Cold Calling - WTH am I doing wrong?

Question

Hey,

So I have begun my career as a commercial real estate salesperson just about a month ago and have yet to set an appointment.

I am looking for some advice from the pros on here.

I have called hundreds of people but quickly get shot down. I feel like I am calling someone that 50 other brokers have already called on and by the time i get to them they are ready to strangle me through the phone.

My opening usually goes something like this:

"Hi, I am XXX from XXXX. I was calling in regards to your property in [Location].  I am currently working with a couple potential buyers who are anxious to buy in the [location] market.  Would you happen to be looking to market your property?"

Usually that is interrupted with a stiff "No, we are not buying! And no we are not selling! Goodbye!"

If they are nicer and dont hang up right away I try to get them to let me do an analysis on their property.  This has yet lead to any appointments or even an opportunity to do an analysis on their building.

Does anyone have any suggestions?  What do you usually say to them when they give you a stiff "No"?

I am not afraid to cold call.  I just cant seem to get through to anyone willing to hear me out.  I have tried the more natural way... such as "Hey XXX, my name is XXX with XXX.  How is your day going so far" which almost always lands with a "do I know you?".  Then I just go on with my above script from there which ends with a "no way".  Once they hear I am from a RE firm they automatically shut me down.

Edit:  BTW I am calling on a "Farm List" of my area given to me by the title company.

Curt Davis · Answer

It sounds like the people you are calling are not even interested in selling?  That is your first problem.  I only call for sale or for rent listings.  Many of the for rent are really owners wanting to sell but have never thought anyone would want to buy it.  I have a specific script for this type of situation but it would take too long to type it out.  Good luck

Michael Quarles · Answer

Cold calling is a numbers game. If you can check into MikeFerry.com... He seems to be the go to person on cold calling techniques.

You also may want to look at Floyd Wickman...

When cold calling you should be happy that others are also calling and that the prospect gets the "No" out of the way fast.

Others who cold call are setting the foundation mentally to think about selling and the more No answers you get the more Yes answers youll get..

Also understand that a NO is a reaction statement. People say NO without even thinking.

Good luck

Don Drofed · Answer

I think it also depends on how you go about talking to the potential buyer. If you sound pushy at all, most people will shut you down without even hearing what you have to say. If you're polite, and nice to them they may give you an ear.

Billy W. · Answer

Thanks for the replies everyone.

Yes, I am calling on a farm list from the title company.  The list gives me the property owners names and I seek out the phone numbers and give them a call.

@Johnny ... yes I agree.  I have tweeked my script from talking about I have buyers if you want to sell.

Johnny P. · Answer

Your list is from the title company?  Is it a list of owners in your area and their phone numbers?

Here is my opinion of what the problem is... you are going directly for the "I have buyers if you want to sell" approach.  Commercial deals don't happen this fast.  This works for wholesaling FSBO single family houses but not in commercial.

Why would they list with you if you are not expressing to them how you can add value?  Instead of asking if they want to sell, i would recommend asking if they would like to meet with you and discuss their strategy with that particular property.

Joey Wang · Answer

Bill, if you just started about a month ago and have made hundreds of calls, then reward yourself. Then keep it going. Persistence is key.

Rob Gillespie · Answer

Billy,
Get yourself a U.S.P. (unique selling proposition) If you are singing a different tune than everyone else that calls, you will grab some interest.

good luck, it is completely a numbers game! :mrgreen:

Kevin Yeats · Answer

Check out www.SnapSelling.com

I have read both of her books twice

Billy W. · Answer

Thanks for the reply.

How do you guys typically respond when someone tells you that they are not interested in selling their property.  Do you press them further? If so, how/what do you typically say?

I will usually end the convo after they give me a firm no. I feel like I should be a 'better salesmen" and push them further... but I also feel uncomfortable pushing someone when it def sounds like they are not interested.

Cold Calling - WTH am I doing wrong?

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