Cold-Calling from the Phonebook

[Martin CS]

Has anyone tried cold-calling from the phonebook for leads? I got this idea from my agent who does this to get listings.

I am wondering how effective this could be for finding seller leads? I would have someone do this for me as I would not sit on the phone for hours and deal with the headaches that come from telemarketing.

I am concerned about possible fines because of the Do Not Call Registry list. I don't want to get hit with any large fines.

Should I leave message with phone # and website? I could get lucky and get a motivated seller or have a pissed off person easily give me into the above list.

Anyone tried it and would you do it based on a possible fine from the FTC?