business man on telephone

Cold Calling Business Model for Commercial Real Estate Brokerage

In commercial real estate brokerage, a cold calling system is critical to your new business prospecting processes. If you avoid the process, then you are walking away from the fastest way to create new leads and opportunities.

(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)

Too many agents and brokers simply can’t or won’t master cold calling comprehensively and specifically for their business. At the first opportunity they will walk away from the challenge or the time requirement.

Sometimes you have to do things that are a bit difficult and challenging. Telephone prospecting is like that. In business today there are those people that do the ‘hard stuff’ and those that walk away from the opportunity simply because of the skills and disciplines required.

The top agents in the market and usually those that are prepared to do what others avoid or can’t master. Making prospecting calls on the telephone is like that. Do you want to be a top agent? Then consider how you can establish your call contact system.

Here are some ideas to help you:

  1. Practice what you say – When you get the call process started, things will be a lot easier if you practice each morning before you get to the office. Take your call success rate to the next level by deliberately practicing things in a regular way. Refine your skills with telephone conversations.
  2. Build relevance – If you are a local agent of reasonable property skill and specialization, then you should have some relevant information to add to your call contact conversations. Gather some information that will be of interest to investors, business owners, and tenants. Find ways to share that information.
  3. Remove distractions – Get away from surrounding noise. A closed room is a good location to make your calls. That fact is not just to help you with the process of calling, but also to show some respect to the person on the other end of the line with what you are saying and suggesting.
  4. Research your list – There are many people and businesses that you can call, but in saying that, it is really important to research and grow your list through some selection process. Don’t be eager to telephone everyone in your town or city; make a few selections that will help you hone your list and contact process.
  5. Fixed time slot – The best way to make calls is to do it at the same time each day. Set aside 2 hours to get the process done. Nothing should shift you from making your calls. The moment someone asks you to put a meeting in your ‘call time’ think about the damage that single meeting could do to your income and client base.
  6. Stand up to make your calls – As simple and perhaps silly as it seems, the ‘stand up’ call process really does help when it comes to making conversations of value and substance. Create conversations at every opportunity. To make things work in this way, ensure that you are using a telephone headset.

Given all of these things, make sure that you track and measure everything that you do. Eventually you will see a growth in call to meeting conversions and that can be the start of some real momentum in your real estate business.

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