6 Cold Calling Tips for Real Estate Agents

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Cold calling for real estate is a controversial, but efficient tool for lead generation, sales prospecting, and getting new deals. Nonetheless, such a task as cold calling for real estate agents is also a complex and challenging task, especially if one prospect may require around ten touchpoints - calls, emails, meetings - to be closed. Therefore, to support your real estate cold calling plan becoming effective and improve your performance, you need some real estate cold calling tips and, what is even more important, scripts for real estate cold calling. 

Where can you find the samples of cold calling scripts for real estate agents? What cold calling scripts for real estate are the most effective? Are there any prospecting scripts for real estate? How to choose really effective cold calling scripts for real estate? What are the best real estate follow up scripts? What is the way you should communicate with your prospects during the first contact? How to find leads in this industry and can a phone help you in this purpose? 

A little spoiler: we have some outstanding real estate cold call scripts for your business. 

Is cold calling for real estate alive?

To answer this question about real estate cold calling, we have to use real statistics and insights because it is the only way to change people’s minds that are still believing the statement that “cold calls aren’t working anymore, they’re dead”. In most cases, opponents of cold calling either have never had an experience of doing cold calls or have a negative experience of cold calling because of the wrong practices they used. 

So, let’s look if cold calling is still efficient. 

  1. The success rate for such calls, including real estate cold calling, is around 6,3%, and that’s up to 6 times higher than conversion rates for cold emails. 
  2. Around 82% of customers accept appointments with salesmen who contact them via cold calls. 
  3. Over 40% of respondents have stated that the phone is the most effective way to make sales. 
  4. Increasing the number of follow-up calls can boost conversion rates up to 70% more. 
  5. The last hours of business days, as well as Wednesday and Thursday, are the best time to cold call real estate leads. 

So, as you can see, real estate cold calling is a truly efficient way to find new customers and boost your sales performance. Nonetheless, you still need to use only proven practices and tips for real estate cold calling, as it is the only way to avoid all the problems that await you on your way to success. This also relates to cold calling real estate scripts, but let’s first talk more about tips and tricks you can use to boost your sales, and then we will provide you with real estate cold calling scripts to perfectly suit your needs. 

Those who work the phones at your real estate business likely dread cold calling targets. Cold calling will prove much more rewarding if your team performs these calls in a truly artful manner. Let's take a quick look at a few tips and tricks that will assist real estate agents reach the results they expected of cold calls.

Best cold calling real estate tips and tricks

Research your prospects

This is the most important stage of your real estate cold calling strategy because it will never work the way “seen the lead and called him immediately”. Even knowing the name of your prospect can boost your chances of successfully closing the lead and it isn’t that difficult to find their names - use some free tools that can show you how leads are named in contact lists. 

Also, you should at least know why are you calling them: whether they are selling or looking for a house, do they have family or specific needs, etc. This info will assist you to get straight to the pain point and catch their interest. 

Test and practice

Ask your sales agents to practice their sales pitches with you. You, a skilled real estate professional, are experienced enough to know common objections and potential buyers' personas to practice crisis moments with agents and potential call flows. This will allow them to identify imperfections in their sales pitches, as well as understand how a difficult customer can act during a call. Don’t let them relax - the more stressful environment you will create for them during training, the more ready they will be for real phone calls. 

Look for expired listings

People who have expired listings are those who fit any sales representative in real estate industry. First of all, they aren’t cold prospects - they have a need of selling a house, they have already tried to do that, and they’re now frustrated because they haven’t been successful. So, the best idea is to reach out to them and explain why you are not the same as their previous agents and what real estate services you can propose to deal with the issues of your potential clients. 

Moreover, expired listings can give you much more information about the lead - even such data, as the location of the house, it’s price, and duration of being on sale can help you generate ideas for ideal sales pitches and offers. 

Avoid discussing price and commissions

The best thing to do when a prospect asks for your commission is to say “Let’s discuss all the details during a live meeting”. Yes, you can share average prices to let the prospect understand what they should expect of it, but never try to negotiate about the final price during a first call. You are discussing customers’ problems and pain points, not trying to earn money - that will make a bad impression. Show your care and wish to help a lead to get what they want, the price isn’t that important to be discussed during your first contact - unless a lead asks for that aggressively. 

Best cold call real estate script templates

Cold calling scripts real estate agents are mostly using may differ based on what is the purpose of the call. For example, a wholesale cold call script might be distinct from real estate scripts for buyers of new houses, and so on. So, we will try to cover all popular kinds of 

real estate agent scripts.

Cold calling real estate script #1. For home sellers, first sale by owner (FSBO)

You: Hi! It’s John from ABDC company, I`m calling regarding your property {address}. Are you the actual owner?

Lead: Yes. 

You: Great! Tell me please, what is the overall duration of your house being on sale and what is the price you are selling it for?

Lead: {answers}

You: Great! But why is the price lowered? I can bet this house costs at least 15% more! Does nobody call you? Or you lowered the price as the house is selling for too long?

Lead: {starts complaining about greedy customers and long waiting for sale}

You: I know how it feels! Had the same trouble when I`ve been trying to sell my uncle's house in {location}. Nonetheless, I know how to deal with it - you just need someone who knows where to find people who will not only like your house but who are ready to pay the real price. Fortunately, I even have some prospective buyers who are looking for a house in your area, and I think it could be a match!

Cold calling real estate scripts #1. For showing skills

You: Hi! It’s Antony from ABDC company, I`m calling regarding your property {address}. Are you the actual owner?

Lead: Yes. 

You: I see that you listed the house a couple of months ago, but it is still on sale. Are you feeling a lack of interest? 

Lead: Yes, no potential buyers call me. 

You: Is the price in the listing the price you really want your house to be sold for? 

Lead: {answers}

You: Great! Now, let’s come back to your main issue: I can say based on my experience and statistics of property sales in your area, it takes around 45 days to sell a house. But if we choose a rate marketing strategy, I will help you sell it in a month, as I have sold another house in {the same city} in the previous month. 

Cold calling real estate scripts #2. Nailing an elevator pitch (with customer objections)

You: Hi! It’s George from ABDC company, I`m calling you regarding your request to purchase a house in {area}. Is it relevant for you?

Lead: Yes, but I don’t think I need any help. 

You: I love your confidence! Nonetheless, just let me ask you a few questions and share some closed statistical info about the relevant prices and closed deals in the area you are interested in. For how long are you looking for a house and what is your perfect budget? Additionally, what are the main requirements of the house?

Lead: Ok. Well, it has been two months since I decided to search for a house here. The budget is from 70,000$ to 85,000$ maximum, and the main requirement is a swimming pool, as well as the total area of ​​the house, which should be at least 2700 ft. 

You: Do you know what’s funny? I have some relevant offers that are even below your minimal budget! If I say you that I can find a perfect match to your requirements for a price lower than you expected, will you allocate me 20 minutes of your time for a meeting? 

Cold calling real estate scripts #3. Real estate cold calling scripts for following up with a customer

You: Hi! It’s Lia from ABDC company. Do you remember our previous dialogue about your requirements for the house you want to buy in {area}? Even though no new offers were added, I have done my best to reach out to potential sellers of houses, and there are a few who are likely to sell their properties, and the best thing is they expect a price that matches your budget. Moreover, I can even try to convince them to agree to a lower price than they are now willing to get. When will it be comfortable for you to meet and discuss the offers? I can also send you some photos on WhatsApp. 

Or use another example of real estate cold calling scripts for follow-ups. 

You: Hi! It’s Michael calling from the XYZ company, we have talked a little bit about your property on sale. Have you got any offers? If I am not mistaken, you are selling this house for a few months, aren’t you? I could sell your house in a month, but first, we should meet and discuss the details.

Or look at that sample of cold calling scripts real estate agents choose for follow-ups. 

You: Hi! It’s Jinna from HTU company, regarding your house on sale. I`ve mentioned that you have lowered the price. Is this because of the long waiting till the house will be sold? If you want to hear my opinion as the opinion of a person who sells houses for 15 years, I will say that there is no need to lower the price, you can easily sell this house for the price you have determined in the beginning. The only thing you really need is a strategy and advice, and if this Friday evening is a great time for you, we can meet and I’ll tell you the way you can sell your house for a good price without waiting for months. 

Cold calling real estate scripts#4. Lead generation real estate agents scripts

You: Hi, Joe! It’s Susan from X company, regarding your wish to buy a house. You are looking for a first-time home purchase in Phoenix, am I right? I have a great deal for you - you tell me your budget, and we can bet that I`ll find a perfect house for you for a price that is lower than you expect to pay. 

You can also feel a need to use cold calling real estate scripts for house sellers to deal with your leads for real estate agents. 

You: Hello! It’s Rowdie from Y company, I`m calling concerning your property. Are you the legal owner? If yes, I have a great option for you for free - could we discuss it at the meeting? What’s the perfect time for you?

Another example:

You: Hi! It’s Jessie, from X company. Haven’t you searched for houses in the Y area? If yes, you have chosen the right time to purchase a house, and now I`ll tell you why. 

You should always remember that the three main ingredients to your success and lead’s satisfaction are empathy, professionalism, and deep understanding of the real estate industry, and open-ended questions. There are different approaches to real estate sales, some real estate experts say that doing calls as monologues is more effective (and some studies even prove that), but a lead should also talk to you - the dialogue is the only way to understand what are the requirements of lead, wishes and how you can satisfy them. 

Conclusion

As you now know, cold calling real estate strategies are still working, and they can greatly boost your sales, as well as cold calls are, maybe, the best realtor lead generation tool in the world. The lead generation real estate agents do via cold calling real estate prospects is way more practical than lead generation strategy performed via other communication channels, such as targeted advertising on social media, cold emails, and so on. Lead generation for realtors is one of the most important tasks because the market is competitive and those leads that won’t be processed by you will be processed by other real estate companies - your competitors. 

Furthermore, for a successful cold calling real estate strategy you require effective cold calling real estate scripts. Your agents ought to operate cold calling real estate scripts because they help to focus on the purpose of the call, control conversation flow, overcome objections and achieve your objectives. Keep in mind that cold calling real estate scripts should never sound like scripts - agents should be empathetic and positive to make a good impression and crush customers’ doubts. 

Nonetheless, cold calling real estate strategy is based not only on cold calling real estate scripts but on automation too. While manually you can do around 240 cold dials per 8-hour work shift (and a very little part of those calls will be responded to), with a specific tool you can do over 800 dials per 8-hour work shift with over 75% of response rate., so it means you can get around 600 sales calls per day. Isn’t it great? Moreover, this tool covers also such needs as handling incoming calls, and outbound calls, call recording and monitoring in three distinct modes, call scripts editing and creating, live dashboards with relevant data and insights, and so on. For outbound calling, you can also use three different modes - Predictive dialer, Power dialer, and Preview dialer - and each of them has its own functionality and purpose. You just import your cold leads lists into it and the system dials automatically, passing through a list of prospects with unbelievable speed and efficiency. 

If you are interested in what a tool can be that multifunctional and universal, check the link below. You can also collect any email address to send follow-up email campaigns, or share important information with your prospects. This system can also be integrated with the real estate CRM your sales reps use. 

 

Eugene Siuch

Content Manager and Copywriter

Focused on customer service measurement and improvement, SaaS marketing and industry insights, and researching different methods of staff motivation and performance management in the field of customer service providing.

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