In commercial real estate brokerage, the outbound calls that you make as an industry professional are valuable in so many ways, the most important of which will be your ability to generate new business meetings and or new connections with people. Those calls can boost your business faster than just about anything else that you do.
In saying that, there are some ‘home truths’ about the outbound telephone calls that should be acknowledged here:
- It takes a good degree of personal organization to make plenty of new calls to new people.
- Call reluctance is a problem in the property industry, with many agents stopping the process outright or at the very least, doing fewer calls over time.
- Many agents will not make enough cold calls, simply because they cannot handle the ‘rejection’ of the calls made to new people.
These three facts are the reasons that most agents and brokers will not make enough calls and fail to give themselves a reasonable market share and pipeline of activity. That then is the beginning of the ‘roller coaster’ of real estate; stabilize your real estate business and consolidate your results. Focus creates results.
So, let’s look at this in reverse. The opportunities here are deep and substantial for those agents and brokers that can get a call contact system underway and do it every day. The best agents in the industry are those that can create a call contact process of substance and regularity.
If you are new to the industry or want to build a better market share, then there are some specific strategies to consider and develop around making outbound calls and developing the cold calling process. Get control of your real estate career by developing a definite and deliberate prospecting model around the telephone and tele-prospecting.
Boost Your Real Estate Contact List
There is an important focus to remember here. Connect with more people regularly and specifically to boost your brand as an industry specialist. Make plenty of calls to a plan and a strategy. Track your progress every day through numbers and results. In tracking your progress, you can achieve an understanding of how you are improving and how the property market is responding to economic and local conditions.
Call Contact Strategies
Here are some ideas to help you make more outbound calls with greater levels of success and conversion:
- Understand your property specialization for the location and use it in your telephone prospecting processes. Use your specialization as a point of difference in making outbound calls; share property related information in a valuable way with the people that you talk to. Offer locally based property information about leasing, prices, and available listings as you talk to more people every day. Property investors and local business people like to know what is happening with prices and rentals.
- Ask questions as part of making the outbound calls each day to new people. Some people will tell you more about their interest in property investment and occupancy. Information leads to opportunity. Questions lead to conversations and ongoing contact.
- Local business owners usually have some form of property challenge to resolve. Successful businesses need to expand, and struggling businesses need to relocate. Regular contact over time with the decision makers of local business will help you solve their business problems in a timely way. Get ready to ask the questions and create the conversations. Track the responses that you get.
- Open your telephone call-up into other related information and listings in the location. Ask about property changes in the location or around the property precinct or building. When talking to a property investor or business decision maker, their awareness of local property activity will be a potential source of referral or new business for you.
- Look into matters of property pressure or change in all your discussions with others. Small talk can lead to information sharing. Be friendly, open, and professional as you reach out to new people in local property.
- Always close a call conversation on an opportunity for a meeting. Understand the value of a face to face meeting with new people locally. Try to get to two meetings per day with new people.
So, these points can be a ‘roadmap’ to making more outbound calls in commercial real estate brokerage. Take a position of confidence and specialization as you approach more people in your location.