Cold calling FSBOs or Expireds

I have. I’m suprised more realtors don’t cold call. Before I got involved in real-estate and was just an investor I couldn’t even get the realtor I was using to cold call for me. A lot of people are scared of the phone for whatever reason.

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FSBO’s and Expireds all want to sell their homes. As far as cold calling goes, they are much easier than calling someone going into foreclosure.

The very first flip I did was a realtor that cold called me about the property…I called her months earlier about a property in the same development (of about 500 condos)…She kept my phone number, and we’re both glad that she did…

Ha. You wanted a real estate agent to cold call for you? They aren’t telemarketers. Some investors do hire an outbound call marketing specialist (i.e. telemarketer) and it may get some response depending on if the seller is motivated.

Most agents work by referral instead of old school door knocking and bugging people who already said they don’t want to work with agents. It can be a good source of business, but it would need to be part of their business model. The ROI on calling someone you already know to get a referral is more like 80% versus a cold call can be 20% if you’re lucky.

I agree - cold calling doesn’t help your close ratio any but it can be an effective way to get listings if you can convince them that they’d be an absolute idiot not to let you list their home. I would probably (if they were convincing) list my home with a Realtor that actively called me. The phone call would immediately tell me that they mean business and would most likely market my home in the same manner. Cold calling isn’t for everyone and if it’s not for you - it would be a waste of time!Try it out for a few days and see what happens.

Cold calling sucks but it works. The key is a very brief and pointed intro. If you’re opening line takes more than about 5 seconds you’re going to lose the very people you’re trying to reach.

Here are a few things I like about telemarketing:

  1. It’s free.
  2. YOU decide how many leads you want.
  3. It’s more efficent than door-knocking.
  4. You get a better response than just about any other marketing method.

Referrals are REALLY nice. But until you have more referral business than you can handle. I think cold calling is a good choice if you have the stomach for it.