Right now, real estate agents should prioritise absentee owners on their prospecting list. Yet most agents don’t even know what absentee owners are.
Absentee owners are property owners who own homes where they don’t live, rental properties, or inherited properties. These properties possess a very valuable lead source for you, the real estate agent.
Why?
Well, there are thousands of absentee owners in every market, regardless of where you are located. What is interesting about this demographic is that the competition is very low.
Very few real estate agents have absentee owners on their list, but more closed transactions come from these absentee owners. If you think of these property owners where they don’t live, the vast majorityâ80 %âare going to sell at some point in their lives.
Today, I will break down my absentee owner script word for word so you can generate listing opportunities in the business you are starting right now.
1. When You First-Time To Call To Absentee Owner
Absentee owners give the best opportunity for circle prospecting to realtors. If you have such a listing, do not delay starting cold calling right now. Here is the most effective real estate cold-calling script for calling absentee owners for the first time.
These owners do not reside at the property you are calling about. In most scenarios, they are unaware of the potential of their property. Or they may have reasons to hold onto the property from afar. This is your golden chance to hook the client by identifying their needs.
I will show two different approaches you can use to initiate your cold call. But the rest will be up to you, depending on the owner’s condition. Try to talk to the point about the value of their property. Give a very precise intro of a couple of seconds about yourself.
Intro 1:
“Good morning, [Owner’s Name]; I see you own a property on [Property Address] that may not be your primary residence. This is [Your Name]. I am a local realtor, and I was just curious if this is an investment property for you.”
Wait for the absentee owner’s response as “YES.”
“As the market is so high right now, I’m looking for landlords that may be tired of managing properties or may have some tenant issues you just don’t want to deal with. Are you considering selling this property or any others you may own soon?”
Intro 2:
“Hi, this is [Your Name]. I am a local realtor, and I was wondering if you still own the home on [Property Address].”
Wait for the absentee owner’s response as “YES.”
“Okay, I was curious if you would consider selling the home with the market being so high right now.”
You can start the conversation in both types. Now pause for a response; if they seem slightly interested, continue by giving examples,
“We’ve recently helped several owners in similar situations by providing a detailed market analysis. It shows potential offers they were previously unaware of. It’s entirely no obligation, but I’d love to share some insights that could be beneficial for your property at [Property Address] whenever you might be considering a change in the future.”
If they are still not interested,
“Of course, I respect your decision. Would it be okay if I sent some information to your email? This way, you can look at the details at your convenience, and perhaps we can touch base again down the road. There’s absolutely no pressure; I just want to ensure you have all the information you need to make the best decision for your property whenever you might be ready.”
Tip: Cold-call at the best time will help to close more deals.
2. Property Inquiry Script
When the absentee owner agrees to sell the company or seems slightly interested, now do a quick inquiry by asking questions. You can make a list of questions or inquiry based on what you actually need to know and note down. Here is a generic set of questions for a cold-calling script for real estate.
“How long have you owned the property? Or How many prior owners are there?”
Client response.
“Really! Let me ask you: is the home currently rented, or is it vacant right now? And when do you recall when the lease is up?”
The owner will answer.
“Okay. What is the age and condition of the appliances?”
Client response.
“OK. When was the last time it was serviced/repaired?”
For the roof, the HVAC system, and any appliances that are being left that you care about. Probably paint and caulk are good to add to that list.
Ask also about,
- Square Footage
- Bedrooms
- Bathrooms
- Upgrades
- Features
Continue your pitch.
“Is anything buried on the property?”
“Umhm. Let me know if you finish with some information about the neighbourhood. Are there any nearby schools, public transportation options, and local amenities?”
3. You Want To Know Their Preferred Timeline
Whether the absentee owner considers selling, leasing, or utilising management services, they may have a preferred timeline. So you need to ask about the homeowners’ convenience and book an appointment.
First, give your intro and know the homeowner’s pain points, then pitch them to know their timeline and, in the meantime, prepare all the relevant information.
“Thank you for sharing that. Given what you’re considering for the property, may I ask if there’s a specific timeline you have in mind for making these decisions? Knowing your timeline will help us provide you with the most relevant information and services at the right time.”
If the owner provides a timeline
“That’s perfect. Thank you for letting me know. With that timeline in mind, we will prepare a follow-up meeting that fits your schedule. We can discuss all the information at your convenience, perhaps in a follow-up call or via email, whichever you prefer.”
4. Property Management Services Script
If you offer full property management, your pitch needs to reflect that. This time around, focus on promoting your property management services to absentee owners. Point out how you can make it easier for them to handle the challenges of managing their property from a distance.
“Hello [Lead’s Name], this is [Your Name] from [Your Company], where we specialize in property management services in [Location]. I’m reaching out today because I noticed you own a property at [Property Address], and I imagine managing it from a distance can be quite a hassle for you.”
Wait for the owner to respond.
“Absolutely, it can definitely be a lot to handle. At [Your Company], we provide comprehensive property management solutions. It will cover everything from tenant screening and leasing to maintenance and emergency repairs. We want every property owner to have a stress-free life while we take care of your investment.”
Can I share how we could specifically manage your property at [Property Address] and what benefits our services offer?”
When the owner shows interest.
“Great! We handle all the day-to-day operations. We do rent collection, handle tenant inquiries, and ensure compliance with local laws and regulations. We also provide regular updates and financial reports to keep you informed about your property’s condition. This means you can enjoy the benefits of property ownership without the day-to-day hassles.
Would you be interested in setting up a more detailed discussion to explore how we could customize our services to meet your specific home needs?”
5. You Need To Discuss Price Expectations
If the absentee owner agrees to take your property management service, then you should discuss the price expectations. Listen to their expectations, then tell your charges. If you have customised pricing, then share that, too. So you can find a good pricing fit for them.
“Hello [Owner’s Name], this is [Your Name] from [Your Company]. We’ve been discussing the potential benefits of our property management services for your property at [Property Address], and I’d like to talk about our pricing models and what you can expect in terms of costs.”
The owner will respond and then continue your pitch.
“I appreciate your consideration. We offer competitive pricing and ensure top-notch service and peace of mind for property owners like yourself. Our fees are [Share your pricing model].
For a property like yours at [Property Address], the management fee would generally be around [X%] of the monthly rent. This fee includes [List major services], so your property is professionally managed and maintained.”
Listen if the owner likes your offerings and never sounds robotic in your B2B cold calls.
“Sounds great! Now, let me discuss exactly what services you will receive and the total cost so you can see the full value of partnering with us.”
Your pricing model may not meet the expectations of the prospects.
“I understand your concerns, and it’s important to us that you feel confident in the value you’re receiving. Would you like to discuss any specific budget constraints or adjustments we have for you? We also offer customised pricing. We try our best to work with you to find a flexible solution that fits your needs and budget.”
6. Objection Handling Script
Cold calling isn’t easy because, as a cold caller, you will get a lot of objections. But the key is to stay positive and handle the objections. Some common objections that homeowners arise are,
- They do not trust the company.
- They do not need the service.
- They are not interested in selling the home.
- They have a cost issue.
- Homeowners are concerned about losing control over their property.
Let’s have a look at scripts for real estate cold-calling handling different objections of absentee home leads.
The absentee owner does not want to sell the house.
“I appreciate your opinion. Many homeowners felt the same way about selling their homes. But when they found out about the value of their property in the market, they could not deny it. Also, it can take up to 3 months to sell the home. But with us, you can do it faster. Most importantly, since you do not live there, surely, within a few years, you will consider doing so. Then why not sell your property right now as long as it holds great value in the marketplace.”
The objection is about cost.
“I understand that the cost may appear high at first. But with our professionals’ help, you can avoid expensive problems. Our service includes [Share your service that can cut their cost]. Many homeowners first think like this. But once they get our service, they solely depend on us and enjoy their life without worrying about the home.”
The lead may think of losing control over the property.
“Firstly, I want to thank you for sharing your concern. Feeling concerned about losing control over the property is completely natural. But I want to reassure you that our approach is about partnership. We will keep you informed with regular updates and reports. You will have the full authority to make any decision. Our role is only giving expert advice on day-to-day management, but all significant decisions are yours to make.”
7. Reporting An Urgent Maintenance Issue
Cold calling services are not only about buying and selling homes. There can be situations in which you need to inform the homeowner about urgent maintenance issues. Here is an easy-to-use cold-calling real estate script for this situation.
“Hello [Owner’s Name], this is [Your Name] from [Your Company]. I’m calling about an urgent matter regarding your property at [Property Address]. We have encountered a [describe the issue, e.g., significant plumbing leak in the main bathroom] that needs immediate attention.”
Hold for the owner’s response.
“Understanding the urgency of this situation, we’ve already taken preliminary steps to minimize damage, such as [briefly describe any immediate actions taken]. Our next step is to bring in a certified professional to repair the issue promptly. Based on initial assessments, the repair work is estimated to cost around [estimated cost], and we can have the problem resolved by [Timeframe].”
The lead is still hesitant.
“I understand your concerns. Would you prefer to have a quick video call so I can show you the issue in real-time, or perhaps you’d like to discuss alternative repair options? It’s important we act quickly to prevent any further damage, so I’m here to work with you to find the best solution.”
Seeking approval to proceed.
“I need your go-ahead to proceed with this repair to ensure your property is maintained properly and to avoid any further issues. Can we authorize this work now, or would you like to discuss this further?”
Finally, the absentee homeowner agrees.
“Thank you, [Owner’s Name]. I’ll oversee the repair personally and keep you updated on the progress. I’ll also ensure everything is done to the highest standard and within the estimated cost and timeframe.”
8. Property Sale Inquiry Script
To capture the interest of homeowners and convince them to sell their property, create an irresistible sales script. You can use these scripts or personalize your own because cold calls are still best for generating and closing more leads.
Begin by conducting thorough research on the property’s current market value and gaining market insights. A lack of research is one of the main reasons why many cold callers struggle to achieve positive results in their calls. Also, highlight the advantages that absentee owners can experience by selling their homes. Employ captivating hooks for the particular location and market trends, igniting the owner’s curiosity about the investment potential. Always remember, personalization is the secret ingredient for triumph in cold-calling sales!
First, give the intro; then,
“With the current market trends in [Location], properties like yours are in high demand, and I wanted to check if you’ve considered selling or if it might be something you’re interested in exploring. If you have even a slight interest, I could provide a no-obligation market analysis and potential sale price for your property. This would give you a clearer idea of what you could expect if you decided to sell.”
Lead has considered selling.
“Well, We’ve been quite successful in your area recently. Have you thought about a price you’d be comfortable selling your property for?”
After trying your best, if the absentee owner is not willing to sell the home, then do not force further. Your real estate cold calling script should be,
“I completely understand, and there’s absolutely no rush. If circumstances change or if you become curious about the market in the future, feel free to reach out. Meanwhile, would you be interested in receiving occasional updates about the market trends in your area? This way, you can stay informed with no commitment required.”
9. Feedback Request Script
Trust is foremost in cold calling or outreaching prospects. This will help you expand your prospect list. You can showcase your new client’s testimonials and gain trust. Also, with feedback, you can know where to improve or if your current strategy is working.
“Hello [Owner’s Name], this is [Your Name] from [Your Company]. I hope you’re doing well. I’m reaching out today to discuss with you the management services we’ve been providing for your property at [Property Address]. We value your opinion highly, and your feedback is crucial in helping us maintain high standards and improve our services.”
Now, pause for the owner to respond.
“I’m glad to hear you’ve noticed our efforts. Could I take a few moments to ask for your detailed feedback on some specific aspects of our service? We’d like to know what has met your expectations and if there’s anything we could do better.”
The next pitch is when the owner gives you feedback.
“Great, and thank you for sharing that. Your insights are invaluable to us. [Respond to any specific issues or praise with acknowledgment and action steps if necessary]. We’re always looking for ways to enhance our services, and your satisfaction is our top priority.”
Sometimes, owners do not provide detailed feedback yet.
“No worries at all; I can send you a quick survey link that you can fill out at your convenience. It won’t take more than a couple of minutes, but it will provide us with essential information to help serve you better. Would that be okay?”
10. Closing Script
Now, it’s time for the closing script. Your prospect may have agreed to sell or take your service. Regardless of the conclusion, you need to behave professionally and maintain a courteous manner.
“Thank you so much for taking the time to speak with me today, [Owner’s Name]. I truly appreciate your openness and the opportunity to discuss your property at [Property Address]. If there are any other questions or further information you need, please don’t hesitate to reach out.”
“Before we conclude, is there anything else I can assist you with at this moment?”
The prospect may address some concerns and note them precisely.
“Great, I’ve noted all that down. We will proceed accordingly, and I’ll make sure to keep you updated every step of the way. You’ll receive a confirmation email shortly with a summary of our conversation and the next steps.”
11. Follow-up call with an Absentee Owner
As a real estate cold caller, you should know that after the initial outreach, 80% of sales need five follow-ups. You can re-engage with the absentee using cold cold-calling follow-up strategy. It can be about updating them on progress if they are taking your service or about selling the house. You need to ensure continuous communication with the owners to convert them into leads. Here, dialers for cold calling in real estate can help you for reminding a timely.
“Hello [Owner’s Name], this is [Your Name] from [Your Company], following up on our last conversation about your property at [Property Address]. I hope this is a good time to talk. I wanted to update you on [mention any specific updates] and see if there are any new questions or concerns you might have.”
The absentee owner may share their thoughts.
“Thank you for sharing that. [Address any new issues or concerns raised]. As always, we are committed to ensuring your property is well-managed and your investments are secure.”
Now, based on the situation, you may discuss the next steps.
“Looking ahead, we will be [mention any planned actions or check-ins], and I will make sure to keep you informed about any important developments. Is there anything specific you would like us to focus on or any additional services you are considering for your property at this time?”
Verdict
Absentee owners have a significant chance to close more deals. They are potential leads, and they are also underrated ones. For real estate cold callers, this can be a golden opportunity to grab and become successful in closing more deals.
The generic script for absentee owners is different from how you pitch any homeowner. After hours of searching online, you won’t get many profitable results. This is why we developed scripts specifically for absentee owners.
Your intro should be minimal, without any irrelevant conversation, and direct to the point. Highlight the core benefit the absentee owner can get from you. Congrats! You are closer to your lead. Other situations include what type of inquiry you should include in your script, getting feedback, closing the script, and follow-ups.
Remember to stay positive and have enough courage to handle any rejection. Maintain a friendly tone and basic manners. Your leads are your top priority.
