You can create many more listings in commercial real estate through a dedicated daily telephone-based cold calling process. As part of that, you can refine the calls that you make in several ways to get better results over time.
As easy as this sounds, the process requires call prospecting practice and organization. It is a skill to develop and grow.
So why is all this important? The rules are simple. Calls easily create contacts with new people, and those contacts can lead to meetings and conversations.
From that regular contact process, you will find the local people that need property help; that’s when meetings start to occur. That is the prospecting formula to bring into your property business.
Prospecting Mindset Solution
There is a ‘mindset’ to the cold calling process that will help you further as well. The ‘mindset’ goes something like this:
‘You are the expert commercial real estate specialist in a location (or should be). On that basis, local people can need your help at different times with sales, leasing, and property management.’ That is the mindset to remember as you talk to new people on the telephone. Ask questions. Can you be of any help?
Make calls to new people but also make regular calls to the same people you have spoken with before because property situations change, and challenges are sometimes unexpected. You want those investors and business people in the local area to know you as the ‘solution provider’. You want them to remember you. That is the core formula for making cold calling a successful part of your real estate business.’
Regular Calling Solutions
How can you create more listings with regular cold calling? You refine the process through using these methods:
- Choose the times of day for calling that will help you connect with more people. This can be a ‘trial and error’ process until you know what works for you and your local area of prospects. The early and later parts of the day are very successful for calling business people.
- Repeat the call process to the same people. Over time you will become known as the local agent looking for ‘good listing stock’.
- Research the quality local people to call as some are better than others when it comes to commercial property locally.
- It is easy to phone local businesses using the local business telephone book. Sure, you can add property owners to the list as you find them, but you can immediately start calling local business people, and you can ask them about their current property needs from a business perspective.
- Add some local information to the contact process. Provide local information by email later to the people you talk to or do so in a meeting. Share listing detail, prices, and rents. Create a few social media channels that you can use in balance with your cold calling.
- Improve your call dialogue with regular daily practice. Your voice is a valuable tool to refine and improve, and you can do it with practice in this way. You have the advantage of preparing for a call; the person that you call has no chance of preparation, so you are immediately at an advantage if you start practising what you say and how you say it. Expect people to ‘push back’ your call or contact approach and use your call practice processes to help you handle that and move through any conversation with professionalism.
So, there are some easy concepts to work with here that will help you with commercial real estate cold calling and listing creation. Understand this fact; you are fully in control of the telephone prospecting process and can optimize it with some refinement, practice, and daily action. Enjoy the benefits of the listings and people that you find.