the telephone) or stand up (to increase your energy).
• If you receive a negative response, thank them and hang up. Don’t keep pursuing it. If you receive a hesitant response, you may want to probe a little further by asking another question, such as “Is it something you might be thinking of in the future?”
• Provide information. People may be curious about what is going on in their area or what the market is like.
• If you intend to ask additional questions, ask questions you are comfortable with, such as:
- “Are you thinking of making a move?” – or – “Are you moving?”
- “Do you know anyone who is thinking of moving?”
- “I’m [NAME] from ABC Realty Inc., do you have any questions about real estate in your area?”
- “Housing prices have increased in your area. Do you know what your home is worth?” – or – “Would you like to know what your home is worth?”
• Be patient. It takes a lot of “nos” to get a “yes.”
• Determine how many cold calls to make each day. Make certain the number is reasonable.
• Be positive (yup, easier said than done).
• Be respectful and professional.
• Be prepared.
• Be yourself.
• Please ensure you do not contact anyone on the National Do Not Call List (for more information, go to https://www.lnnte-dncl.gc.ca/index-eng) or is currently listed for sale with another brokerage.
For More Information
For more information on sales techniques, please consult our A Mentoring Kit for New Salespeople: Training For Success at http://www.oreacollegestore.com/ShowItem.aspx?ItemID=LT-PB-MentoringKit&Design=false&CurrentTab=divCatLearningTools. This is a valuable resource for both brokers and salespeople.
Please share your cold calling tips with your colleagues.