You may be new at being a real estate agent or maybe you have not had much luck in getting a landlord to hire you. Now, you are probably about to cold call a landlord but before you dial that number, maybe some of these tips can help you increase your chances of getting a positive response.
As you may already know, cold calling is making calls to landlords or property owners to land a listing. It may be a bit intimidating at first and there are possibilities of rejection. I’m not trying to put you off or anything but you have to prepare yourself to accept a rejection graciously and move on to the next one.
Since they can’t see your face, you have to rely heavily on your voice, your tone, and your choice of words. Let me give you a sample script to help you. This is a step-by-step process so make sure you follow them as much as possible.
First Step: Introduction
The first thing you should always do is to introduce yourself, who you work for and which locations you cover. You should also ask for their name to show them that you are interested in knowing them and not just to talk about the property.
Example: “Hello. I am William Davis and I am a real estate agent. I am working for Miller and Moore Real Estate in Los Angeles, California. May I know who I’m speaking to?”
Second step: Mentioning the listing
Once you have introduced yourself, open the conversation by informing them where you found out about their listing (which you can usually find on Padleads and the other websites the listing was syndicated to). Mention their name when talking to them. Remember to make your tone light and friendly. Specify which property you are referring to as they may have other properties in one area.
Example: “It’s nice to meet you, Joseph. I just saw your listing while I was browsing Padleads. The one at 143 Cornelia Street.”
Third Step: Inform them of your reason for calling
Although they might already know the purpose of the phone call, you should still state it. This will open up the conversation to the main subject at hand.
Example: “The reason why I’m calling is I’m interested in partnering up with you to fill in that property vacancy. I am also hoping to set up a meeting to meet you personally so we can discuss the prospect of us working together.”
Fourth Step: Let them know what you can offer
You cannot expect them to immediately agree without knowing what you can do. You may give them a summary of what you have to offer. You do not have to enumerate all of them since some landlords don’t have the luxury of time to be involved in a long conversation over the phone but make sure that you mention the major benefits.
Example: “I already know which market to advertise your property to. I am an expert when it comes to hosting open houses and I know what the clients usually want. I can also help you with your lease agreement if you would allow me to.”
Fifth Step: Tell them of your past achievements as a real estate agent
It doesn’t mean that you should brag, but landlords would prefer someone with experience and a high success rate. They want someone professional and efficient and what better way to prove it but to give them proof? You can also mention past landlords you have worked with as a reference. But don’t promise them anything, just let them know of the possibilities.
Example: “I have been able to fill up a great deal of vacancies over the course of my 4-year career. I also have a large network of past clients and tenants who I think will be a good fit for your property.”
Sixth Step: Schedule a meeting with them
You will not be able to discuss everything over the phone. If you prolong the conversation, they might get impatient and this can cause you to lose a client. It is better and more proper to conduct face to face interaction. Schedule a meeting and let them know that you are looking forward to working with them.
Example: “I have a good feeling that it would be a great opportunity for both of us if we work together. Please allow me to arrange a schedule for us to meet and discuss this further. I have so many things to offer you and you may have questions that you want answered. Please do not hesitate to call me. My phone number is _________. Thank you”
When doing cold calls, make sure that you don’t sound like you’re reading a script. Make sure you sound enthusiastic and friendly. It may require more effort on your part but this will help you gain more clients.