Real Estate Agent and Trainer, Robert Rico, explains how to turn your cold leads into Real Estate clients, and gives some great tips on how to talk to people on the phone. Do you want to see more video blogs? Subscribe here!
Cold calling brings dread to most people’s hearts — from both the caller side, and the recipient side. However, as a real estate agent, sometimes it’s part of the job description… what’s the best way to get success on a cold call?
One of the main values of cold calling is that you get a fresh, first impression on someone who probably doesn’t know your name, or doesn’t know the fact that you’re a real estate agent. This is both a blessing and a curse — you can make a very good connection over the phone, but you do have to overcome the initial objections and provide value to the potential customer on the other end of the line.
Head Trainer, Robert Rico, has a couple of suggestions for cold calling, having done it many times — as well as other types of prospecting. The toughest component can be the repeated rejection, since people are often guarded and will say “no” until you’ve convinced them to say “yes.” Some agents start the conversation very simply and abruptly, simply asking the owner if they are interested in selling their house. That may be a little too direct and abrasive. You, as the agent, want to make a connection before you even bring up the real topic at hand — selling their house for your commission!
A great way to connect with someone you don’t know, is to offer them something valuable. Now, this does not (necessarily) mean something tangible that you would have to buy. Sure, it would be great if you could give every potential customer a gift card, but you’d go broke in days! The best thing that a Real Estate Agent can do is offer them information.
Before you attempt to make connections with these potential customers, you have to actually know the information you’re going to offer them — so hit the books and do some research! Pull comparable sales from the MLS, see what the market is doing, and try to ballpark a reasonable listing price for the home you’re about to call. It’s one thing to just say to a customer, “would you be interested in selling?” and quite another to say, “would you like the opportunity to make over a million dollars by selling your home in today’s sizzling-hot market? Your neighbor down the street just sold their house for 1.7 million!”
By nature, humans are curious about what’s happening in their close proximity — therefore, giving someone targeted price information about comparable homes nearby will provide the most value to them. This will, of course, greatly increase the probability they continue the conversation with you, rather than shutting it down. Once you have continued the conversation, the goal is to provide a little more information, and then withhold the real “meaty” information until you’ve met in-person.
As Rico says: give them a taste of something, just a little teaser, and something to think about. If they like the teaser, chances are they want the full thing — so give them a little informative taste, and make it easy for them to come to you.
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