Cold Calling Strategy and Scripts

August 31, 2021

Learn Commercial Real Estate

Empower Yourself

Commercial Leasing

Happy New Week,

I hope you get some great ideas this week on how to forward your dreams.

This week is all about Cold Calling.

We all know as real estate professionals cold calls outreach is a major part of the real estate game winning strategy.

We can't expect all of our efforts to be wrapped around social media and networking events.

We can't expect all of our leads to come from the internet, even though you may put so much time and energy into internet branding.

The thing is, before social media and the blow up of the advertising industry, the best way to get a message to someone was calling them on the phone, knocking on their door or sending a letter.

In my practice and efforts I do all three. I have literally knocked on the door of a Landlord's actual house, because I could not reach them by phone and they were not answering my letters.

This approach doesn't work for everyone, and I am not recommending it to everyone, but I am sharing what I have done and will do if needed.

I always use common sense and good judgement. You do the same.

Today we are focused on cold calling and it rings true now more than ever that in a world of text messaging and cold emails - hearing a person's voice increases the opportunity in initial interest and lasting connection.

The art of letting your clients hear your voice is priceless.

In order for your to become the voice of your market - Your voice must be heard.

I have found the best way to make cold calls is to time block out 2 - 3 hours a day to make as many calls as you can. You can compliment with neighborhood walk-in prospecting.

Feel free to do more calls, but this usually will get you about 50 quality calls.

Out of this 50 calls you may speak to 11-15 people depending on the time or day.

There is a whole system to cold calling and blocking out not only time, but neighborhoods, area, districts, Product Type, Landlords, Tenants, Developers, Businesses, etc.

If you want to stay on top of your game you have to cold call.

Cold calling is an action item you must make time for each week. The more businesses and landlords you have in your CRM the better.

If you want to have a few ideas or events to chat about, check out the local hoodline in your area. Be creative.

Originally Reported, Hyperlocal Neighborhood News | Hoodline

I have found hoodline to be great when giving information about local retail news.

Have some information to exchange ideas for your calls to local business owners.

1. Comps from the specific area

2. Market reports

3. Things that may be easily printable or sendable for you, but hard for the average person to get

Before you call visit their website and take a quick read please.

You might even find the owners information there so you can call and ask for your soon to be future client by name.

This is part of the strategy I created that will be covered in the Calling to Connect Mastercourse releasing soon.

Know who you are calling. Look them up in google to gather any information.

Put this information immediately in your CRM along with business name, owners name, property address , website ,and any other information you gathered. I would also do a quick property search in your MLS to find out anything else you can about the property.

Try this script out :

Script:

"Hi this is Divine with eXp Commercial, I am a local agent. I'm calling business owners to share some news about local (whatever your value add is). Are you the business owner?'

let them speak - "Yes, I am the owner. "

"Great my name is Divine, and yours is? Pause

nice to meet you. (Name) I champion local business owners in our area. (casual and relaxed tone)

Is now a good time to chat about the news (update) or should send a quick email?" (Be respectful of their time and the fact they might have customers)

" When is a good time to pop in to say hello"- Make the appointment

When you get in person, you can ask how things have been with their current lease during the pandemic

Please remember to use the phrase 'pop in to say hello" This implies your visit will be quick, light and there will already be a connection, but definitely get a day and time.

Using the words, planning ,stop, introduce myself" can sometimes seem " time consuming" to the business owner

Back to script

No: "this is not the owner this is the employee"

ok, this is Divine nice to meet you., what's your name?

"Awesome, (name) May I get the owners name and email address so I can shoot them over this info on the neighborhood? "

(Always use a positive word when you can to keep the conversation flowing your way.)

"It's just really great want to be up to date on what's happening around them" . ... and just pause and they will give it to you.

Always be nice and make a connection with employees from maintenance to Receptionist. I will keep saying this.

The employees of today are the owners of tomorrow.

Here is another script

“Hello, [NAME], this is Divine with eXp Commercial, I'm a local commercial real estate firm in [YOUR CITY].

I'm calling to make a connection, do you have a minute ? [PAUSE]

"Great, I am working with business owners in your area helping with locate new business space and I was wondering if you or someone you knew might be looking for more ( new or additional ) business space?"

"No ? Ok no worries, I should you send some comps from your area just so you can see what the market is doing? That will help. What's your email? "

Small Things Make a Big Difference

Stay on strategy and staying consistent is vital to the future of your pipeline. Keeping notes on all your conversations. Calling to Connect should be thought out

1. Know if you are calling to connect with Business Owners, Tenants, Landlords, etc.

2. Know who you are calling. Know that you are already a resource.

3. Present value exchange ( V.E)

4. Ask for the connection - ask for the permission to connect

Script:" I was calling to get your email address and introduce myself. "

" I want to make sure you know what going on in your market."

Different Point of View

Put yourself in the shoes of a busy local business owner. The stress of running a small business, especially these days can distract one from being up to date on local market trends, prices or happening.

In between running your small business they may have a family and other store locations.

They may be driving in from afar very early to leaving late at night. Spending long causing hours to busy to become unaware of the local businesses that have closed or opened.

Think about the local business owners in your area. What is the work culture of the businesses in your area?

How can you add value to these business owners and show you understand the work culture of local business so you become a valuable resource for commercial real estate in your market?

What Remains the Same

Important Must Haves : a NOTEBOOK ( You should have a notebook dedicated to cold calling.) This is where you will keep your notes and track your progress. I would love to see how fast you fill up your notebooks with juicy business connections.

You will write notes on the paper while you are on the phone . I would rather you not be looking into a computer or being a data entry clerk at this time, but instead a listener.

Keep your note book handy- make sure you write neat enough to read your own writing.

It's awesome if you need to double check on spelling of a name do it!

Calling to Connect is key. Making your calls and introducing yourself to local business owners is necessary.

It doesn't have to be weird or strenuous if you set yourself up for success early.

Can we get a commitment to get on the cold calls.

Our challenge is to make 50 solid connecting calls using the scripts above. If you have found other scripts that work for you please hit reply and share.

Please check out this video on imposter syndrome on our Youtube channel. Please subscribe and share.