Cold Calling Techniques in Commercial Real Estate Brokerage

If commercial real estate brokerage is your industry and your career, then you should understand that cold calling is a fundamental business skill that you will need to master and implement.  The longer you take to get these skills under control, the longer it will take you to get into your property market and build a reasonable client base and listing bank.

Connect with the People

Here are the issues to understand and remember about this:

  • When you make direct calls to new people in your location you will find new business and new property requirements. You simply have to master the process of asking the right questions professionally.
  • The size and timely nature of your database will be a big factor of business growth in both listings and clients. How big is your database now?  Is it up to date?
  • Most of the business that you generate will come from your prospecting efforts, so it stands to reason that you should get out in your location and find new people to talk to every day.

These things are easy to understand, not difficult to do, and yet many agents and brokers struggle with getting their prospecting efforts underway.  Make no mistake here; there are new skills to master and practice in cold calling and direct marketing.  The way in which you make the calls and connect with new people will have a lot to do with the results that you get.

The Call Contact Facts

Here are some of the key facts in cold calling in commercial real estate brokerage that will impact your business results.  Study these facts and determine how you can use them:

  1. Systems are really important – Establish systems where you canvass streets and business types. Stay organised as you do that so you can reach out to all the right property people in your location.
  2. Who are you calling? – Determine who you should be calling and connecting with. When you know these facts you can make relevant calls and sound both intelligent and specific to the location and or the person that you are talking to.
  3. Set a regular time for the call process – Don’t let other things change or defer your call contact time. Set a regular time in your diary each day and across every week where you can make the calls.
  4. You will need to make plenty of calls – Some people will want to talk about property matters, and other people will not. On that basis keep your call conversations professional and location or property specific.  When you talk about specifics, others will have to listen.

Given all of these things, you can develop the correct skills and momentum to implement a successful cold call prospecting system in commercial real estate brokerage.  Get things started and do the practice required.  Stay at the process and do not stop.  Over time things will improve and your listing and client conversions will escalate.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

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