Best scripts for prospecting in multifamily investment sales!
Does anyone have suggestions as to what is the best script to use for prospecting multifamily, especially in a primary market like NYC? Best opener? Best strategy to build a prospect list &amp; relationships? #creagent #nyc #realestateagent #multifamily
[{"id": "iqjvpka", "text": "You can YouTube live cold calling and literally copy them.", "replies": [], "depth": 1}, {"id": "iqp7hh8", "text": "My 2 cents for what seems to work in investment sales:\n\nSkip the small talk, introduce yourself, ask what their plans are for XXX property, let the conversation flow naturally from there, try to keep them on the phone for while without wasting their time or yours, and have a goal that you try to steer the conversation towards (booking meeting, getting an email, getting a rent roll etc.)", "replies": [{"id": "iqx8mnc", "text": "Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "itfpush", "text": "Here\u2019s what I do:\n\n\u201cHi John - This is Bob with ABC Brokerage. I\u2019m calling regarding XYZ Apartments. I thought the property could be a good fit for several buyers we work closely with. Would you entertain off-market offers?\n\n\nSo this will go one of two ways. Either he is open to selling or he isn\u2019t. \n\nIf he will entertain offers, I will first ask about his pricing expectations. Then I will ask some property specific questions. I usually want to know how the property is performing, what improvements/renovations have been done, the condition of the roofs, parking lots, and any major capex items, etc. Then I ask if he\u2019ll provide a current rent roll and T12. The goal is to get financials and pricing expectations. If he hasn\u2019t given any thought to pricing/value, I offer to put together a BOV for him. I ask the same questions as above and get the financials.\n\n\nIf he\u2019s not a seller, I have to feel them out before I take the conversation further. If they are very abrupt and seem annoyed, I simply end the call. If he comes across as more conversational and courteous, then I will usually steer the call from sell-side to buy-side. I ask if they are in the market for new acquisitions and I try to get a sense of their criteria. You never know, he could be a good buyer for an opportunity we have. And I make sure to get an email address if I don\u2019t have it already.\n\n\n\nWhen reaching out to seller prospects, my goal isn\u2019t to secure an exclusive listing. I prefer starting from an off market approach. If it leads to a listing then fine, but I prefer working off market. Exclusive listings are desirable in that they are more likely to close, all things equal. But they\u2019re way more labor intensive and the process of securing a listing is very competitive. In the time it takes to successfully win, manage and close a formal listing, I could\u2019ve put two or three off-market deals under contract. \n\n\nFYI I entered multifamily investment sales exactly one year ago. Typically I shoot for 30-40 cold calls/emails per day. I closed my first deal last month and I\u2019m on track to close the second in November. And I\u2019ve got one other deal under LOI. My closing dollar volume should be just under $30M.", "replies": [{"id": "ithvnbe", "text": "Great advice! Thank you! I\u2019ve been in multifamily investment sales for 6 months now! What area are you in, with what brokerage?", "replies": [], "depth": 2}], "depth": 1}]