Cold calling is an essential part of your overall marketing strategy. It may seem outdated, but this old fashioned approach still works and changes as technology progresses.
True, most people, real estate investors included, do not enjoy cold calls. Most end in rejection and leave you feeling discouraged. Cold calling is still lucrative though, if you keep at it and do it right.
1. Build a "Targeted" Calling List
Do not pull out the phone book and start dialing. You will get rejected a lot less if you build a targeted calling list. This list includes prospects who own foreclosure, probate, or tax-delinquent properties. You can search bank listings and public records, or do drive-bys, to find them.
GoForClose builds a motivated homeowner list that is unmatched in the Real Estate Investing industry. We use machine learning to assess those leads who are most likely to sell and haven’t hit the Vacant/Tax-Delinquent/Bankruptcy list yet. We then pull those leads that meet your requirements and start marketing to them, including via cold calling.
2. Have a Real Estate Investing Script, but Be Human
Have you been cold called before? How long into the call did it take you to know the person calling was not someone you want to talk to? Less than a second?
Most times, when a person identifies as a cold caller, the receiver plans a shutdown answer or hangs up. You can void this with a simple opening:
- Right away, identify who you are and why you’re calling;
- Do not volunteer intelligence – where you got their information;
- End with a question – so the receiver knows the next step to take; and
- Keep it conversational.
A script for wholesaling real estate keeps you from fumbling over answers to questions, and helps you leave an effective voicemail if the prospect is not available. Practice your script, so that when you call, you do not sound like you’re reading. You want to sound warm and natural, like a professional, not a robot.
Our team of Internal Sales Associates (ISA) have Real Estate Investing training and experience talking with homeowners. They handle all cold calling, texting, and email responses, and can provide a warm transfer to you or your sales team.
3. Use Technology to Eliminate Tedious Tasks
Leverage digital technology to transform your cold calling experiences and improve efficiency. There are so many tools available to you to modernize and facilitate the cold calling process, tools like,
- Outreach; and
GoForClose uses top industry software that enables our ISAs to record calls, track leads, and measure performance. We can remove “not interested” or “do not contact” numbers, and nurture leads who are “not (yet) ready to sell”.
4. Skip Trace to Reach the Right Person
If you are driving-for-dollars, how do you reach a homeowner with a vacant, neglected, or For Sale By Owner (FSBO) property? Knocking on the door is not really an option after recent 2020 events. You could search public records to find those names and numbers.
Or, you can give GoForClose the address of interest. We use multi-tiered skip tracing programs to track information for might-be sellers, and then market to them for you, including via cold calling.
5. Don't Waste Your Time
Prospects are more likely to answer the phone from 9am-5pm. If you focus your efforts during those hours, you can make a big impact. The only issue with this is, the time you spend cold calling might be better spent focusing on sales and closing deals.
GoForClose reaches the right people for you, with the right message at the right time. We do this via cold calling, SMS, emails, and direct mail. We tailor marketing strategies that fit your needs and provide you with qualified leads who are ready to sell.
Rather than have you burn out on tedious real estate investing marketing, we do the work for you, so you can focus on running your business.
If you have questions or are curious to know more, request a free consultation below.