Tips for Creating a Cold Call Script for Real Estate Prospecting
Your palms are sweaty. Your voice is quivering. Your nerves are on edge. And your self-esteem is hanging on by a thread. The diagnosis? Cold-call-itis.
When it’s time to cold call your prospects, there’s nothing worse than feeling completely unprepared. Let’s remedy that.
In this post, we’ll help you come up with a cold calling script that you can use over and over again to grow your real estate business.
You may be thinking: is a cold calling script really necessary?
Yes, it is, especially when you’re just starting out. Here are a few reasons why:
You have dozens of cold calls to make every day. You need to know exactly what to say so you don’t have to come up with something fresh each time.
Real estate is a numbers game— the more people you can introduce yourself to, the better. With a script, you’re able to quickly introduce yourself without fumbling around.
Cold calls have a well-deserved reputation for being scary. We’re often afraid to cold call because we’re worried about our ability to connect, get to the point, and close the deal. By following a tried and true script, you’ll know that you’ve hit all of your key points.
While you could wing it, it’s so much better to have a script.
Now that we’ve discussed the virtues of using a script, let’s take a look at two scripts that you can make your own.
“Hi. Is this (first name)? My name is (name). I'm with (name of your real estate company). I'm calling you because my company has buyers who are currently looking for homes in your neighborhood. Would you be interested in selling your home in the near future?”
Why this script works:
Relatable. By using the recipient’s first name, you appear more relatable, and they immediately become more invested in what you have to say next.
Urgent. By using words like “currently” and “near future,” you create a sense of urgency to your call. You’re prompting the recipient to act right away.
Demanding. It’s demanding in a good way. The question at the end forces a quick answer.
“Hi. This is (name) with (name of your real estate company). I'm calling to find out if you'd consider selling your home soon. [pause for a response] There’s a huge demand for homes in your area recently, and I’d love to discuss how much I think you could sell for. Is that something that you’d be interested in?”
Why this script works:
To the point. You’re not fishing around for the recipient’s name. Instead, you’re quickly identifying yourself and the reason for your call.
Urgent. Again, using words like “soon” and “recently,” you’re driving the point that the homeowner needs to act now.
Asks a question. Always end with a simple question for the recipient. Stop short of tacking on extra statements to the end of that question. (An example of an extra statement would be: “If so, I’d be delighted to set up a meeting with you.”) Don’t overwhelm the recipient with too much information.
Before you pick up the phone, here are a few things to keep in mind so that you make the most of your time.
One of the benefits of being a new real estate agent is that you have more time to research your prospective clients. Before you call, take a few minutes to look up the recipient on social media. You may know the same people or have other things in common that you can use to your advantage on the call.
Every day, before making your cold calls, browse through your local market data to make sure that you have the most recent information. Market conditions can change quickly.
If you’re still getting used to the script (i.e. you find yourself glancing at the script every now and then), it’s best to go over your pitch aloud before starting your cold calling session. Besides, you don’t want to sound like you’re reading off of a script. The more you rehearse it, the more natural it will sound.
Rejections and cold calls go together like peanut butter and jelly. It’s pretty rare to cold call someone who's actually waiting for your call. Most people aren’t expecting a real estate agent to solicit them out of the blue about selling their house, so they may outright reject you out of surprise. Know that it’s coming and always give them an alternative: Offer to contact them back in the future after they’ve had an opportunity to think about it.
When following a script, remember to include these elements:
As we discussed above, no one wants to receive a solicitation call. Be sensitive to that. If it’s clear that the other party wants out, don’t waste your time or theirs. (But don’t forget to follow up.)
Instead of viewing cold calls as self-serving marketing tools, consider the fact that you’re actually providing the recipient with valuable information and the offer of your services. When you shift the perspective, it helps you enter each cold call with a little boost of confidence.
Did you know that a smile can be “heard?” Smile. Be enthusiastic. Be excited. Convey your passion in every call that you make. Your energy can transfer.
Don't try to sell them on the first call. Your recipient may not be fully convinced about selling their home or selling it with you, but if they’re willing to meet with you, that’s a win. The ultimate goal of your cold call should be to establish a relationship with a prospective client. While they may not need your services now, they’ll likely need you in the future (whether that’s to buy or sell).
The follow-up is when the magic happens.
Some of your cold calls will result in meetings, but on average, the majority of them will not. Most of the people that you call will fall into two groups:
Group 1: Not interested
Group 2: Want to think it over
Fortunately, you can handle both groups the same way: Follow up.
While you definitely should call Group 2 back sooner than Group 1, it’s important that you follow up with both of these groups eventually. End each call with an offer to follow up, such as:
Group 1: Would it be okay if I add you to my mailing list so that we can keep in touch in case you have any real estate needs in the future?
Group 2: Can I speak with you again after you’ve had a chance to think about it/ talk it over? Say, next Monday at this same time?
While cold calling may not be one of your favorite activities as a real estate agent, it will definitely help you expand your business. Think of it this way: Cold calling gives you an advantage that bigger agencies don’t have— the personal connection. You can use cold calling to build trust one person at a time.
Use the above tips to create a quick and easy cold calling script. And before you go, check out these related posts:
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