There are many benefits to gain and achieve when you undertake a cold calling and prospecting process as part of commercial real estate brokerage. One of the most important and obvious outcomes will be the ability to grow your market share faster and convert more high-quality listings over time.
In other words, you are really taking over the future direction of your personal and professional market share; you are also being selective when it comes to the clients and the properties that you work on. You then do not need to take on every random listing that comes your way, and on that basis listing quality and client, selection allows you to achieve better results.
The Real Benefits of Cold Calling
Here are some of the most important benefits of using direct cold calling as a personal marketing strategy in commercial real estate brokerage today:
- Gathering Leads – In talking to other people, you will come across many other leads and opportunities through the local area. Business owners and property investors can in many cases understand more about the local area and property precinct than you do. They will be hearing about upcoming property changes and business movements simply because of their local property ownership or occupancy. That information will help you with moving closer to a lead and a listing. Ask the right questions when you talk to new people.
- Listing Control – When you identify new leads, it is a lot easier to convert listings before other agents get involved or pitch for the same listing stock. As part of the listing control process, make sure that you focus on quality listings and exclusivity. When listing a property exclusively, ensure that you have obtained a good degree of vendor paid marketing commitment.
- Best method of sale or lease – When you directly identify new clients and property leads, you can make clear recommendations when it comes to innovative property marketing and the best methods of sale or lease. You can add your experiences and market knowledge to the client connection without the pressures of competing agents getting involved. You can help the client make the right choices in the sale or lease to achieve the best outcome in a timely way.
- Personal Promotion – It is a fact that most agents and brokers will not spend enough time on cold calling as part of a prospecting system. They are then missing out on many opportunities in the market locally. Those agents and brokers that can, however, master the process of telephone prospecting and client connection in that way, will find that it is a lot easier for them personally when it comes to attracting new business.
- Regular prospecting processes and systems – Telephone prospecting requires a definite process to stay on track. Most particularly that personal process involves a database that you can interact with as you make the calls. Fortunately today many of the high-quality database software programs are cloud-based, and can, therefore, be accessed across a number of online devices. Never before has it been so easy to create so much momentum in cold calling and direct contact.
If you are struggling with your market share today and are looking for new clients and listings, take the time to understand the cold calling process, develop your new business prospecting system accordingly, take immediate action, and start practising as you do so. Over time the practice will allow you to improve your call conversions and conversational ability.