Cold Calling Strategies in Commercial Real Estate Brokerage

man talking on cell phone
Practice your cold call methods and conversations.

You will hear it frequently said that cold calling just has to be a part of a real estate prospecting model. Many agents and brokers struggle with the process and never really get it under control. That’s where the frustration is for many; they simply can’t get the skills under control or perhaps the focus is lacking.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

One thing needs to be said here if your real estate business is important to you. The issue is that you must practice your skills at making calls and lots of them. There are plenty of people to reach out to and many ways to do that.

Focus Your Call Routine This Way

Here are some valuable ways to get things under control:

  • Best time of day – Choose the best time of day to make your calls. That will be the time when you can reliably get your calls done without disruption. Certainly you have to bend the rules sometimes when it comes to making calls because some deals and some client matters cannot be put off. Understand how you like to do your work and when you like to do that. Where can you get 2 or 3 hours per day to make your calls? The morning is perhaps the best time for most people.
  • Relevance in conversation – If you want people to listen to you, then you must have some relevant conversational facts to talk about. Those facts should be locally biased and interesting. Be prepared to talk about local property trends and changes. Be prepared to talk about identified changes that will bring interest and benefit to your prospect and client base.
  • Practice your words – Some words work considerably better than others when it comes to creating flow and interest in conversation. You can get some valuable books about ‘Words that Sell’, and ‘Phrases that Sell’. Merge some of those word concepts into your conversations and client contact methods. Practice will help you improve in that way.
  • Have a few stories to tell – Local stories about property issues and changes will always be valuable as you talk to many local people. Over the course of a year you can capture many good stories about property issues and changes. Choose the best stories. Master the art of storytelling; that’s what good salespeople do all the time.
  • Make lots of calls – Every day you need to make a reasonable volume of calls; that process will require research and a good database to track your progress. In a period of 3 hours you should be able to make 40 to 50 calls. If you are using the business telephone book to do that, the momentum you create will be valuable to the growth of your real estate business.
  • Track your progress as you make the calls – Make notes in your database of what people have said and what you decided to do for the people you have connected with. You can talk about call progress and previous comments when you next reach out to the same people. Familiarity will help you grow good levels of trust and respect in the people that matter.
  • Qualify the people in conversation – Good questions will help you know if you can be of help to the people that you call. Determine your relevance to them and when they will best benefit from your future advice. Tell them how you can help them and when you should be talking with them again. If you can see an immediate or pending need, create a meeting. The person to person contact process in commercial real estate is really important.

 

So there are some good things that you can do here with cold calling and commercial real estate prospecting. Are you up to the challenge of making the calls and providing the best property service for your local area? Show respect in your conversations with the people that will take your call and speak with you. Respect builds trust. That is how you can move ahead in your local area as a top agent.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

Author: John Highman

Commercial Real Estate Broker, Coach, Speaker, Author, Broadcaster.