How many cold calls did you make 1st year, second year in the business? How many do you think a new broker should make?
I shoot to talk to 15-20 decision makers a day, wondering if I should try to up those numbers. Some days I make 30 calls and get 15 decision makers, sometimes it takes 60 calls. Wondering what you did, what you think new brokers should do, and as always any advice is appreciated.
[{"id": "fb9uwc1", "text": "quality over quantity", "replies": [{"id": "fb9uznc", "text": "So how do you go about creating \u201cquality\u201d cold calls?", "replies": [{"id": "fbannqb", "text": "Actually know what is going on with their property and in their neighborhood before you talk to them. Know everything there is or you are wasting their time. What did their neighbor sell for? What\u2019s that new building under construction down the street? Etc", "replies": [], "depth": 3}], "depth": 2}, {"id": "fbdfx9j", "text": "The quality is in the quantity. There is no one punch knockout boxing strategy. No painter who painted only masterpieces. No composer who composed only hits. All quality comes out of quantity.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fb9x94a", "text": "I hate cold calling, so I did about 500 after i first started, then never did any cold at least again.", "replies": [{"id": "fbawdfj", "text": "What do you do after that?", "replies": [{"id": "fbbbe5g", "text": "I started doing property management, and just getting referrals from clients. Important to follow up with past clients as well.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fb9xpeu", "text": "I track meetings set over calls made. My goal is to set 5 meetings per week, 3 is minimum. This took on an average of between 60/80 dials per day which takes about 5 hours on the phone each day, 5 days a week", "replies": [], "depth": 1}, {"id": "fb9zu6o", "text": "Keep calling until you don\u2019t have any time to call because you\u2019re too busy taking meetings and working on deals. That\u2019s how many calls you should be making. \n\nStarting out is like moving a huge rock and it\u2019s only calls and meetings that get it moving. The deals/meetings you have, the more you have to talk about on calls and the easier they get. \n\nA decision maker is much more likely to meet if you\u2019re currently working on a deal in their building or with a competitor. Use any leverage you can to get in the room. Once in the room you\u2019re only selling your knowledge, and trying to get as much knowledge from the decision maker for future calls and meetings. Do that for two/three years and the jobs gets fun from there.", "replies": [{"id": "fba52je", "text": "This is a great answer thank you.", "replies": [{"id": "fba5gm7", "text": "Everyone who has had any success in real estate is exactly where you are now. Keep that in mind. The ones who ramp up faster are the ones that aren\u2019t looking at what others are doing, and just concentrate on what they do. You\u2019ll see colleagues leave for something different and they\u2019ll tell you it\u2019s a waste, and they can\u2019t afford to continue to make nothing working so hard. \n\nYou\u2019ll go through a lot of cycles like this, where you\u2019re unsure if you\u2019re doing it right, trying to see if there is a better way. You\u2019ll start looking around at other jobs because you\u2019re not sure if you can make it work, etc. what I did was made a commitment that I would do it for 3-years, and if I was still awful I\u2019d move on, and in those 3-years I\u2019d truly try my hardest to be successful. \n\nI\u2019ve been at it a long time and it\u2019s the only job I\u2019ve found where I can go play golf in the middle of the day if I want to, I can work whenever I want, I can make as much money as I\u2019m willing to work for, and I only answer to me at the end of the day. \n\nGood luck. If you want any specific cold calling advice let me know. What\u2019s funny about cold calling is that by the time you\u2019re really good at it, you don\u2019t need to do it that much anymore.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fbaccz8", "text": "you can do all the above or do what I used to do.\n35 calls a day.  not less not more.  you have a goal and you work towards it.  you won't have that much free time anyways but I think that's a solid number.", "replies": [{"id": "fbaht9p", "text": "Do you mean 35 dials or 35 conversations with decision makers? If latter, how many dials does it take on average for you and how much time?", "replies": [], "depth": 2}], "depth": 1}, {"id": "fbbsi31", "text": "Curious, whats your cold calling process? how do you go about it?", "replies": [{"id": "fbbtlvb", "text": "I walk the market, write down the company names. If someone is clearly having an issue size wise (product outside, etc.) then I will walk in and ask for whoever is in charge and at least try to get their card. Then I go back to the office, have the front desk girl type up all the company names I wrote down (usually between 150-300) and then I go down the list and call the companies one by one.\n\nFor landlords, I use costar to filter the properties and generate a list of all industrial properties over 10k sf, put them on a list, and go down again one by one and call all the landlords. \n\nTypically I will have something to talk about (building for sale nearby, space for lease nearby, development nearby, broker opinion of value, etc) and talk to them about it but really just trying to make a relationship and schedule them out for a follow up. Every once in awhile you will get someone who is looking for something or has some interest in what you\u2019re offering (real estate brokerage services)", "replies": [], "depth": 2}], "depth": 1}]