Do you guys cold call owners to see if they’re thinking about selling?
 If so what do you guys say?
Anything i should be aware of as far as what not to bring up? 
New here
[{"id": "hwl186r", "text": "Yes, when you don't know anyone, that is how most people start. Is ineffective af. Try socializing and go to organization events.", "replies": [{"id": "hwlpa84", "text": "Would you recommend the same for someone who\u2019s getting into investing in real estate as well? I\u2019m interested in investing and I need to find a banker, a crew of contractors, real estate agents, a lawyer, etc. not to mention advisors. Would you also recommend going to local events?", "replies": [{"id": "hwls499", "text": "Yes, look for the players in your area and start making relationships. Good people would also guide you towards other good people.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hwl1xo6", "text": "Nobody is going to hire you from a cold call. This isn't a slight to you, it's just a reality that choosing a listing agent for a property is a significant investment management decision that isn't going to be made that casually. The question of whether they are thinking of selling becomes irrelevant once you understand that. \n\nYour goal should be to simply book a face to face meeting. At that meeting, you should try to get to know them as people, understand their history in CRE, get to know their investment strategies, learn the story of their property or portfolio, and build credibility for your brand through exhibiting market knowledge.\n\nOnce you've done all of that (and that may take more than one meeting), you can bring the conversation to what conditions would motivate them to sell their  asset(s) and why. Or you could turn this around and see what they're interested in pursuing as a new acquisition. Once you've navigated that stage of the conversation, you just need to continue checking in with them periodically and provide them with information they might see value in so they think of you as a trusted advisor. Then hopefully they'll consider using you as a broker.\n\nBut taking all of this back to the first cold call, keep it simple. Introduce yourself quickly, ask if they would have time to discuss trends in whatever market is relevant to them, and try to book a meeting. The first cold call should be to the point, respectful of their time and rapport-building. \n\nYou hear all the time that brokerage (and sales in general) is a relationship business. It took me years of being a broker to really understand what that means. The more you focus on building and investing in relationships with potential clients as people, the more business will come your way. This is so challenging to do as a new hungry broker, but the more successfully you can focus on the longer game rather than laser in on the first possible transaction/commission, the quicker you will build a sustainable book of business.\n\nGood luck!", "replies": [{"id": "hwl6d96", "text": "Wow thank you for that advice really eye opening I appreciate the knowledge", "replies": [{"id": "hwl92eq", "text": "No worries man and I'm really pulling for you. It's one of the best jobs out there if you can get to a sustainable place in your business development growth.\n\nAnd this helped me so I'll pass it along - nobody is better than you or too important, and most successful people in this business got there through relationship building of their own and will be happy to make time for you as long as you're prepared and respectful.", "replies": [], "depth": 3}], "depth": 2}, {"id": "hwl8hl6", "text": "Words of wisdom!!!", "replies": [], "depth": 2}, {"id": "hwljbw5", "text": "I almost said this is dumb AF but yeah whatever he said, save some for the rest of us, go sit in the corner.\n\n\nEdit: I read it, downvote it, it's too good", "replies": [{"id": "hwlr2o3", "text": "I honestly don't know if you agreed or disagreed with my response.", "replies": [{"id": "hwlxtsy", "text": "That's how you know I'm good", "replies": [{"id": "hwm0uqx", "text": "You're scary good.", "replies": [{"id": "hwm1hg4", "text": "You. are. Soooooooo good, that you're teaching others and not worried about any lost deals. That's good. Good as fuck. \n\n\nWhat's your u/ mean if you don't mind me asking? Like Monday I'm mute? Or money I mute? Or moni mute? Or all? Cuz I'm broke but if you're a girl I'm like fuck it I'm chugging a fourLoko, wya?", "replies": [{"id": "hwm2fom", "text": "Well I'm not advocating for losing deals. But asking for a deal in your first cold call isn't going to get you far. Buy a guy dinner first and you'll get a better response.\n\nUsername means nothing. An inside joke with a buddy in sixth grade playing Perfect Dark on N64. \n\nAnd as tempting as that proposition is, I'm a dude and you seem like a ride I wouldn't survive.", "replies": [{"id": "hwmnnla", "text": "What if I'm too broke too afford dinner? Shit man I'm not gonna lie to em when I call that's the whole reason I'm calling em \ud83e\udd37", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hwlp42i", "text": "Hey so would you say that as a client of a real estate agent, I should talk to my agent about whether my first property should be a commercial residential rental, or my first property purchase should be a higher end home that I\u2019ll house hack?", "replies": [{"id": "hwmahla", "text": "You're on a whole different side of real estate than me. I do large debt and equity deals for developers, funds and institutions.\n\nBut you asked, so my recommendation would be that you'll have an easier time getting financing on a single family home flip than a multi-unit apartment if you've never purchased the latter before. You'll also be able to realize gains more quickly and with fewer regulatory hindrances (tenant protection bylaws make it challenging to quickly turn over apartments). Now despite all of that, I would stay away from residential of any variety right now. It's overheated, cap rates are artificially compressed due to low rates, intense competition amongst private and institutional buyers and after the long period of uninterrupted gains we've had, you're more likely to be a bag holder in this climate than successfully create wealth. \n\nIf you must invest in CRE, look into industrial strata/condo in core urban markets. It's bomb proof, requires essentially no capex and demand is driving rates steadily higher without you having to do much more than negotiate a new lease rate every 5 years. You also don't have every guy with $50k in their bank account going to airport seminars, or watching HGTV and going out to bid up properties like you see in the residential sector right now.", "replies": [{"id": "hwmjjz3", "text": "Huh Ok I\u2019ve been getting the impression that real estate ain\u2019t so great to be buying right now\n\nI don\u2019t really know what else to invest in though\n\nGuess I\u2019ll have to figure that out", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hwle539", "text": "Yes. Did it for 2 years straight. Very good at it. It\u2019s a numbers game. \n\nEmail is best though. I hate to say that but it\u2019s true. A simple \u201care you interested in selling at this time\u201d worked for me but that was probably my 7-8th email and I had given up longer emails and cut straight to it. \n\nOrganizations and stuff are cool but I disagree with the other guys comment about that being a more effective way of getting listings or deals.\n\nI can call 50 owners in 1 day and email 100+. Doesn\u2019t get more effective than that.", "replies": [{"id": "hwloxkx", "text": "Can you elaborate a bit more on the full email pitch? Were they blasts? What was successful or any particular problems? Thanks", "replies": [{"id": "hwofldl", "text": "Sure \n\nMy emails weren\u2019t typically blasts but might as well have been. \n\nI\u2019d cut straight to it. Owners are busy and if you send 3-4 paragraphs you\u2019re dead in the water. \n\nI\u2019d say I represented a buyer who was placing funds in Dallas and was looking to buy properties similar to theirs. Would they be interested in receiving an offer at this time?\n\nThat was email 1 \n\nThen I\u2019d go into a little more detail in email 2. Saying more about the buyer and their buying power. \n\nEmail 3 and beyond I\u2019d just keep following up to see if they had interest at this time in receiving an offer.\n\nOccasionally I\u2019d mix it up and send a email about how much interest we had in their building in particular \n\nSuccess varied as some people are going to answer email 1 and others have to be emailed 5+ times. \n\nIt\u2019s all about timing. I can\u2019t stress that enough. \n\nI\u2019ve been told no in January called again in February by accident and they said yes. Owner had operational changes that changed his mind shortly after I called. \n\nMost successful emails were the shorter ones but that was after I established who I was. \n\nI\u2019d also mix in a phone call now and then and ask if they got the email, if they\u2019d be willing just to know what we\u2019d pay. Can I come shake their hand? Anything to get in front of them.", "replies": [], "depth": 3}], "depth": 2}, {"id": "hwlpdcw", "text": "How did you get the email addresses for people in the communities you were interested in doing business in?", "replies": [{"id": "hwlwsrz", "text": "CRE broker here. I personally bought email addresses from Fidelity of property owners I was targeting.", "replies": [{"id": "hwm0io7", "text": "How did you do that?", "replies": [{"id": "hwnqr37", "text": "Fidelity title company has a program called \u201ctoolbox\u201d where you can buy the emails. There\u2019s also costar which has some, as well as reonomy", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hwoeihf", "text": "Find the building you like.\nGoogle the company that works there.\nGoogle \u201cABC Company president ceo\u201d\nGet their LinkedIn \nPaste the URL into RocketReach.co\nNot .com \nAnd there\u2019s usually a 70% success rate\n\nOr find an employee if you can find the owners email or LinkedIn and just copy the format of the email using their name", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hwlirow", "text": "Would if I could", "replies": [], "depth": 1}, {"id": "hwltx2d", "text": "That\u2019s how I get all my leads so yes", "replies": [], "depth": 1}, {"id": "hwlwjvo", "text": "I do, but mainly because I\u2019m a buyer rep shopping for off-market properties in very specific areas.", "replies": [], "depth": 1}, {"id": "hwlxpqy", "text": "Networking is the name of the game. Even more so in CRE/RE. Aim to network with 5 different individuals every week and you\u2019ll gain a lot more benefits than a opportunity to make money. Get to really know the people first. Doesn\u2019t have to be all about CRE.", "replies": [], "depth": 1}, {"id": "hwmxm9q", "text": "I used to do the We Buy Houses As-Is shindig.  I was basically marketing to pending foreclosures.    Once you got through the barrage of mailers and calls that they were getting, they were really thankful that you were trying to help them.  I imagine if I was a realtor, it would have been solid listings.  You have to really screen the deals though. \n\nYou ONLY closed deals in person.  Nothing was going to get done over the phone, except MAYBE owners on NOO.", "replies": [], "depth": 1}, {"id": "hwnq294", "text": "Maybe advertise on billboards as well", "replies": [], "depth": 1}, {"id": "hwnv0e6", "text": "Absolutely, off-market is the way to go. I prefer sending letters every 6 months. I just say \"Hey, this is a great property, if you're ever interested in selling, I can buy it from you right away..\" etc. I'm just trying to build familiarity, get them to like me, and not ask for anything in return. Then when they run into dire financial circumstances, I'm right there as an option. All-cash helps too, of course.", "replies": [], "depth": 1}, {"id": "hwpbaig", "text": "yes", "replies": [], "depth": 1}]