In commercial real estate brokerage, the cold calling skills that you develop will potentially change the future for you in both listing and commissions. Given that you need plenty of new people in your database, a period of time should be set aside each day to making calls and creating meetings.
Regularity in calling is required to make things work and for the new business conversions to occur. Don’t expect to get new business from the first 10 calls that you make; it doesn’t work that way. It may take several hundred calls or many weeks for you to find that first client or property listing. The greater the number of calls that you make over a sustained period of time, you will improve your call skills and thereby find the results coming back be they leads, listings, referrals, or contacts. One small thing mentioned in a call conversation can lead to another opportunity in commercial real estate prospecting; the key issue is to keep up the momentum.
Your Call Contact System
If you are struggling with finding the new business opportunities, take some simple steps like these to get started with better call contact systems:
- SET A PLAN OF ACTION: Make time in your diary so the outbound calls are made every day at the same time. A habit of making calls should be established. That will take a lot of personal effort and discipline.
- PRACTICE: Your call skills will improve over time, but you can fast track that by daily practice before the business day starts. Establish some simple phrases and words that you regularly use in making calls. Practice the way that you speak across the telephone in any new prospecting call. Confidence is the key to better connections.
- RELEVANCE: Your reason for calling should be specific and fully about the person you are talking to (it’s not all about you). Opening phrases in the call should be in the order of your introduction first, followed by a simple questioning process to see if the person has any issues with commercial property from an investment or business perspective. Support your conversation with local property facts.
- DON’T PITCH: Today most commercial property investors and business owners know when a pitch is happening; they don’t want to be pitched to in any way or form. If you attempt a pitch in the first property conversation they are likely to shut down the conversation. Build a conversation across the telephone and be friendly. That approach will get you further in your growth of market share.
Given all of these things, take the time and set the processes in place to see how you are improving in cold calling at a personal level. It may take many days or weeks, but call contact and conversions will happen over time. Practice what you do and improve over time.