Cold Calling, Should I continue to use this method?

Question

I am new investor and curious about the effectiveness of cold calling motivated sellers lists. I've been cold calling for the past two weeks mainly using pre-foreclosure lists. I find that I'm calling numbers that don't work or talking to people that have been bombarded by other wholesalers. Is this method still viable in 2022 or are there other methods I should focus on. I'm here to learn.

Jay Thomas · Answer

Jarred,

Man welcome to the world of real estate. Even as an agent Cold calling can be overwhelming but it is a numbers games. Keep calling, calling and calling. Until they tell you "DO NOT CALL ME ANYMORE".  It takes one person to say yes to jumpstart your entire career.

Sebastian Hernandez · Answer

It's a numbers game, eventually you will get meetings.

I would suggest you go door-knocking which can be very effective

Eliott Elias · Answer

Put yourself above and beyond the rest! So many ways to build credibility, most times people just want to sell to people they can trust and are honest. Example: Instead of opening the call with "Hey is James there?"

Start with "James! This is Jarred, how are you today?

Wale Lawal · Answer

@Jarred Salubi

You can get your data refined by skip tracers and get good data to start with.

To be successful at the cold calling game, you must be doing more than dialing phone numbers and telling prospects you can sell their house.Add a sense of professionalism by practicing your cold calls before you make them. Once you’ve got a prospect listening, you’ll be able to steer the conversation in your favor.Whether you’re just touching base or looking to make ground with an old relationship, the strategy is the same: listen to their pain points, be empathetic and let them know you’re the right realtor to make ground with their property.Good luck!

Ty Coutts · Answer

I agree with @Jay Thomas! Even on the lender side of things, it is all about the numbers game. Perfect your scripts, be confident in your value you can bring to others, and keep plugging away at the calls! You never know where the next yes is going to come from.

Jarred Salubi · Answer

I appreciate the push and will continue my efforts. Thanks Jay!

Jerryll Noorden · Answer

Its like talking to a wall. I am telling you....

OK let me play along.

Tell me. How many wholesale deals have you done?  How many deals have you made through cold calling?

Now how many cold calls have you made? How reliable are you making your wholesale deals? Meaning.. how many deals do you reliably make a month? A week?

Are you even a wholesaler?

How many doors have you knocked on to find sellers that are willing to sell below market value?

I am not bashing you... (yet). I honestly want to know how credible you are giving other people advice as if you know first hand about cold calling, door knocking and wholesaling. So I think it is fair for me to ask.

Be honest.. Are you simply a contractor, or are you on the frontlines on the battle field hustling, finding motivated seller leads, cold calling and doorknocking trying to find motivated sellers?

OK ALL you wholesalers out there. How many of you are still trying to make it after constantly being told "keep at it, it is a numbers game".

Speak up... how many of you are still struggling? Who is brave enough to speak up? Aren't you pissed off that you wasted hunderds or even THOUSANDS of dollars doing what all these people are telling you to keep on going, when the only thing you are accomplishing is wasting your time and throwing money way? Fights with the wife about spending that money in vain? Don't you wish someone came along and told you 6 months ago that what you are about to do is a waste of time?

So speak up.

How many of you are still struggling, firmly believing  "it is a numebrs game"?  Break the silence!

Jerryll Noorden · Answer

Hey gang...

Allow me for a sec OK?

Answer me this.

2 football teams. One team trains everyday, the second team just eats pizza all day.

Team one beat team 2 100 times in a row.,

Coach of the second team puts the pizza eating team at ease by saying...

Don;t worry guys... we can't loose ALL the time. We have to win SOMETIME. It is a numbers game.

Do you agree with this? Do a google search on Law of Averages! Study it! Understand it. Live it, breathe it!

Now... About your perfect script.

Do you even know what a script is? No? I'll tell you.

A script is what you tell a seller in order to cinvince them to sell to you.  It is something you tell them to TALK THEM INTO selling their house to you.

Imagine you walk in walmart and someone taps on your shoulder and asks you.. "hey are you a home buyer? OMG YESSS I need to slel my hosue can you make me an offer?"

Now...

Do you need a script in this case?

No?

Why?

BECAUSE a script is something you tell someone to TALK THEM INTO selling their house to you. You didn't need a script here ebcause you do not need to cinvince anyone to sell.. They already want to sell..

SO

In other words, you need a script when you are dealing with NON motivated sellers. If they were motivated you wouldn't need one. Right?

So now look at your advise again.

All wrong right? Do you see it now?

The TRUE advise would be.. STOP trying to force deals to happen by dealing with people that do not want to sell. Instead find motivated sellers.

sigh....

guys seriously.. try to think a little. Success is not hard, just try to use your head. Nothing I said is genius level. It is simply common sesne.

Jerryll Noorden · Answer

Is that honestly the advise you give others?

Keep calling untill they are SO pissed off they break out yelling at you?

For Pete's sake man seriously?

It takes one person to say yes to jump start your carreer? Don't make me laugh. While you get one dael, you piss of hunderds of others. THAT is how you propose to "jump start" your carreer? have 99% of potential clients HATE your guts, as long as you mae ONE client happy?

Dude, come on man...  you are doing damage giving others this kind of direction.

Jay Thomas · Answer

@Jarred Salubi No problem man! I look forward to seeing your success. Don't burn out, if you feel yourself getting down and defeated, take a step back breath then try again. Whatever you do continue to push.

Cold Calling, Should I continue to use this method?

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