Cold Calling in Real Estate: Does it Work?
There is no other marketing technique that real estate agents have such diverse, strong opinions on. It’s a true love-hate relationship. Some think that cold calling is just a waste of time and soon paleontologists will research telephones like fossils of the 21st century. Others state that if our predecessors could make it work we still can use it. If even hearing about cold calling gives you anxiety and panic attacks, I can assure you, you’re not alone. And that’s ok.
Here is the thing, the time of telephones is almost gone. And social media and modern techniques are making sure it stays that way. But if every real estate agent eagerly gets rid of cold calling, maybe it’s your time to pick it up and stand out by doing it. I’m not saying to go all old school, but adding something new and diversifying your marketing technique can be exactly the right thing.
Before you even consider using cold calling as your business technique, you need to understand cold calling needs more work and investment. Here is a list of things you need to prepare yourself for:
Do Your Research!
The first and foremost thing is research. Every successful agent will tell you that in order to get more leads you’ll need to get familiar with your audience. The same goes for cold calling. Cold calling requires work and patience. Before you contact your leads you have to research the local market and industry. What are the current trends? What products people are interested in? If you know the name of who you are calling, try to incorporate personalized info, too. You need to find as much information as possible.
Prepare Yourself for a Long Conversation- Make a Script.
Why does cold calling have such a bad reputation? It’s not only because it lost a battle with social media, but because not every person is made for cold calling. It often gives real estate agents anxiety and even the feeling of burnout. To avoid such a thing you need to prepare yourself and formulate different scripts for various cases.
But don’t forget. Scripts are just a tool for you to feel safe and more confident. Don’t turn it into a collection of strict rules. It can turn out monotonous and robotic which will worsen your relationship with your clients.
Choose the Right Time.
Here is the thing, people don’t want to get interrupted when they’re doing something important. So, it’s very important to choose the right time for contacting your clients. The researchers claim that the probability to get a “rude” response from a customer is higher in the evening hours. And that’s understandable. Everyone gets home from work, tired; they don’t have time and energy to hear about your offer. The same goes for the early hours. The ideal time for cold calling is right between 11 am and 2 pm.
Why Cold Calling Can Still Work?
After you incorporate this technique in your cold calling work, things will get easier and you’ll feel more comfortable. But there still is the question: is it worth it? The answer is yes. The thing is, despite social media’s huge impact on our communication, we can talk to everyone at lightning speed these days, it can make you feel interpersonal and disconnected. Cold calling makes your experience with customers more personal. Which is great!
It doesn’t matter if you are gen Z or a baby boomer; we still love to be seen and heard. We are egotistical creatures who want attention from other people. Research states that the more people that listen to us. the more our self-esteem is boosting and we feel more valuable. With the right script and the right conversational manners, you can get even more real estate leads.
It’s also important to remember that many people, especially older people still rely mostly on phones. If your niche in the real estate industry is, for example, retirement property, cold calling is your go-to.
If even thought of cold calling for real estate makes your skin crawl or you think it’s just a waste of time, energy and money, there are alternative solutions: dynamic websites and apps. Nowadays, these “alternative” options are the most popular and accurate for the time we live in. With the websites and apps, you will have full control of information about your customers, what they’re interested in and what the current trends are. With this information, you can easily spark a conversation and generate more leads.
P.S Interested in alternative solutions? Check out this article Mobile Apps: A Surefire Way to Increase Business & Brand Recognition.