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#457385 - 04/17/17 09:02 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! **** [Re: ponce_surf]
Mr. Clean Offline
Member

Registered: 04/03/17
Posts: 139
Loc: Western Canada
Originally Posted By: ponce_surf
Has anyone tried to prospect in a higher priced area? Maybe out of state and just collect 25% referrals by referring to an agent out there. For example where I live the average home price is 200k. Whereas in San Francisco the average home price is 1million. I could make more off of San Francisco referrals then I can if I work my own leads in Orlando. And there's no headache of actually closing deals. All I have to do is cold call all day. This idea came to me when I referred a lead to an agent I know in San Fran and it closed I made $7,500 just off a referral. My average commission from a sale here in Florida is $5,000. Any thoughts?


Economics would suggest that the competition in San Fran and any other higher priced area is much higher, which pretty much balances it out. For example, in San Fran you might get 20 must-sell leads, but you (or your referred agent) can only close 1 of those on average because your leads are far more likely to have a family member in the business, there are lots more agents cold calling who also have those same leads in their database, big teams will offer expensive marketing plans on listing pitches and beat you out, etc. Whereas in your lower priced area you might take 20 must-sell leads and close on 5 of them, because people are way less likely to have a relative in the business, agents can't spend as much on marketing / cutting fees, less people cold calling, etc.

I'm 22 and only a month into the business so I'm not speaking from experience, just applying the theory from my college economics courses lol. Maybe one of the experienced guys can weigh in too

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#457386 - 04/17/17 09:19 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: ponce_surf]
Mr. G Offline
Member

Registered: 10/06/10
Posts: 10
Loc: CA
My first thought: if you are not licensed in California then this might be some kind of violation. You probably need each state's real estate license to solicit business in that state. Not the same as a referral from out of state, if you are actively soliciting business in another state.

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#457387 - 04/17/17 03:25 PM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
FairOaksTim Offline
Junior Member

Registered: 04/11/17
Posts: 1
Loc: Sacramento, California
I'm new to cold calling. What scripts have been working best for you? Any guidance would be appreciated.

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#457388 - 04/17/17 04:32 PM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
sky's the limit Offline
Member

Registered: 03/11/17
Posts: 13
Loc: AZ
Thoughts on FSBO's and Expireds?

And more specifically, what is everyone's stats when it comes to FSBO/Expireds contact to appointment ratios?

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#457390 - 04/17/17 05:57 PM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
miracle Offline
Member

Registered: 10/28/14
Posts: 100
Loc: Canada
Ponce Surf,

Not a bad idea to cold call for other realtors.

You can call from the Philippines, or some other beautiful location, and collect referral fees!

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#457398 - 04/18/17 10:59 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
YourAgentVon Offline
Member

Registered: 03/08/17
Posts: 12
Loc: Las Vegas, NV
Has anyone ever thought of being Credit Repair Certified? Looking to see if it would help as a real estate agent to provide more value to prospects/clients who need assistance in repairing their credit to purchase a home.

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#457399 - 04/18/17 11:54 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7678
Loc: Vermont's North-East Kingdom
It would be a nice gesture . . . . but that kind of serious credit repair takes a long time, months and often years worth of time; and most Agents don't have that kind of patience.

And besides, most Buyers won't like being told what to do, by you or by anyone else . . . . and even then, they'll forget that you are the one who helped straighten out their lives - IF they ever get straightened out !

But it would be a nice gesture anyway.

PS: this topic probably deserves its own thread . . . . if it doesn't have one already.


Edited by Vermont (04/18/17 12:07 PM)
Edit Reason: Added PostScript
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#457408 - 04/19/17 03:58 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
Z06Fanatic Offline
Member

Registered: 08/06/16
Posts: 251
Loc: US
anyone have any major contact issues when double mojoing? Past couple days my contact rate has been INSANELY low - I think I had 5% yesterday......obviously I need to expand my calling territories but wondering if there's some technical issues that could be messing me up.....

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#457410 - 04/19/17 06:28 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: FairOaksTim]
Z06Fanatic Offline
Member

Registered: 08/06/16
Posts: 251
Loc: US
Originally Posted By: FairOaksTim
I'm new to cold calling. What scripts have been working best for you? Any guidance would be appreciated.


this thread has all the answers to these questions + much more...if you don't read it start to finish you don't like money.

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#457412 - 04/19/17 09:03 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
WolfHouse Offline
Member

Registered: 04/03/17
Posts: 37
Loc: Winter Park, Florida (United S...
Take action. Leave the non-action takers in the dust. My motto
_________________________
Wolf Wants Houses in Florida

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#457425 - 04/21/17 06:50 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
Lucky Leonardo Offline
Major Contributor

Registered: 12/26/09
Posts: 1988
Loc: CA
IT'S HERE.....

Ontario 's Fair Housing Plan.....

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#457426 - 04/21/17 07:27 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
sualk54 Online   content
Member

Registered: 03/19/13
Posts: 365
Loc: Hamilton, ON
Originally Posted By: Lucky Leonardo
IT'S HERE.....

Ontario 's Fair Housing Plan.....


it sucks

more reporting requirements, possibly no more double-ends, monitoring of foreign buyers [never had one in over 300 transactions] on top of new FINTRAC requirement that clients are deemed to be in a business relationship with the brokerage after the third transaction in 5 years and this must be monitored and reported- seriously, WTF?

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#457427 - 04/21/17 08:17 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
Trouble Offline
Member

Registered: 02/14/16
Posts: 263
Loc: GTA Ontario
I think the rent controls are the worst part of it. Absolutely crazy. It will result in less supply of rental properties, and therefore higher rents. Developers like MINTO will forego building rental properties since the math won't work. Bad for small investors too, holding a few properties. It's all about the math.

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#457428 - 04/21/17 08:38 AM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
RonnieEmz Offline
Veteran Member

Registered: 08/20/14
Posts: 601
Loc: NY
Why and how no more double ends ?

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#457430 - 04/21/17 12:54 PM Re: I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! [Re: Lucky Leonardo]
Trouble Offline
Member

Registered: 02/14/16
Posts: 263
Loc: GTA Ontario
Ending double-ending.... The socialist provincial government in Ontario thinks it's a good idea to prohibit mutiple -representation. So Listing agents won't be able to represent a Buyer for his own Listing. They feel there isn't enough transparency in a offer situation and too much manipulation by the Listing Agent, in this very hot market full of bidding wars. It certainly could be debated endlessly either way.
At this point it is not yet law, but simply tabled for "discussion" High chance it will go thru, as I understand it did go thru in British Columbia.

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