You probably know that prospecting is the most effective way to expand your sphere of influence and generate more business, but the last thing you want to do is pick up the phone and get rejected over and over again.
You may be working your guts out… yet you barely seem to scrape by from month to month. Or perhaps you’re new to the industry and are still trying to figure out this whole prospecting thing.
Don’t worry, it’s normal for real estate agents (especially new ones!) to have that experience – especially if you think cold calling is the only way to prospecting. So in today’s post, we are going to share how to prospect without cold calling with a few variations on the proven formula.
How to make Cold Calls – Warm
Prospecting is hard. But you can find success and provide a luxurious lifestyle for yourself and your family – especially if you do what the top producers do.
Market research shows that making phone calls is the number one way to get set appointments and get listings, but it also shows that agents making more than $250,000 each year prospect leads in at least three different ways – 1. phone calling, 2. direct mailing, and 3. door knocking. These prospecting activities are among the least expensive and are proven to give you the highest return on investment.
(Warm) Phone Calls
We are big advocates of turning “Cold Calls” into “Warm Calls”. There are lots of ways you can do this but the most valuable is by running social media ads. If people you contact have seen your content on social media, they are less likely to answer the phone angrily. Even better yet, they know your face and when you share who you are, they are more likely to have a civil conversation.
Direct mail
Direct mailing is a fantastic alternative to cold calling for real estate agents. It allows you to reach potential clients in a way that feels less intrusive and more personal. Unlike cold calls, which can often catch people off guard and lead to awkward conversations, direct mail provides a tangible piece of communication that recipients can engage with at their own pace.
You can customize your mailers to include relevant information about the local market, recent sales, or the unique services you offer, making your message more compelling and tailored to your audience. Plus, direct mail campaigns are trackable, so you can measure their success and tweak your strategy as needed. By investing in eye-catching, informative mailers, you can build your brand, generate leads, and establish a strong presence in your community without the downsides of cold calling.
Door Knocking
When cold calling starts to feel exhausting and ineffective, Realtors should consider the tried-and-true method of door knocking. This face-to-face approach offers a unique opportunity to make personal connections and leave a lasting impression on potential clients. Unlike a phone call, meeting someone at their doorstep allows you to engage in real conversations, read body language, and build rapport more naturally. It also demonstrates your commitment and willingness to go the extra mile, which can set you apart from competitors. While door knocking requires a bit more effort, it can be incredibly rewarding, providing a chance to showcase your personality and expertise directly
Why explore cold-calling alternatives?
3 Realtors that Made Better Cold Calls
“Properly executed, a direct mail campaign has the power to propel any business to the next level… The foundation of any direct mail campaign is the list of contacts you intend to reach… Although it’s easy to argue semantics, the truth is that direct mail marketing works when it is done correctly.” – Than Merrill
“If a person gets a piece of direct mail with your name on it, they’ll be instantly reminded of the exceptional service you provided them and will be more likely to think of you when they need that service again.” – Lina Poka
“REDX expireds are great. Within my first 60 days, mailing and door knocking leads, I had three listings! One of my REDX listings, we dropped the price 2%, sold it in eight days and I came out smelling like a rose.” – Jordan Chiaruttini
“It starts with your feet, the phone, and direct mail. I know everybody wants to jump on what’s new and sparkly, but the old stuff has worked for 100 years and still works.” – Chris Burnley
How to Execute an Effective Mailing Campaign?
Lucky for you, you don’t even have to be creative on this one – you can just follow the example of the most successful mailing agents.
So the big question is… what are these top producers mailing to get such amazing results?
Here’s what the research shows:
Top producers – the ones making $250,000 each year – do each of the following:
1. Customize the material to the property
Pull homeowner data from REDX; get the photos; merge in the addresses and names; do SOMETHING, please don’t just send a generic mail with no identifiers on them. It’s sloppy and won’t get you the results you want.
2. Send multiple marketing pieces
People “consume” your marketing differently. Some like images and some like letters. Try an oversized postcard and a letter.
3. NEVER give up
Send over and over and over…and over. Invest in many mail pieces to send for weeks, or months, or forever. Eventually they will relist, if it’s not with you, you stop mailing, but until then don’t give up.
Success Story: Kimberly Dotseth
Prospecting is a numbers game. Invest time (and money where necessary) in phone calling, direct mailing, and door knocking and get ready to revel in your extraordinary ROI.
