Cold calling effectiveness and lead generation.

[Daniel Rosas]

Im  a new realtor. and I'm so excited to finally get started in real estate. To all experienced agents in your opinion how effective do you think cold calling is? what's the conversion rate? and also what marketing technique would you say has been most effective for generation leads BESIDES REFERRALS? direct mail, facebook ads, door knocking, open houses etc.

[Michael Quarles]

Originally posted by @Daniel Rosas:

Im  a new realtor. and I'm so excited to finally get started in real estate. To all experienced agents in your opinion how effective do you think cold calling is? what's the conversion rate? and also what marketing technique would you say has been most effective for generation leads BESIDES REFERRALS? direct mail, facebook ads, door knocking, open houses etc.

 Hi Daniel...

As a California Broker myself let me first congratulate you on your new career choice. Being a Realtor has great benefits and can be very rewarding and financially beneficial. 

As to cold calling for lead generation... I have a ton of personal experience in this arena and can state with clarity that cold calling carried out responsibly can generate enough leads to turn a new agent into a office powerhouse. Superstar status has its perks.

Here is what you can expect from an average perspective. 

16 calls per hour. A call is connection and a question asked. 

Cold calling cold 1:100. that means you need 100 calls to get one appointment.

Expired cold calling 1:15

FSBOers cold calling 1:20

FRBOers cold calling 1:25

The listing presentation is fairly easy to learn and needs to be down pat. Most listing agents will play in the ratios of 1:3. Meaning youll need 3 appointments to get a listing. Personally I closed listing appointments at nearly a 1:1.  Sellers are interviewing you to be their leader so make certain you stay in the leadership role. 

Calling two hours a day will easily get you 100 listing agreements a year. 

Things to do while cold calling and after.

• Schedule it into your day... Its not a maybe... It is required. I liked calling 9a to 11a and 3p to 5p. Monday thru Friday
• Stand up dont sit. 
• Let the phone ring 3 times then go to the next dial
• Use a double dialer. if both calls answer hang up on one and then call them back
• never stop until youre done. Not even for a seller who wants to see you now.
• Keep track of your calls. Use a call record so you can track times and groups which are more productive.
• use a system to track who youre calling tomorrow. If you cant afford a great CRM let me know and I will send you a easy binder system.
• Never let the NO frustrate you... Getting a no while cold calling is a positive event as they are needed to obtain a YES.
• Dont hide in an office away from other agents on the floor. Be a badass gorilla Realtor. Your respect both personally and from others will increase exponentially.
• Never undervalue you! A lot of prospects will say things like "I will list it but not for the normal listing fee" (Remember if you allow your seller to be the leader youll make a terrible negotiator when offers start coming in)
• Show up to the appointment early and do what is called a six pack
• Take multiple listing agreements. More than you think you need and always be ready to list other property the seller may own.
• Absolutely ask for referrals once hired. 
• Put the sign in the ground as soon as possible. Same day is best. (Signs will return about 8 buyer calls a month so make sure you have a buyers rep to refer them to... Listing agents dont sell houses they list them so dont get confused. Eventually youll have a buyers team working under your broker's agreement).
• And lastly stick to your script... Own it...  

Again congrats... 

Happy House Hunting