Is Real Estate Cold Calling Still Relevant in 2023?
Real estate cold calling is used to generate new leads, set up appointments with people who may want to buy or sell a home, and schedule meetings with interested clients. Like cold calling in any other industry, you have a brief or very brief time to convince this total stranger that you can actually benefit them and help them achieve their goals.
You have precious seconds to show them you are not the typical image of a sales person that they have in their head. It’s difficult. You face a lot of rejection. And it’s becoming harder and harder as people answer their phones less and less for unknown numbers.
The question is, is real estate cold calling still relevant in 2023? Let’s try to answer that question.
What Are the Stats of Real Estate Cold Calling?
The question of whether or not real estate cold calling is still relevant in 2023 really comes down to whether or not it is still effective. Let’s take a look at what the numbers say:
- 28% of cold calls are answered by their intended recipients
- 7% of real estate agents report that cold calling is one of their best lead generation strategies
- 68% of real estate agents and ISAs are able to successfully follow up with a lead after a cold call
The bottom line is that real estate cold calling can still work, even in 2023. You just have to learn the tools and strategies to do it the right way. If you can master it, then you have a cost effective, productive lead generation method that can connect you with a ton of new business.
But how can you do it the right way?
Be Successful at Real Estate Cold Calling
At Smart Coaching and Training, we talk a lot about objection handling and how that relates to closing on your calls and being a successful cold caller. After all, caller objections give you the ammunition you need to be able to prove your value to the lead and that you understand where they are coming from, from the lead’s perspective. This means it is very important to recognize and practice common real estate objectionsand have a consistent strategy for overcoming them.
Before you can even hear an objection, however, you have to first keep the lead from hanging up on you right away. Your first few statements are extremely important. Think about it this way, so few people pick up the phone nowadays, that if you have someone who does pick up, you do not want to mess up this increasingly rare opportunity.
At the very beginning of the phone call, you have to successfully communicate why you are calling them, and why you are calling them when you are calling them. In other words, you have to convince the lead that what you are doing is relevant to them. This means you have to take a long, hard look at your communication strategies to continually improve your successful conversion rate. It’s critical to be informed about your leads, their interests, and to hit them with timely and relevant information.
Have Conversations Like an Actual Human
Aside from objection handling, entering your calls the right way, and other skills like successful sales discovery, and effective closing, the most important thing is to not come off like you’re just reading from a script. Real estate scripts can be valuable, but you can’t just mindlessly read. Use the script as a starting point but then have a real conversation. Respond to what the lead is telling you in a way that is tailored to and makes sense for their specific situation.
That’s how you get people to respond to you.
But this is just a brief overview. You have to learn, practice, and master objection handling, discovery, closing, and more. And that’s exactly what our training will allow you to do.
Want to become a master at real estate cold calling? You need a proven road map and a coach to hold you accountable. See how you can do it here.