Did You Always Dream of Cold-Calling for a Living?

I'm with you Jennifer!  Unfortunately my broker pushes cold-calling as the way to get business.  With me being a new agent without a large SOI, I feel like I don't have much choice but to do it. 

I've enjoyed both of your books immensely and I'm hoping that my more soulful prospecting will take off and I can leave the cold-calling behind.

The scary thing that I see Jennifer is that it DOES work.  The door knockers and cold-callers in my area do have business right now.  But I'm definitely but I'm struggling.  Just a few days ago I had someone select me for a listing presentation because I was standing outside his building with listing sheets waiting for a buyer client. Now, he did question me extensively about the area with which I am familiar.  But what makes people pick one agent over another? 

It is probably the "agents are a dime a dozen" mentality that produces this.  The door knockers and cold-callers would argue that it makes them look like go-getters.  No - if you're a woman you just look like a pushy broad that won't go away until the "victim" does what you want.  If you're a man - you might be slipping towards intimidation or worse.  It cements in the mind of the public that we are just pushy hacks angling for our slice.  But then that comes full circle as to why this method works.  Since we are all the same - it doesn't matter who you pick.

I always wondered why power spammers didn't become stock brokers if they like the phone so much!!

It is pretty crazy isnt it?  How many calls do you get that say: I can help you increase your internet presence so your clients can find you..

DUH, You found me, I guess I must already have a presence???

Survey after survey always show that referral is the #1 reason for choosing a RE Professional... so do your job, Do it well and treat it like a career!  That's the secret!

Jennifer - I am cold-calling expired listings and FSBOs.  The scripts aren't really any different from any other scripts that are out there on the internet.  I just prefer not to have to pester people to try to get business. 

Let's assume that out of 100 cold-calls you get 5 warm leads. However it is likely you will also piss of 80+ people... potential customers.

If you make 100 cold calls a day, image how many potential customers you can piss off each year!!

What if cold-calling was called "creating your reputation image by pissing off people?"  Would it still be popular?

Hugs! G

I'm not 100% with you here Jennifer. Cold Calls can be "spammers", calling just to call & harasse but I believe the Cold Calls we make in Real Estate are calls to people we don't know but know we can help or want to work with ... whether its a FSBO or a new business to create a relationship with. The way I see it is, my Cold Calls are similar to being at a Networking Event - I'm increasing my SOI, creating relationships, & offering my services (which could be to volunteer for an organization or be their agent in a transaction).

~Cheers~ 

Just a quick little additon.... Is cold calling an expired or FSBO really a cold call?  I dont think so - they have shown interest in selling their home.  You just need to be prepared to tell them how you will sell their home where others have failed.  I think these are more luke warm calls!

Jennifer, although I agree with the premise of not bothering people, I disagree that cold-calling is evil.  I used to do sales seminars in which I taught the standard "sales is a numbers game" scenario.  You know, if the closing rate is 10% and your commission is $100 per widget, then nine of ten calls is going to say "no" but each of those ten calls is worth $10 in commission.

I don't believe in random cold-calling, but I do believe in targeted marketing.  No one here has mentioned short sales yet, but that's one of my biggest markets right now.  I farm two areas for short sales and I do it by cold-calling.  I visit each prospect with a flyer once a week for three weeks.  If I have no response after three weeks I drop that potential short sale from my list.

Why do I cold call for short sales?  Because I think people in danger of losing their homes are frightened and unsure of what they may be able to do, so they do nothing.  My goal is to educate them as to their options and, if appropriate, list them as a short sale.  These folks are grateful that someone seems to care and talking to a caring "stranger" seems to work better for many than talking to someone they know.

So, I contend that not all cold-calling is evil.

Hi, Jennifer:

Interesting that so many of the spammers are touting their thesis writing skills. And how ungrammatical their "comments" are.

Cheers,

Robin

Hi Jennifer,

Of course I agree with you completely!  Hilarious that comment #9 is a spammer of ringtones.

I think I'm batting 1000 on those damn essay writing spammers commenting on my posts.  I HATE them!  I don't want their broken English, cruddy grammar comments on my posts where the outside world can see!

I will NEVER do cold-calling because I absolutely HATE it when someone cold calls me.  Golden Rule, pure and simple!  I'd rather attract than browbeat!

I only cold call if I am planning to follow it up with a pop by and I have an item of value to share with them. I always give them something before I ask for anything.

Jennifer - I did start my career with Sweathogs cold-calling.  I got comments from "I'll blow up my house beforfe I sell it!" to "Yes, I was thinking of selling!", and I did get listings.   I think most people today are very sensitive to phone solicitations, so it would be more difficult to succeed.