Contrary to popular belief, cold calling still works.
According to Xant, the $2B sales solutions provider, cold calling produces at least a 5-10% conversion rate when done the right way.
Done the right way.
What this means is that you have to prepare a cold calling script before you even pick up that phone.
But how do you do effective real estate cold calling scripts?
Here, we’re going to give you 9 tips.
So shall we?
Tips to Writing an Effective Real Estate Cold Calling Script
Before we dip our toes any further, let’s set some expectations.
The cold calling scripts we will be showing are meant as samples. They are not meant to be used verbatim or to the letter.
For the simple reason that:
Cold calling scripts are meant to be as personal as possible to gain a connection with your prospect and offer your services with their particular needs.
You can’t do that if you’re going to use our script, which was not designed for the unique characteristics of your intended market.
Now that we’re on the same page, let’s get you started.
Tip #1. Know Who You’re Talking To
We’re not saying you have to research every person you’re talking to, but you have to know them, in general.
To understand your target market, be sure to know their:
- Income level
- Buying behavior
- Other characteristics that are essential in understanding your prospects
All of these basic details can give you a hint of how you may communicate with them.
Tip #2. Know Everything You Need to Know of Your Service/Property
Another key component that most cold callers don’t do is basic research.
You have to know what you’re talking about to gain your prospect’s trust.
As a real estate professional, you would have to know the basic information about your properties like:
- General square footage of the properties in the target area
- Amenities and public facilities around and on the property
- Mortgage/rental rates
- General property layouts
- General exclusion and inclusions in rental contracts and sale contracts
The reason for this is that you need to present to your prospect that you’re THE MAN or WOMAN for the job. And they can count on you.
Plus, your prospect’s needs will not necessarily be always in your script. And it’s not good if you have to tell them you’ll get back to them just to answer a basic question.
Tip #3. Treat Your Script as a Guide, NOT a Speech
Even though they are called cold calling SCRIPTS, they are not necessarily going to be used to the letter.
It’s because you need to make a connection. And you can’t do that if you’re not responsive to the person on the other line.
That means when they’re telling you they need an apartment, don’t sell them a house.
RESPONSIVENESS is one key element of cold calling.
You only have your script to let you know what to do or say at appropriate moments during the call. Don’t stick to it when you can’t.
Tip #4. Appeal to Their Pain Points
Your cold calling script should empathize and appeal to the pain points of your prospects.
You can only do this effectively when you understand your market. That’s why Tip#1 is very important.
If, for instance, your town’s population are mostly working parents, your cold calling script will have to be centered on the property’s advantage on family wellness, safety, and convenience from public facilities.
That’s how you get their attention.
Tip #5. Introduction Script Under 5 Seconds
Your introduction is very crucial in getting someone to talk to you in their time. Remember, the other person on the line DOESN’T NEED to talk to you.
In your introduction, you should:
- Greet your prospect
- Acknowledge them by name, if possible
- Introduce yourself and your company
- A sentence explaining your call including a spiel to catch their attention
“Hello (Prospect’ Name)! I am (Your Name) from (Company or Organization). I’m calling because of a property near downtown that’s now 50% of its original rental price. Will you be interested to talk more about this?”
After you’ve said your spiel, wait for the client to respond.
Whatever the response is, be sure to empathize. That way, your prospect knows you are listening and not just wanting to sell.
Tip #6. Persist but Don’t Insist
When the clients say they are busy or it’s not a good time to talk, appreciate the client and ask a follow-up question.
You must have been very busy and tired. I appreciate you answering my call. Can I call you back? Or, may I know the best time to call?
Make your client feel you are willing to go the extra mile for them.
Tip #7. Get to Know Your Prospect More
Now that the door has been opened for you, you’ve got to build rapport. Let your prospect tell you what they need in terms of real estate services and products.
If your prospect is asking for something that’s not in your script but is still about acquiring or selling their property, do your best to get the answer.
If you can’t, give them other options or let them know you’ll look into it and call them as soon as possible.
Tip #8. Always Ask for Referrals
When ending a call with a potential client, you need to take the opportunity to ask for referrals.
Referrals are about 50% to 80% reliable. That’s because people that are referred to you most probably need real estate professional services or products.
Tip #9. End Your Cold Calling Scripts Accordingly
When you’ve already gone over for about 10min to 30min of conversation with the prospect, chances are they are interested in what you’re offering.
So don’t forget to set up an appointment. State the date, time, and meeting place. Then add your closed-ended question.
“Are you available next Monday at 2 P.M? We can meet at (state the location). “
“Would you like to make an appointment to check the condo? I am available next Monday at 2PM. We can meet at (Location). Please let me know if you are good with the date.
Always be courteous and sound confident throughout the call so you can close the deal.
So those were the 9 most important tips to consider when planning a real estate cold calling script.
Now, you’re ready to write that convincing and winning cold-calling script. Always keep in mind our guidelines so you could come up with a cold calling script that’s both enticing and wise.