Over time I have written about, and spent a good deal of focus on cold call systems and processes. In commercial real estate brokerage, the telephone is such an important part of finding and generating new clients and listings. The telephone is convenient and cheap to use; a process of making more calls is required.
Call Contact Systems
When an agent or broker is struggling with finding better listing stock and or gaining market share I usually raise a few simple questions. They go something like this:
- What is the size of your database?
- How fresh is the information in your database?
- How many calls to new people are you making each day?
These are all ‘personal questions and numbers’. The agents that are ‘struggling’ with results are usually those that are not prospecting for new clients in any particular regular way. The active word here is ‘regular’. Diversions and distractions are common in commercial real estate brokerage. Personal ‘discipline’ is required to build a real estate business.
The best way to build a real estate business is through a prospecting model that is ‘actioned’ at a personal level every day. That means people will be spending 2 or 3 hours doing something that involves talking to new people that have a property interest locally. When new information is captured in a series of calls, that information can be entered into a contact list and or database software program. There are plenty of good ‘cloud based’ programs around today that are all relatively cheap to subscribe to. The variations of use and application of each software model just need some ‘decisions’ by each agent, in how things can be done with ongoing call contact and accessed over time. Choose the best database program that you can understand and use; make things simple in your call contact.
The effectiveness of a call prospecting system usually depends on the ‘professionalism of the process’. To help with that, I have written this simple article that gives some direction on the questions that can be raised in a prospecting call to business owners, investors, or local people.
You can get the simple PDF file on ‘Cold Call Effectiveness’ right here: