Dec 11
25
The world of commercial real estate sales and leasing has changed and how you prospect has changed with it. Today the telephone cold call replaces just about everything else in getting appointments. The telephone if used consistently and well, will build massive opportunity and market share; it just takes practice.
The thing is that cold calling requires a skilled and focused salesperson that can and does make the calls on a daily basis. This is hard for many salespeople as skills and dialogue should be improved if cold calling is going to work well for them.
Much has been written about the process but the same rules apply at the foundation of it all:
Make the calls every day at the same time so it becomes a habitResearch your market so you can systematically move through a zone or property type and capture any active or potentially active listings coming upDevelop a mindset of call contact so that you are just seeing if the person has a need for what you have to offerKeep a ratio of at least 50% new calls to 50% repeat calls in your time allocation for calls (in only that way will you create growth)Every lead or opportunity should be entered into a database that records the stage of interaction or the pipeline that you have runningIt takes time to create a meeting with some people so ensure that you repeat your calling process to qualified prospects at least every 90 daysStop pitching on the telephone and start connecting (most people will stop the call if you pitch)Track your call numbers and your conversions to meetings so you get to know when you are improvingIt takes about 3 calls to the same person over an extended period of time to get them to agree to a meeting.
All of these rules apply in the call process to find new business and listings in commercial real estate. Be aware of the local laws and legislation that applies to telephone canvassing, and adjust your processes so you do not breach those laws.
So just how much time should you apply to the call contact process? A full 40% of your working day should be spent in prospecting. That can be a challenge for most salespeople as distractions and demands will generally disrupt your diary and day.
In summary you should set the rules and stick to them. In only that way will cold call canvassing and contacting become a core part of your real estate prospecting system.
If you want more tips and ideas to help your real estate prospecting you can get a free eBook right here at http://www.commercial-realestate-training.com/
John Highman is an expert real estate author, conference speaker, and coach. He helps Real Estate Agents to improve their market share, negotiation skills, listings, and commissions.
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