Is door knocking worth it, how to buy name and numbers to call?

Question

Hello,

Ive had my RE license for a year and haven’t used it yet but will be working with Keller Williams as they offer great classes and marketing strategies. I want to work with them for a year then get my brokers license so I can keep all the money I make. I was wondering, does door knocking really work and is there some type of company that sales names and numbers of home owners for me to cold call? Thanks in advance

Frank Wong · Answer

Hello Mercedez,

I know agents that do it and it works.  For me personally, I don't because it's not my style in generating business.  If you are new, I suggest doing a bunch of open houses for all the agents in your office.  I would do an open house every Saturday and Sunday for a different agent so you get to meet new buyers and sellers for each area.  Each open house can generate buyer leads and seller leads.  Lots of neighbors come in and look and if you impress them you might get a future listing.

I would make sure you know everything about that house like you are listing it.  So many times I see agents doing an open house for other agents and don't know crap about it.  Makes you look unprepared and buyers and sellers don't want to work with an agent like that.  Yes, it is more work but worth your time.  First impressions in real estate are everything.

You mentioned you want to work for KW for a year and get your brokers license so you can keep everything.  That's great you are so ambitious but honestly Slow Down Slow Down.  You need to crawl before you can walk.  Your first-year focus should be to learn the business from KW and their agents.  Work and make money.  Gotta make sales in the beginning to survive.  What you are paying in commissions to KW is well worth it.  You have a brand, a big company, a broker to go to, agents to go to, templates to use etc.  It's very hard and in my opinion impossible to go on your own after 1yr in the business.  Just my 2 cents.

Hope this helps and best of luck to you.

Chrissy Parsons · Answer

@Mercedez H. You need to be aware of cold calling and the Federal Do-Not-Call requirements. Due to the number of spam call we all get, it's obvious the government isn't enforcing it well. But remember why the laws were passed in the first place. People don't want to get sales calls at home.

A better bet might be to do some mailing.

If you want to focus on listings, you could target Seniors with Long-Time Ownership (ready to downsize or transition to assistance) or Homeowners with Low Financial Stability Scores. If you do the leg-work, one of the other brokers might pitch in to help with the cost.

If you want to be a buyer's agent, consider partnering with a mortgage broker to run some first-time home buyer seminars (or meetups). For this, mail to renters, age 30-55 with an income appropriate for your area.

A list broker can help you to refine the criteria.

Mercedez H. · Answer

Those are some excellent ideas, thank you so much! I will definitely take those laws into consideration. I will start looking for mortgage brokers to connect with

Mercedez H. · Answer

Thank you so much Mr. Wong, your advice is very appreciated and I will definitely take it!