Many commercial real estate agents and salespeople hate the cold calling process. On that basis, they tend to avoid the activity as much as possible. Telephone canvassing is a valuable new business process in brokerage.
That being said, the most successful commercial salespeople in the industry understand the power of the new business and calling process and are happy to do it every day. You have a choice here and opportunity awaits you.
Commercial real estate brokerage is all about personal activity and the consistency around that. The telephone is a good new business tool to use in brokerage today.
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Real Estate Prospecting Best Practice
Here are some clear tips that will help you get the prospecting process under control.
- Understand that prospecting is very much a personal process that cannot be passed on or delegated to anyone else. Each and every day you need to devote the time to make calls to new people. At least half of your outbound calls should be to new people. The other half can be to the established clients and customers who already know you.
- The whole prospecting process can be fun if you let it. Keep up your canvassing momentum and take action on a daily basis.
- Preparation is the key to making cold calling work for you. It is best to prepare the night before so that your call prospecting time is optimised. Ideally, you should be making at least 40 to 50 calls inside of 3 hours. You will not get through to that many people. In fact, you may not get through to more than 20 people, but you should be able to generate two meetings per day out of that call contact process.
- When you make the call, be confident and direct. The first opening sentence will set the scene for the entire conversation. On that basis, you need to be prepared to connect and say the right things. Practice what you do on a daily basis. Simple opening sentences in making cold calls are really all that you need.
- Do not apologise as part of the call contact process. You are an interruption, however, you should never apologise for that, as they have already answered the telephone and they want you to get on with the discussion. If your opening statement in the cold call is correct and clear, they will tell you quite quickly whether they believe the conversation is worthwhile. If they do not want to talk to you, then simply thank them for the conversation and move on. There are plenty of prospects to talk to in the property market. Recognise that ‘pushing a call’ will get you nowhere.
- If you suffer from call reluctance or the process of fear in making calls, the best way to handle your progress is to get started right now today in making calls. Action will help drive your business forward and improve your skills relating to the prospecting process. Practice your opening script and do this on a daily basis. After two or three days, you will have no fear.
- Some people will have no interest in your offering. Recognise that this is quite OK and simply move on to the next person.
- The rejection factor and the simple ‘no not today’ statement is quite common when you make lots of calls. If you adjust your mindset and calling process to find out if the prospect has a need or an interest in your property offering or service, then rejection and call bounces are not problems. You look forward to moving on to the next person that may be an opportunity.
Your success in making cold calls and prospecting will largely be driven by the way in which you deal with the correct mindset plus your actions and personal practice. Call conversations take practice and process optimization.
Everything is up to you, and the results from cold calling are significant providing you optimise the process. Stop pitching and start connecting.