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Telephone Prospecting Techniques for Commercial Real Estate

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Most agents will avoid making lots of outbound calls each day.  That is a weakness and a problem that impacts their careers substantially over time.  It should not be that way, and it is quickly resolved through a new mindset of helping property owners and business owners with property or investment needs.  It is a fact that telephone prospecting will build your commercial real estate business faster than any other strategy.

Why is this important?  It is a skill to be respected, practised, and refined. The difference between the top agents of the market and everyone else is usually something aligned to outbound prospecting calls and the frequency of that.

To make plenty of outbound calls to new people, you must have some logical reasons for making calls.  It then gives you some structure to your conversation and helps you find the people that you want to engage with as potential clients. It also allows you with the conversations and the flow of the discussion.

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The Real Purpose of Calling

The purpose of making calls for most agents will generally be something like ‘to find more clients and listings’.  But you must be more precise than that with the reason for the call.  When you get clarity on the outbound call process, you find people and create great conversations.  The new real estate business will be there in those connections.  If you are looking for more new business, focus on further discussions with new people.  Try some of these.

  • Identifying business owners that need to move to other premises
  • Identifying business owners that may need to expand or contract operations
  • Investors that want to expand their property holdings
  • Investors that want to shift some capital from one property type to another

These reasons give you more structure and focus on your telephone prospecting activities and your conversations. In saying that, remember that every conversation is simply that and not a sales pitch or a listing pitch.

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The Conversation is All About Them

The first contact you make to any person (investor or business owner) in your location should be about their commercial property and investment needs currently or in the future. Many people will not require help on property matters, and on that basis, you move onto others and new conversations.

Another ‘strategic layer’ in the outbound call process should be to call people by group types.  Over two or three hours, you telephone people within groups.  That could be any of the following.

  • Business owners in a particular suburb
  • Business owners by type (i.e., chemists, supermarkets etc.)
  • Investors by property location

All these things take a degree of organization and research; that should be done the day before your call blocks.  It is easy to see how a rigid working process and system in commercial real estate will help you get somewhere faster as an agent in your location.

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