Are you struggling to keep up with real estate client inquiries? Then you know exactly what a realtor struggles with in maintaining new and old clients daily. However, competent realtors often reduce their workload by hiring real estate cold-call VAs for smooth client handling.
One of the benefits of hiring real estate VAs (REVA) for cold calling is efficiency and cost-effectiveness. Hiring in-house employees can often be a hassle, not to mention the underlying costs. However, hiring VAs can reduce overall operations costs by 78%.
However, delegating to a real estate VA can eliminate the threat to your budget without compromising quality. It helps realtors focus on completing sales, building client relationships, and accomplishing essential milestones.
This article provides a detailed step-by-step guide on how to use virtual assistants for real estate cold-calling efficiently.
Why Are Virtual Assistants Ideal for Real Estate Cold Calling?
Virtual Assistants for Real Estate Cold Calling are an ideal choice for several reasons. These include cost-effectiveness, scalability, and consistent perspective. They also allow you to focus on your core activities as a realtor.
Cost-Effectiveness
According to statistics, hiring VAs instead of in-house staff potentially reduces 78% of a business’s overall operational costs. In the US, an in-house real estate receptionist with limited experience will earn between $17 and $25 per hour.
On the contrary, experienced and certified real estate VAs typically charge between $12 and $15 per hour. As you can see, there is a clear difference in salaries and experience.
In addition, hiring REVAs has several benefits. The first thing that adds up to your savings tally is office space. As the agents are virtual, you do not require extra office space, electricity, or other resources, influencing the overall ROI.
Scalability and Flexibility
Especially after the COVID-19 pandemic, the concept of remote working and virtual assistants boomed. Studies suggest that businesses with a hybrid workforce tend to have a projected growth surge of 63%.
One of the benefits of having a âvirtualâ workforce is flexibility and scalability. Real estate leads are expensive in general. However, you can hire more REVAs for cold-calling real estate leads based on your needs.
Also, VAs can work part-time and full-time for you, keeping your budget in check.
Focus on Core Activities
Being a realtor or real estate agent is certainly not easy. Unlike other professions, realtors are submerged in piles of work around the clock. However, such high-performance professions demand closing deals and building relationships.
Cold calling can be instrumental but may take much of your work time. To eliminate this disadvantage, you can hire REVAs to make cold calls.
In addition, according to statistics, there are several time windows for real estate cold calls, on which the cold callers can assist you in generating more leads. It will clear up your schedule and let you focus more on essential factors like closing deals.
Strategic real estate marketing is essential for real estate success. A real estate agent should remain agile and flexible regarding current trends. REVAs can handle calls for you and provide key insights on potential prospects.
Consistent Prospecting
Real estate cold-calling requires consistency and precision. Although cold calls have a very slim success rate of 2%, they need strategic planning to pursue budding prospects for the business.
Real estate VAs can be instrumental in such cases. They plan and schedule a consistent outbound call regime, which massively aids circle prospecting and lead generation. The best virtual assistants for real estate agents emphasise perseverance and patience.
How to Set Up Your Virtual Assistant for Cold Calling Success
Several prerequisites must be met before setting up your REVA for cold-calling success. Several factors, including goals and strategy, outsourcing cold calling REVAs, training and resources, and modern tools and technologies, play a massive role in ensuring good results.
Defining Your Cold Calling Goals and Strategy
Target Audience
Real estate is all about strategic number games. Depending on the requirements and proximity of buying or selling a property, your target audience can span a large sample size.
The most common type is homeowners. In the US, around 25% of property listings expire before selling, indicating a lack of sales within the initial listing period. This particular group can be a great target.
Target Audience for Real Estate Cold Calling
| Category | Target Audience | Description |
| Homeowners | Potential Sellers | Homeowners are considering selling their property. |
| Expired Listings | Homeowners whose listings have expired may need a new agent. | |
| Foreclosed/Distressed Properties | Homeowners who are facing financial difficulties may sell their property. | |
| Potential Buyers | First-Time Homebuyers | Individuals or families looking to buy their first home. |
| Move-Up Buyers | Homeowners looking to upgrade to a larger or more luxurious home. | |
| Luxury Home Buyers | Buyers interested in high-end properties. | |
| Vacation Home Buyers | Individuals seeking recreational properties. | |
| Real Estate Investors | Property Investors | Individuals or companies buy properties for income or appreciation. |
| Wholesalers | Agents contract properties and find investors to purchase them. | |
| Commercial Property Owners/Managers | Commercial Property Owners | Individuals or companies owning commercial properties. |
| Property Managers | Professionals managing commercial properties. | |
| Other Potential Leads | Recent Movers | People who have recently relocated and may buy/sell in the future. |
| New Parents | Families who may need a larger home. | |
| Newly Married Couples | Couples looking to buy a home together. | |
| Recently Unemployed | Individuals may need to sell their homes for financial reasons. |
Call Objectives
The objectives of a real estate cold call are to generate a list of potential leads, build a relationship with the prospect, and schedule a meeting when you see fit.
- Lead Generation
An expert REVA focuses on finding potential buyers, sellers, and investors. It must identify motivated sellers and buyers willing to invest in real estate. Many real estate investors hire cold callers to find real estate investment leads.
A well-defined list can provide you with valuable insights that can be instrumental in closing a potential deal.
- Relationship Building
Establishing a professional relationship with potential clients is essential. Expert VAs in real estate focus on addressing the concerns of buyers and sellers, which allows them to create a sense of trust between the parties.
- Appointment Setting
Once a VA gains a prospect’s trust, setting up a convenient appointment is crucial. Afterward, it is up to you to close the deal.
Expert real estate VAs will feed you with essential information to help assure your clients and close the deal. You can also follow several professional tips on efficient commercial real estate cold-calling.
Real Estate Cold Calling Tips:
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Developing Call Scripts
Creating a compelling call script helps real estate cold-calling VAs drive a meaningful conversation. Several factors, such as opening lines, objection handling, and closing statements, can attract clients and lead to a potential deal.
You must admit this is a cold call, and success rates are slim. For that, your REVAs must have well-defined guidelines. A well-developed cold call boosts the confidence of the VAs in objection handling.
The script is not meant to be followed word by word. Rather, it is an instrument that aids your REVAs in engaging in an effective conversation.
It ensures that your VAs can assess needs, clearly express objections, and sound professional and convincing over the phone.
Tips for Writing Engaging and Persuasive Cold Calling Scripts for Real Estate
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Lead Qualification Criteria
Budget, property goals, pain points, buying authority, and willingness to buy a particular property are crucial real estate lead qualification criteria.
Lead Qualification Criteria
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Pro tips on how to Qualify Leads
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Sales Funnel Integration
A sales funnel is an excellent marketing framework for comprehending the expansion of a particular strategy. Cold calling plays a vital role in the real estate sales funnel.
Key factors like generating leads, nurturing prospects, and guiding them toward a transaction play pivotal roles in converting leads into long-term clients.
The following segment discusses how cold call integration affects the sales funnel integration in real estate sales:
- Lead Generation (Top of the Funnel – Awareness Stage)
The priority in the introductory stage of the funnel is to identify potential prospects. These can be sellers, buyers, or even investors. Any prospect interested in real estate services is included in this state.
- Lead Nurturing (Middle of the Funnel- Consideration Stage)
Once the cold-calling REVAs identify the potential leads and have created an effective communication medium, they focus on building trust and pursuing them towards making a decision.
- Conversion (Bottom of the Funnel- Decision Stage)
This crucial stage can be quickly jeopardized if handled by inexperienced REVAs. As the prospect trusts you, your next step will be to pursue him in making a decision.
- Client Retention & Referrals (Post-Sale Stage)
Your existing clients are the cornerstones of more exposure and potential prospects. According to US real estate market research, the existing customer retention rate is almost 70%.
Existing clients are more likely to purchase new properties from their existing real estate agents, and the real estate business heavily relies on referrals.
| Pro Tip: Initiate a referral or Loyalty Program for existing clients. Through this program, they can refer new clients and earn rewards and incentives. This will boost your real estate business. |
Hiring the Right Virtual Assistant
You now have acquired detailed knowledge on how REVA cold callers can ramp up your real estate business at a fraction of the cost. So, itâs time to hire your mini brigade of hungry REVAs.
This section discusses processes, tips, and tricks for hiring a virtual real estate cold-calling assistant.
Skills and Experience
Strong communication, organization, time management skills and proficient industry knowledge are some key skills for Real Estate Virtual Agents. Previous work experience in the industry will be extra brownie points.
Essential Skills for Real Estate Virtual Assistants:
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Pro Tip: How to Identify Experienced Real Estate Virtual Assistants
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Interviewing and Screening
The interview and screening process requires a special focus on the VAs’ experience, communication skills, and adaptability. Key interview questions can extract the candidates’ raw capabilities.
During the screening session, several tests must be taken to understand the caliber of the REVAs. These tests include script adherence and improvisation skills, call recording samples, assessments of CRM tools, and follow-up scenarios.
Trial Period
A trial period is essential for thoroughly evaluating a Virtual Assistantâs cold-calling skills. If the VA shows promising performance in the real estate industry, easing your workload, you can consider a long-term commitment.
One way to assess the performance of the newly hired REVAs is KPI. The expectations must be assessed through well-defined KPI (Key Performance Indicators).
Platforms for Hiring
Several renowned platforms offer the opportunity to hire professional REVAs with prior experience in real estate and cold calling. One of the most common platforms for hiring freelancers is Upwork.
However, if you seek industry-leading experts, you can hire REVAs from leading cold-calling companies like CallingAgency. Our expert Virtual Assistants are highly trained and experienced with real estate market guidelines. Reach out for a free consultation.
Providing Comprehensive Training and Resources
Product Knowledge
Training virtual agents for real estate cold calls is essential for a better outcome. Thorough training in communications, CRM, other real estate tech and tools, cold calling, and a comprehensive real estate market can equip REVAs with all the firepower.
The process ensures that your REVAs can confidently communicate detailed information about available listings. In addition, they will be capable of understanding and accommodating potential buyersâ and sellersâ concerns.
Crucial Real Estate Resources for REVAs
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CRM and Dialer Training
Real estate is a very competitive market. You can only thrive if you are capable of riding upstream. Several tools and technologies like CRM and Automated Call Dialer Software can give you an advantage over your competitors.
Training Manual for CRM and Dialer Training for REVAs
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Objection Handling
Buying or selling a property is a significant life decision. Prospects will naturally have objections and concerns. A good real estate virtual agent focuses on clearing those objections and gaining the clients’ complete trust.
Train your REVAs with resources and training such as common objections and responses, live role-playing sessions, rejection handling mindsets, and call breakdown analysis sessions.
Structured Training Program for Objection Handling in Real Estate Cold Calls for VAs
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Setting Up the Necessary Tools and Technology
CRM System
A customer relationship management (CRM) system can be instrumental in organizing leads and tracking interactions. A well-implemented CRM can change the game for you. It tracks overall progress and individual performances.
VAs with adequate experience managing CRM software can ensure no lead is overlooked while assessing and organizing leads, tracking their interactions, and improving follow-up sessions.
Recommended CRM Platforms:
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Dialer Software
Automated dialer software eases the call-inbound and call-outbound process complications. It allows the REVAs to take calls without interruptions while increasing overall productivity. You can choose from numerous prominent dialer software that suit your requirements.
Advantages of Dialer Software:
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Recommended Dialer Software Options:
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Call Recording and Monitoring
Continuous monitoring and feedback can fine-tune the REVAs for your clients. Call recording, conversion rate, and constant productivity analysis can help you understand your VAâs contribution and assessments.
Best Practices for Call Monitoring:
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Headsets and Internet Connection
A good-quality device is a deciding factor in sounding professional over the phone. For that, a stable internet connection and a good-quality headset are required.
As you are virtually hiring, you do not have to worry about such device compatibility requirements. Professionals in this industry are equipped with industry-leading gear and hardware.
Recommended Headsets:
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Internet Connection Requirements:
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Call Scripts and Templates
Call scripts require continuous assessment and improvement. As the real estate market has various influencing factors, concerns, and objections, they also evolve rapidly.
Real Estate Cold Call script templates are not meant to be followed word by word. Instead, it works like a vessel that guides your REVAs toward an effective conversation.
Best Practices for Managing Scripts:
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Conclusion
One key benefit of using virtual assistants for real estate cold calling is diversification. As a realtor, you are constantly overwhelmed with information and have an intense workload. Real estate virtual assistants can provide diversified input that relieves the load.
In addition to that, real estate virtual assistants with cold-calling attributes can provide you with vital intakes on multiple clients. This information will keep you in the loop and help you close more deals.
Proper hiring schemes, training manuals, continuous monitoring, and the arrangement of professional coaching will shape the VAs, resulting in more retention and conversion in the future.
The entire process of using virtual assistants for real estate cold calling is overwhelming. If you are seeking expert REVAs that suit your requirements and stay within an affordable budget, contact CallingAgency for a free consultation today!
