Starboard Commercial Real Estate

Hans Hansson | October 18, 2005

A motivational speaker at a recent training seminar made several comments in a joking manner about how senior brokers no longer have to learn about cold calling techniques because they don't make cold calls anymore.

When asked recently for the most important issue that could negatively impact their business in the future, principals of real estate organizations answered the lack of cold calling in their offices. In general, no one is doing it anymore.

When I started in real estate 20 years ago, my introduction to commercial real estate was, "Here is a desk, here is a phone, and here is a reverse directory. Start cold calling." I did not have a computer or the ability to drill down to learn about the next prospective call.

So why aren't salespeople today cold calling? And how are they developing their business to replace cold calling?

Modern technology provides many answers. The Internet, email, and the numerous networking opportunities available today have replaced some of the need for cold calling. However, the real reason salespeople are making fewer cold calls is because few people like to do it and are disciplined enough to commit the time to do it right.

Yet, as a pillar of our business, cold calling is without doubt the most rewarding way to develop new business. So what should you do if you want to make cold calling work for you? Here are some tips, all of which apply to both in-person cold calling and phone calling.

First, schedule cold calling like any other appointment. If you fail to schedule time for cold calling, you will most certainly stop doing it over time.

Second, constantly test your cold-calling techniques to determine what is getting you the best results.

Third, educate yourself on the best ways to make a successful cold call. Run a search on Google or Amazon for effective cold calling techniques; numerous choices to educate and improve your skills are available.

Fourth, treat cold calling like you would a mailer. Mailers take at least six to eight contacts with the same person before being effective. The same principle applies to cold calling. Keep your cold calling to a very small list of companies and make repeated calls.

Finally, gauge your results every month. Tabulate how many calls you made against how many appointments you landed. Incorporate hard mail or email campaigns to provide even better name identification with each call.
Posted 14 years, 5 months ago on October 18, 2005
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Comments on this post:

Re: Is Cold Calling a Lost Art?
Cold calling IS effective. I just concluded a $10,000,000 sale in San Francisco from a repeated cold call. Had I done that from day 1 in real estate in 1977, I would own this company instead of simply working for it.

2005/11/16 by Richard Kales wwwReply
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Re: Is Cold Calling a Lost Art?
I have tried many systems to get leads and none of them even comes close to making cold calls.
If there done consistantly they will real big rewards.
I sell residential real estate in BC canada

2006/02/09 by Al Dahl wwwReply
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