In a commercial real estate agency, cold calling can be a frustration if you do not set some rules and stick to the process. The real issue here is that the call process can help you as an agent build your market share quite quickly, but it does take effort and focus on the part of the agent.
So let’s look at the rules and the system Newport Residences Condo behind a good cold call prospecting model for commercial real estate agents. Here are some issues and strategies:
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- Knowing what to say and how to say it will require practice and skill on the part of the agent. The calls that you make should not be to ‘pitch’ your services. It is too difficult to ‘pitch’ commercial real estate agency services across the telephone. You should be making the calls to connect with a number of people to see if they have a need or an interest.
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- In making the call your ultimate goal should be to create a meeting with the right people. To a degree you should be qualifying them as part of the call. There is no point in meeting with someone that has no long term benefit for you.
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- The ‘trust’ factor in commercial real estate is quite important. The cycle of commercial real estate ownership and occupancy is long. It can take months if not years to connect with the right people and build the right levels of trust.
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- Every agent should merge new calls into their prospecting model. Every day they should be making more calls to new people that they have not connected with before. The process has to be a daily habit if it is to be successful. That is where the ‘discipline’ of the process comes in; it takes effort and skill to get good at making lots of calls to new people and talk to them about property issues. In simple terms you must practice. The easiest and best way to do that is first thing in the morning when you first arise.
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- There is a good degree of research behind making the right calls. Each evening you should be using the internet, business telephone books, and any other resources to find people to call and talk to.
- Each day you should devote about 2 or 3 hours to the call contact prospecting process. In that time you should be able to reach 15 people and have a reasonable conversation with each. From that number of contacts you should be able to create 2 new meetings with relevant property owners or business leaders that will one day need your services.