COLD CALLING ADVICE NEEDED!!

8 Replies

Hello all,

I am adding Cold Calling into my weekly marketing schedule.

As of now I use bandit signs, FB ads, Direct Mail, Door knocking and a few other marketing strategies but have literally ZERO experience cold calling to find deals.

Here are a few things I am curious of.

-What list(s) are you calling?

-Where are you getting phone #'s?

-How often are you contacting them?

-What automation(if any) are you using?

If you could please provide me with some advice on this topic I would greatly appreciate it!

Thx,

Alex Lambert

I have done a lot of cold calling in the past. It can be brutal! If you are going to do it, you will need to have some thick skin. Cold calling is not for the faint of heart. You will face a ton of rejection and you will deal with some angry people. You have to be able to brush it off and just keep going. Just don't take anything personally. Remember, they are rejecting what you are offering, not you as a person. Some people are just not cut out for it. Some can do it but don't really like it. Some people love it. Personally, I hate it. It sucks! It is not fun, takes a ton of time and drains me mentally, which is why I pay someone to do it now. 

Find what you enjoy and do those things Outsource the things you don't enjoy doing. If you don't enjoy what you are doing you will never get very far with it. And life is too short to spend any time doing things you don't enjoy!

For lists to cold call, I recommend creating a "super list". These would be leads that appear on two or more lists such as on both a driving for dollars list and a tax lien list. Any lead that appears on two or more lists will be more likely to be a truly motivated seller.

You will need to skip trace for phone numbers. There are many companies out there that can do this nowadays. You can get emails this way too.

The number of times to contact will depend on the situation. Once you actually get someone on the phone you can determine within a few minutes if they are truly motivated or not.

Thank you very much for your feedback Braden! I have a VA so this will be something that I eventually outsource, but I am wanting to get a good understanding of what it takes to get leads coming in with this strategy before assigning the task.

Thanks again for your advice.

Originally posted by @Alex Lambert :

Hello all,

I am adding Cold Calling into my weekly marketing schedule.

As of now I use bandit signs, FB ads, Direct Mail, Door knocking and a few other marketing strategies but have literally ZERO experience cold calling to find deals.

Here are a few things I am curious of.

-What list(s) are you calling?

-Where are you getting phone #'s?

-How often are you contacting them?

-What automation(if any) are you using?

If you could please provide me with some advice on this topic I would greatly appreciate it!

Thx,

Alex Lambert

 Hello Alex...

As mentioned cold calling can be brutal however very profitable. Besides the experience youll gain talking to people will come in handy later...

Lets start with automation..

In the old days we had a binder system that we would use with days of the month dividers and a property profile we would insert into the appropriate date. Everyday we would open the binder and call all of the contacts for the day...

Today's CRM is a lot easier... Heck we can call out of our CRM and it auto schedules to call and if I wanted it could auto blast dial for me. I find that it is better to make live calls however. 

As to list. The good list IMHO is on zillow.com just use their search tool for FSBOer and FRBOers and make an appoint to buy a house. The other good list which isnt really a warn list are car magazines and junk sale magazines. Reason is is that there is a coloration between selling junk (decluttering) and moving. Besides these people will answer their phone since they have placed advertisement somewhere.

The Best list to cold call and its not really a cold call is  the list of contacts saved on your phone. 

After that all of the past callers. from day one of marketing.. Problem there is most people dont have a way to auto create that list.. We have solved that issue.

You didnt ask about a script however here is ours..

Hi, my name is __________with I Buy Houses… We are looking for 3 and 4 bedroom homes in your neighborhood…And I was wondering…who do you know that is looking to move out of your area? (No one) Fantastic!

Thank you for taking the time to think about it.. By the way

Have you thought about selling? (Their Answer) Terrific!

If they want to sell go to your standard questionnaire if not thank them and hang up.

Lastly we track everything and use this with success. Tracking Form

Good Hunting

Originally posted by @Alex Lambert :

Thx Michael!

I appreciate you sharing your knowledge with me.

There is a lot of great stuff here!

One Question

-What CRM are you using that autodials?

 Hello Investor @Alex Lambert 

I use the CRM in my signature. I cant actually type it since it would be self promotion. Someone else can type it however. 

@Alex Lambert based on the number of phone calls we all get, it is obvious that the FCC isn't enforcing the Federal Do-Not-Call regulations. You should however be aware.

https://www.ftc.gov/tips-advice/business-center/gu...

Michael has a good tactic - very general. Whatever you do, NEVER mention that you have any personal knowledge about them. If they are on the tax lien list, do NOT say anything about helping them with their financial situation. That's the easiest way to get someone screaming mad.

@Alex Lambert FSBOs have been my bread and butter for 18 years. I get very few angry sellers and on average about 30% are interested in what I'm offering, the rest politely decline.

I only contact them once unless they ask me to call back.

And I don't use any automation.

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