Cold Call Prospecting Tips for Commercial Real Estate Agents

When you work in commercial real estate, it is the contact and cold calls that you make on new prospects that will build your business in any market. Even when the market is really difficult, or the economy is slower, the cold calling process really works in building new business opportunity. Given that this is the case, why is it that agents and salespeople do not make many calls and some do not do it at all? The reality is that they dislike making the calls and will avoid it at every opportunity. They have a fear of the process.

The cold calling process is a discipline and it takes practice to do it well. You hear so many people say that you need scripts; the truth is you do not. Scripts do not work well until the script words become your words. The only way you can deal with that is practice the scripts and shape them into the way you talk.

Until such time as the script becomes comfortable for you, things will be difficult in making the calls. So the key point here is that practice is required. That is up to you.

Here are some basic tips for those of you that want to make the telephone a business tool for new opportunity.

  1. Prepare your call prospect list with care so you are calling businesses or investors that have a relationship or involvement in commercial property.
  2. Make your calls at the same time each day so the process becomes a habit.
  3. Understand that many people will say ‘no’ or decline your offer. That is quite OK and is normal. You just need to keep making the calls.
  4. Keep a database running of the suspects and prospects that you should call back in the future.
  5. Ideally your personal database of leads should total about 1,000 people, and you should be contacting them at least every 90 days.
  6. Polite, professional calls are what are required to make this work. The sleazy pushy pitch is useless and counterproductive.
  7. Consistency means that you should be calling new prostpects every business day; no excuses.

If you want more tips on cold call prospecting for real estate agents, try our website

By John Highman

John Highman is an International Commercial Real Estate Author, Conference Speaker, and Broadcaster living in Australia, who shares property investment ideas and information to online audiences Worldwide.