Cold Calling Tips for Commercial Real Estate Agents

In this property market you need plenty of opportunity coming your way. Opportunity comes from prospecting and cold calling in this market. Unfortunately not enough salespeople actually commit to the cold calling process. It’s times like these that we all need a great database and ongoing contact with people that can transact property in this market. There are people out there who can purchase or lease property. Some of them are waiting for suitable bargains. This is where the skills of a great real estate agent come to the fore.

Here are some tips that you can use in cold calling.

  1. Set the same time each day for the process
  2. It’s best to devote about 2 hours to constant cold calling
  3. Be well prepared before you start so that the momentum is maintained
  4. Do not stop to complete lengthy reports and database entry on the computer. That can be done later.
  5. Find a quiet place to undertake your cold calling and prospecting on the telephone.
  6. To give yourself confidence in the process, try standing up whilst you make the calls. This will help you with the right voice and the correct mental attitude.
  7. Always practice your prospecting dialogue so that it becomes familiar and flows easily in conversation
  8. The key to success in cold calling is to create a conversation. Get away from one sided sales pitch type scripts.
  9. Diligence and persistence is the key to the process and your conversions to meetings.
  10. A good number of calls to undertake each day is around 50. You will not get through to 50 people but you will speak to probably around 15 to 20. Of that small group, you should be able to establish one or two meetings

In this property market, the prospecting process becomes foundational to success and opportunity. Real estate agents would now be seeing that the competitors are becoming thinner on the ground. Yes the market will improve but it will take time. In the meantime diligent hard work supported by focused prospecting and cold calling is the way to grow your market share. Remember to qualify a everybody that you speak to before spending extensive time with their requests.  See more about this here

Things for Salespeople to Avoid in this Commercial Real Estate Market

Make no mistake; the commercial real estate market is tough at the moment. That being said it pays to be totally committed as a real estate agent to prospecting and talking to new people.

Somewhere out there in your local area are some buyers and tenants that need property. Talk to as many people as possible. I say that at least 50% of your time should be in prospecting and cold calling at the moment.

Here is a list of some other things to avoid if you are a real estate agent.

  1. Unqualified tenants and buyers that want to inspect property at short notice
  2. Taking on property that is overpriced or has been over marketed by other agents
  3. Marketing property that is not matched to a target market of tenants or buyers
  4. Unnecessary and lengthy meetings in the office for no real reason
  5. Cutting your commissions for the sake of getting a listing
  6. Other members of the sales team that want to take up your precious time for their reasons and not yours
  7. Property owners that say they want to sell the property but will not put vendor marketing funds on the table
  8. Property owners that will not commit to an exclusive controlled listing for a reasonable period of time

They are simple rules but they will help you stay on track to a better real estate business and commissions in this market. Work hard and the results will come.  You can get more about this at our website