When you work in commercial real estate sales and leasing, the cold calling process is critical to building your market share and your listing business. If you want more listings and more deals, then making cold calling a key part of your daily diary is critical to the outcomes you seek.
Every day cold calling will produce more opportunities for you if you consistently make 50% of your calls to new people. This is a fundamental fact that is overlooked by some salespeople; they forget to ring new people and eventually start ringing the same people over and over again; they put no new opportunity into their call pipeline. All of a sudden, the sales pipeline stops revolving and the business you generate become static.
As a salesperson in the industry you know that you need to talk to new people, new business leaders, and property owners each and every day. Make that a part of your prospecting model.
Interestingly, there is another problem that comes with staying in the commercial real estate business over a long time. Potentially you will get more referral business from the deals that you have done; referrals are good news and easy to work with. They should not stop you however making contact with new people in your call prospecting pipeline. Do not let referrals hold you back from finding new people to add to your business growth and listing opportunity.
The three critical stages to cold calling and prospecting success can be summarized as:
- Research each evening the calls you are going to make prior to the next day.
- Work out what the prime prospecting time should be for you to contact the people you regard as client opportunities. Make your calls at the same time every day.
- Consistency and persistence will make the calling process work for you providing you practice the process every day. This is best done in the morning before you get to work.
There is a simple equation that can take you forward in your call prospecting process; it goes something like this:
The number of calls that you make every day with a positive communicating attitude will bring further business opportunity providing you improve your techniques and understand your market. The people you deal with want to work with the best in the industry, not a test case salesperson that is still finding their feet. Business opportunities await those that take action every day.