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#198119 - 01/29/08 01:45 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: That 20something RE Guy]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3098
Loc: LAND OF THE FREE!
 Originally Posted By: That 20something RE Guy
I think it's less about what he says and more about him calling 700+ people a day.



make no mistake, this is a numbers game.

if i can sell 1 listing every 90 days, how many (saleable) listings do i have go keep active at all times to have 2 closings a month? simple math formulas

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#198127 - 01/29/08 01:59 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: Danton1759]
Okeydoka Offline
Member

Registered: 01/22/08
Posts: 96
Loc: USA
 Originally Posted By: Danton1759
That20,

That sounds like a good strategy and I read about Froy Candelario before. However...one technical question for you. How do you obtain the list of phone numbers?
Also, on the same note...where do you obtain the expired's list? I did a search in my MLS and there are only about 16 expireds for the last 5 days and most of them don't have an owner phone number, and if they do...it is mostly their listing agents phone number.

Thanks,

Eldy



I've heard alot about Froy Candelario. Mike Ferry mentions him in his training programs. For someone who is such a legend, there sure is very little about him and his business on the web. It seems like he would have a web page or something. The only evidence of his existance I could find was the Calif. Real Estate license search. He is not even listed on Calif Assoc. of Realtors site.


Edited by Okeydoka (01/29/08 02:02 PM)

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#198163 - 01/29/08 03:40 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: Okeydoka]
RealDealer Offline
Veteran Member

Registered: 10/29/04
Posts: 794
Okeydoka, apparently Froy doesn't list any of his houses on the MLS, so there wouldn't be any need for him to be a member of the Realtors association. And if he does all of his business by phone he wouldn't need a website either.

Thene again maybe he's just a myth.

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#198166 - 01/29/08 03:58 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: RealDealer]
Okeydoka Offline
Member

Registered: 01/22/08
Posts: 96
Loc: USA
 Originally Posted By: RealDealer


Then again maybe he's just a myth.


Well, I know he exists, because I've seen his RE license info in the California Real Estate Licensee search pages.
But, how much do we REALLY know? I've heard of stats quoting that he does up to 1400 deals a year just by making 400-700 phone calls a day.
Truly the stuff of legends. And truly an inspirational story.
But again, how much do we really know? Is it an exaggeration?

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#198167 - 01/29/08 04:00 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: Okeydoka]
Jeffo Offline
Veteran Member

Registered: 12/14/06
Posts: 873
Loc: Eugene, Oregon
I always wonder about the phone calls. Do they mean COMPLETED phone calls!? I only actually get a human about 1 out of 4 tries, during business hours at least...

-jeff
_________________________
(541) 285-5492

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#198174 - 01/29/08 04:39 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: Jeffo]
RealDealer Offline
Veteran Member

Registered: 10/29/04
Posts: 794
1400 deals a year. That's 4 listings every single day with just 15 days off. So that's 1 listing for every 100-200 calls, but that doesn't count calls to sell each listing.

If he's the only one in his office making calls then those are some pretty heady numbers for one person to pull off day in and day out.

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#198327 - 01/29/08 10:06 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: RealDealer]
That 20something RE Guy Offline
Veteran Member

Registered: 07/26/06
Posts: 696
Loc: Circleville Ohio
When I started making cold calls.....

I got through Approximately 50 calls in 15 minutes. This included talking to live humans, and leaving messages on people's answering machines.
_________________________
Brandon E. Schlichter
Berkshire Hathaway HomeServices Plus
(740)-571-1606

Follow my property investment journal! I'm well on my way to being a property baron! http://InvestmentJoy.com

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#198369 - 01/30/08 12:05 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: That 20something RE Guy]
RealDealer Offline
Veteran Member

Registered: 10/29/04
Posts: 794
Brandon, 18 seconds per call? Are you sure about that? That's barely enough time to dial the number and let it ring once or twice.

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#198495 - 01/30/08 01:32 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: RealDealer]
Jeffo Offline
Veteran Member

Registered: 12/14/06
Posts: 873
Loc: Eugene, Oregon
It takes me much, much longer between calls but then I'm working with expired and FSBO's that I might have talked to several times already- so I need to review my notes ("how's the ice cream shop?" "any progress on getting the car sold?" "how's the boil on your husband's butt?" etc).

Even if it's a first call, I have the flyer or MLS listing in front of me, and I review it for a couple minutes so I can be conversant about the property.

-jeff
_________________________
(541) 285-5492

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#198500 - 01/30/08 01:53 PM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold calling? [Re: Jeffo]
ElkGrovePro Offline
Member

Registered: 04/11/07
Posts: 164
Loc: CA
Another niche to call are people who have had NOD's filed-if you're looking for short sale prospects.
_________________________
"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change"-Charles Darwin


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#200263 - 02/06/08 09:17 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold callin [Re: ElkGrovePro]
mihomeagent Offline
Member

Registered: 02/06/08
Posts: 60
Loc: Michigan, USA
In a January '08 Superstar phone interview of Froy Candelario by Mike Ferry, Froy said the following:

He starts his day at 3:30 AM, going to the gym for about 2 hours.

He begins his prospecting--which seems to be going around with flyers for listed property, from what I could infer--at 6:00 AM. This is door-knocking, he calls it--not phone calls. At 6 AM. He said that if there is a light on he knocks; if not, he leaves a flyer. He said that people do not mind seeing someone working, in a suit and tie, at their door, early in the morning.

So he either talks to people or leaves a flyer, he said.

He said that he door knocks until about 3:30 PM, with a one-hour lunch at noon. And he said he talks to roughly 400 people a day. Now, I have to believe that "talks to 400 people" means: Either talks to a person or leaves a flyer on their door (or wherever he leaves them--he didn't say). To talk to 400 people in 8.5 hours is an average of 47 people, about 1.5 minutes per person.

That's why I say he can't mean actually speaking to 400 people; there is no way on God's green earth that is true. He must mean leaving a flyer OR talking. If you just include time walking between doors (which are how close together? He says he knocks on a door no more than once a year; he's doing all of Los Angeles, apparently), knocking, and waiting for an answer, that's easily half a minute. And that assumes the houses are one on top of another, tightly packed.

He said he double-dips (double-ends, whatever your area calls it) 100% of his listings. He also said he does 70% of his business among Hispanics.

Then, when done with that, he starts appointments at 3:30 PM for two hours. He says his appointments last 5 minutes. He asks 3 questions (you'll recognize them if you're a Ferryite): Do you absolutely have to sell your home now? Will you price your home to sell, or do you want to keep it on the market a long time? Do you want to list your home with me now?

A lot hazy was how he gets to this point for an appointment, and where and how they take place, and what happens after he gets his answers. Does someone do the prequalification for him? (It would be straight, down-the-line Ferry prequal, taking him at his word to do Ferry 100%.) If they say "No" to any question, does he end the interview? (That would be very efficient. I kind of like the idea of it.) Then he says it takes 5 minutes to sign papers. Man, not in our area it doesn't.

I don't know what to make of all this, truly. It seems a bit unbelievable. And as he has no MLS listings, it is impossible to verify without actually shadowing him.

If true, it is the easiest system in the world, or at least the simplest; easiest if you live in a warm climate. Not much chance I'll be out door-knocking and making 400 doors today, here in Michigan. It's sleeting. It's like this for about 3 to 4 months a year.

I'm going to go to LA and actually stalk this guy, I think. (I am just kidding. Don't call the FBI on me or anything.) I would love to see him in action, and see how it works.

But if it were just a matter of this, the simplicity of it would be great. Cut down the ratio to 2 hours of it per day, rather than 8.5, and I could do with selling 1/4 of FC's putative sale numbers.

I would like to know how the story got switched from door knocking to phone canvassing his listings. I got from the Ferry interview that for a while he did phone calling, but not for long, and he's back to door knocking.

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#200265 - 02/06/08 09:22 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold callin [Re: mihomeagent]
Jennifer Allan Offline
Major Contributor

Registered: 11/12/06
Posts: 1624
Loc: The Beach
Okay, I have to ask. When does he take care of his clients?
_________________________
Jennifer Allan-Hagedorn, GRI
RE/MAX Hall of Fame
Author of Sell with Soul, Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect

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#200266 - 02/06/08 09:23 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold callin [Re: That 20something RE Guy]
mihomeagent Offline
Member

Registered: 02/06/08
Posts: 60
Loc: Michigan, USA
Brandon, could you detail your procedure a bit?

Who did you choose to call, FSBOs, expireds, neighbors to a listing/sale, or just a raw cold list? What was your script for talking to live people, and what for leaving a phone message?

And how is it working out for you over time? How much business is it generating for you?

Thanks for any info you care to share...
David

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#200267 - 02/06/08 09:23 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold callin [Re: Jennifer Allan]
Jennifer Allan Offline
Major Contributor

Registered: 11/12/06
Posts: 1624
Loc: The Beach
I get up around 4:00 am and that is MY private time. I'm not exactly dressed for company, if you know what I mean.
_________________________
Jennifer Allan-Hagedorn, GRI
RE/MAX Hall of Fame
Author of Sell with Soul, Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect

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#200269 - 02/06/08 09:26 AM Re: Cold Calling Specific - Besides FSBOs & Expireds who are you cold callin [Re: Jennifer Allan]
mihomeagent Offline
Member

Registered: 02/06/08
Posts: 60
Loc: Michigan, USA
He never takes care of his clients.

That is what he said. He has NOTHING to do with his clients beyond the listing appointment. He does not service them; he does not report to them; he does not set up their listing (well, he says he sells them all, 100%, himself, by asking his door-knocks if they want to buy the house or know someone who does, so there's no listing to set up); he does not attend closings. He leaves that--EVERYTHING--to a staff, which consists of his wife and some others--he wasn't specific about how many, though legend says he has 3 or 4 people helping him.

Let me amend that. He claims to sell every listing, no expirations; and to sell 100% of them himself. So that would be his service. And, hey, if true, that IS the service all of our clients want: Sell the house. The rest is hand-holding and excuse-making. (I exaggerate for effect, but only a little.)


Edited by mihomeagent (02/06/08 09:36 AM)
Edit Reason: Second thoughts.

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