Cold Calling for Real Estate Investors

Dial tons of numbers from your list, and check how many deals you have cracked. Much lower than your expectation? Being a cold caller is not easy, especially when you are giving cold-calling services to real estate investors.

But there are people who generate more leads every day. How do they do it? Today, we are going to help you with the secrets that other successful cold callers use in their strategies.

So, without any further delay, start with the steps that will bring more real estate leads.

How to Do Cold Calling For Real Estate Investors

To get the best results from your cold calling efforts, there are several factors you should consider before dialing numbers for real estate investors. Let’s take a deep dive into these factors:

1. Research Your Prospect

You start with a list of numbers and start dialing without knowing if they want to buy or sell their property, which will only bring you rejection. So, the best you research your prospects to cold calling for real estate investors.

Start with marking the demographic and areas where the buying or selling properties demand is high. Make a detailed buyer persona of your ideal leads, like their income, age, property demand, past record of selling properties and so on.

Some proven strategies to research prospects for real estate investors you can use are,

• Circle prospecting.
• Host community events.
• Contact FSBO listings
• Email marketing
• Utilize LinkedIn.
• Use real estate databases.
• Nurture past clients.
• Partner with local businesses.
• Use CRE prospecting software.
• Build a strong online presence.

2.  Identify Target Leads & Build a Quality Contact List

Once you are done researching your prospects, identify the target leads only. This will save you time and only take you to the warm leads who actually convert. A list of potential leads for real estate investors are,

These will be your target audience as real estate leads, but not all of them are quality leads. So, narrow down your lead list and fill it with quality leads before you start segmenting it. Create segments like who is highly likely to convert based on their interests or others.

You can use forms on your websites and social media channels. Also, make the signing process simple. These are called organic leads and a high chance you can seal the deal with them in no time.

3. Must-Have Tools to Do Cold Calling for Real Estate Investors

To be successful with your cold calling for real estate investors, you can not skip using a tool. Now, instead of juggling which tool to use or why to use, here are the top 5 must-have tools you need in your cold calling. Start with them; then, you can switch or try others based on your needs.

Firstly, there is the auto-dialer software. These types of software not only auto-dial the numbers but also let you record calls and leave voice mails with a built-in CRM system. Check options like Mojo Dialer, PhoneBurner, and CallTools, and select a good dialer for your real estate cold calling.

In case your auto-dialer does not have a CRM system, you can use separate Customer Relationship Management (CRM) Software. You can keep detailed records of potential sellers and do other tasks. Popular CRM’s are Salesforce, Zoho CRM, and HubSpot.

Lead generation & email follow-up tools should be your go-to software for real estate lead generation services. There are PropStream, REIPro, and Realeflow lead generation tools, along with Mailchimp, ActiveCampaign, and GMass for follow-up tools.

Lastly, do not skil real estate market analysis tools to understand market conditions and property values. Zillow, Redfin, or Realtor.com are great tools to use.

4. Personalized Scripts Using Buyer Pain Point

One reason cold callers can not get leads is that they lack personalized real estate cold-calling scripts. If you can hit the buyer’s pain point and use it in your script, then you will have hit the jackpot.

Before you start dialing numbers, it’s crucial to prepare a personalized script and understand your prospect’s pain points. Your script should include an engaging and compelling opening statement. 

Additionally, your pitch should be conversational and include open-ended questions to encourage dialogue. Lastly, pay careful attention to your closing statement, as it leaves a lasting impression on the person you’re calling.

Example Of Scripts

Here are three different situations and examples of real estate investor scripts you can use.

Script 1: Pain Point – Financial Strain

“Hi [Homeowner’s Name], my name is [Your Name], and I’m a local real estate investor. How are you doing today?”

Wait for the response of the seller. Then,

While researching the home sellers in your area I ended up with you and see you are struggling with selling your property, right?

The prospect will reply positively.

“I specialize in helping homeowners who are looking for a quick sale to avoid financial strain. We buy properties as-is, which means you wouldn’t need to make any repairs or worry about additional costs. Would you be interested in discussing how I might be able to help you move forward without the burden of your current mortgage?”

If the client says yes,

“If it sounds like a good fit, I’d love to schedule a time to meet and go over your options. We can discuss how to get you out from under your mortgage and avoid any further financial stress. Does that sound like something you’d be interested in?”

Script 2: Pain Point – Property Maintenance Overwhelm

 “Hi [Homeowner’s Name], this is [Your Name] calling. I’m a real estate investor in [City/Area], and I hope you’re doing well today.”

Wait for the response of the seller. Then,

“I know that owning a home can be a lot of work, especially when it comes to maintenance and repairs. Older homes, in particular, can require a lot of time and money to keep up with. I’m reaching out because I specialize in buying properties that might need a little or a lot of TLC. Is that something you’re dealing with right now?”

The client will say yes or something else, then try to close the deal.

“If it sounds like something that could help, I’d love to come by and take a look at the property. We can discuss a fair cash offer that takes the property off your hands as-is without the need for further repairs. How does that sound?”

Script 3: Pain Point – Life Transition (Downsizing, Divorce, etc.)

“Hi [Homeowner’s Name], my name is [Your Name], and I’m a local real estate investor. How are you today?”

Wait for the response of the seller. Then,

“I work with homeowners who are going through big life changes, like downsizing after the kids have moved out, relocating for a new job, or even going through a divorce. I know these transitions can be stressful, especially when it comes to figuring out what to do with your home. Are you currently in a situation where selling your home quickly might make things easier?”

“What’s your current situation? Are you looking to sell quickly due to a change in your living arrangements?”

If you end up with the right prospect, they will say yes, then your cold calling script should be,

“If you’re open to it, I’d be happy to discuss how we can make this transition smoother for you by taking care of the sale quickly. We can set up a time to meet and go over the details. Does that sound good to you?”

5. Set The Clear Goal

When cold calling the goal should not be closing the deal, instead try to give real estate appointment setting services for the real estate investors. So, you need to set your goal clearly at the beginning of the day to generate more and more warm leads.

You can start by targeting a fixed number of calls per day and leads per week and setting appointments.

Take all the preparation before calling a prospect, like a personalized script, or stay calm.

Try to be flexible and comfortable with your cold calling. Practice the script to sound natural, not robotic. Try to connect with the client and be their friend and advisor, which will increase the chances of generating leads.

6. Engaging Introduction & Personalizing the Conversation

Cold calling has a lower percentage of success because, most often, cold callers sound strictly professional. But you need to remember when you cold call for real estate investors you are calling either homeowners or tenants apart from B2B clients. This type of seller needs to be connected with you so they can trust you and sell their properties.

The first tip for commercial real estate cold calling is a nice, short intro. The whole success depends on your first expression which is your introduction. Try to keep the introduction part very precise, in a friendly tone with a warm greeting.

Next, the more personal your conversation, the higher the chance of conversion. We already talked about highlighting pain points. Try to be the advisor of the client, even if they are not converting.

7. Always Ready To Handle the Objections and Rejections

In a cold caller journey, they face tons of objections and rejections. Some callers become demotivated, which brings no good for sure. So, it is best you always get prepared to handle objections and become motivated again.

You can remind yourself about your achievements from the time you sealed the deal. Give yourself a short break and mentally prepare. Then start again with double motivation and show confidence in your tone. You sure can give the best cold calling services for real estate investors.

8. Setting Appointments and Follow-Ups

Mae your own cold calling strategy to generate leads and set more appointments. You do not need to convert the prospect instantly; instead, you can set the appointment and deliver it to the real estate investors.

Next, do not forget one of the most powerful strategies, which is follow-ups. Regular nurturing of your relationship with the sellers can make them turn into clients. Update them about your deals through email regularly. If someone is interested, he will surely contact you.

Best Practices for Cold Calling For Real Estate Investors

You are done with the steps you can use to cold-call real estate investors. Now, let’s see how you can best practise them by following some tips.

1. Call at the Best Optimal Times

You need to remember your prospects may not be free, and they may be in the middle of something or at work. So, you need to be careful when you are calling them. For example, the early hours of the day are the worst time for cold calling. Try to choose the best time to cold in real estate.

2. Keep the Conversation Casual & Inviting

Most importantly, try to keep the conversation friendly, casual, and inviting. Do not directly pitch for your sale; the seller does not like this approach. Instead, try to get involved in the conversation. The more you can get engaged in talking with prospects, the more they will trust you. Sooner or later, they will surely become a warm client.

3. Don’t Forget Your Goal

You can get overwhelmed sometimes by handling several rejections. Or the client may behave rudely, and you fail to be willing to finish your goal. By doing so, you won’t be able to succeed. So, the best thing is that no matter what happens, you continue cold calling according to your goal.

4. Do Not Pitch Early

We already mentioned why a direct sales pitch is not beneficial. Try not to pitch early if the prospect is engaging in the conversation. You should try to know the pain points and tell them how partnering with the real estate investors can best help them. Then lastly, close the sale script.

5. Ask Open-Ended Questions

Never be afraid or hesitate to ask your real estate leads open-ended questions. They are going to sell their home or commercial space. There are many requirements or documents you need to be clear with. Sometimes, you may not have figured out the pain point before, so ask them directly. 

6. Learn From the Rejection

Now, when you experience rejection, instead of getting demotivated, learn from that. With your first rejection, you may not be able to handle it. But try to handle the same inquiries next time. You can adjust your real estate investor cold-calling scripts accordingly. In cold calling for real estate investors, you will need to be very adaptable.

Conclusion

When you start by researching your prospects, using digital tools, setting goals, and nurturing the leads, you will surely get more leads for your real estate investment business. Cold calling now is not something you start dialing and directly giving your sales pitch. You need to make the conversation personalized and follow more tips. Now, as a real estate investor, if you are thinking of handling this critical strategy yourself, then the possibilities are you may divert from the core tasks of your business. That’s when CallingAgency, one of the leading telemarketing comes to help you. We have dedicated real estate cold calling services target for real estate investors.