In commercial real estate sales and leasing, you need results when it comes to cold calling. There is no doubt that the cold call prospecting process is a significant part of the business generation system that you should be running. That being said, you still need to get results from your telephone contact processes. Tracking your numbers as you make the calls is really important.
To get the call system up and running for you I have provided a number of tips that will help you with establishing the right mindset, and building the processes to support the results that you will achieve.
- The first two or three weeks in the call prospecting system are always the toughest. That is because it takes time to develop a new habit, and you have had years of other activities to break or reshape. Developing new habits are part of the commercial real estate business and certainly part of the prospecting process.
- Every day you will be contacting many people in the local area. The key to the process is in making lots of calls in the easiest possible way. When it comes to commercial and retail property, the best place to start is in the business telephone book. Every business will have a relationship to commercial or retail property as a tenant or an owner. When you ask the right questions, you will get the market intelligence that you need. Local business owners will also tell you more about the local area and their immediate location. It is very easy to telephone 50 businesses from the telephone book on a daily basis. As you do this, you should track your findings and the comments from relative prospective business owners.
- To telephone 50 businesses, it takes about 2 hours. You will not get through to 50 people during that time or establish 50 reasonable telephone conversations. Those people that you cannot contact today should be put into the pipeline for a return phone call. Out of 50 telephone calls, you should get through to approximately 15 to 20 business proprietors. It is then simply a matter of asking the right questions.
Many salespeople look at the cold calling process incorrectly. In our industry, it is very difficult to pitch over the telephone. On that basis your initial call should simply be to find out if they have a need or interest. Following that point of qualification, you can generate a meeting with the right people. On that basis you will not be wasting your time.
The super-fast process to cold calling is simple and straightforward. When you stick to the rules above, you will find that results are achieved. Keep yourself focused and detailed when it comes to capturing information.