It's never been easier for prospective buyers to find the information they need online. Sellers, too, can "meet" their local real estate agents without ever setting foot in an office. One of the many reasons why Homesale Realty has been so successful is our ability to adapt to changing times.

Which leads to one of the most common questions we get from new agents: "Is cold calling worth my time in 2022?

In some ways, the focus has shifted away from cold calling. As you build your brand, attracting the right customers to you often starts with your website. That said, cold calling isn't "dead." It can be a valuable part of your overall strategy for community outreach.

In comparison to the weeks or months it may take for someone to contact you after seeing your website for the first time, cold calling can spark a relationship that moves forward right away. Of course, getting started in cold calling can be intimidating!

Let's take a closer look at how to hone this valuable real estate skill:

• Start by Choosing Your Intended Audience
  There are five types of cold calls in real estate, depending on the intended audience: Sellers with expired listings, "farming" every lead in a neighborhood, FSBOs, FRBOs, and pre-foreclosure property. Of these, geographic farming tends to be the most time-consuming and potentially least productive. Understand the motivations of those you'll be calling and how to focus on them.
  
  
• Have the Right Equipment at the Ready
  Accurate phone numbers are the most important resource when you decide to cold call. With a success rate around 2%, every moment you can save helps, so plenty of real estate agents use a subscription service that vets numbers. Capture your numbers and results in a CRM for later reference and follow-up. If you plan to cold call regularly, dialing software can pull numbers from your database and call more quickly.
  
  
• Prepare for What You're Going to Say
  When they're new to cold calling, many agents start with scripts. Scripts can help you gain a bit more confidence, but it's essential to understand that there is no "magic sales script." Script too rigorously, and you could sound stilted—and, therefore, less trustworthy. As you make more calls, move toward a consultative approach that focuses on asking open-ended questions to get the information you need.
  
  
• Follow the Rules
  Telemarketing laws have become more complex in recent years. While you can always contact your existing customers and those who opt in to hear from you, with cold calling, you need to honor the federal Do Not Call Registry. Most auto-dialers check numbers against the registry automatically.
  
  
• Set Goals and Stick with Them
  Quality beats quantity, but it's crucial to set goals so you can develop your skills and see real business results. One industry study suggests that by spending 15 hours a week making calls, you can increase your commission to nearly $300,000. To get there, you'd need three hours of calls, five days a week. Be prepared to follow up more than once with those you successfully connect with before they'll take action.
  
  
• Play to Your Strengths
  Cold calling can be a powerful asset, but it's not the only way to boost your practice. If cold calling is draining to you, you might end up spending more time avoiding it than doing it. From old-fashioned networking and community events to open houses and digital marketing, you have plenty of options.

Contact BHHS Homesale Realty to find out more about cold calling or get started on our team.