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#76059 - 12/17/04 11:28 AM Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I know most people hate the the thought of doing Cold Calling and even worse door knocking. I have the #800, website and receive some referrals from family/friends/past clients, however I don't seem to have the listing inventory of some of the top agents at my brokerage. I was speaking with a top listing agent and he told me he gets his listings by cold calling. He told me he first started in the business door knocking and for every 30 doors he knocked, and actually got to speak with the owners he would get a hot lead. He know does cold calling and he told me for every 45 calls where he gets to talk to the owner of a home, he receives a deal or a hot lead which turns into a future listing.
I am beginning to believe that cold calling and door knocking has a measurable and more immediate success than passive marketing, when it comes to securing listings.
What I'm trying to find out is does anyone in this forum cold call or door knock? If you do what are your numbers? How many people do you need to come in contact with before you get a deal?

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#76060 - 12/18/04 01:11 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I do door-knock, but I'm very low-pressure and offer help -- free CMAs, answering questions about home inspectors and warranties, telling them what forms and services they'll need to sell their houses on their own -- stuff like that. They're very polite, but it's a crap-shoot; most of them won't get back to you. You have to be persistent...I go back every month or so, or mail a personal (not form) letter reminding them gently of what a pain it is to sell your home yourself and still be able to have a life. The key is persistence. It's a good way to get your name uppermost in their minds regarding RE...what you're shooting for is that when they think of listing, they think of you FIRST. I never phone, not even FSBOs.

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#76061 - 12/18/04 02:56 PM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
Been there, done that. I'd rather be poor than call people on the phone unsolicited. Doorknocking is not as bad for me for some reason, but I don't really care for it either.

But for those who can pull it off there are huge rewards in any sales field where the transactions are large. Nate Brooks, Tom Hopkins, Trae Zipperer and Danielle Kennedy are big on these traditional prospecting methods. Why? They work. One local agent is a huge producer and a big doorknocker - he started out Day One walking down the most expensive streets in town. The trick is to smile and be non-menacing.

(P.S. - "Cold calling" means doorknocking to some people so you might want to use the term "telemarketing" instead. I thought it was bassackwards the first time I heard it but I've heard it that way in a number of fields and companies.)

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#76062 - 12/19/04 06:07 PM Re: Cold Calling vs. Door Knocking for Listings
Shamrock Offline
Member

Registered: 08/16/04
Posts: 199
Loc: Pittsburgh, PA USA
If you're going to do cold-calling (telemarketing), you better check the "do not call" list first.

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#76063 - 12/19/04 08:15 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


As far as the "Do Not Call" List goes, I have asked telemarketers how they handle the new regulations on cold calling and they told me it doesn't bother them. They said if you call someone on the "do not call" list and they aren't receptive right away, just apologize and never call them again. I really have not met one realtor who has been fined or even affected by this new law.

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#76064 - 12/19/04 08:51 PM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
"if you call someone on the do not call list and they aren't receptive right away, just apologize and never call them again. I really have not met one realtor who has been fined or even affected by this new law."

I haven't met anyone who's been arrested for burglary either but that doesn't make it okay. Whatever happened to respecting peoples' wishes and the law?

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#76065 - 12/20/04 05:52 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Agents in our office have to read and sign a lengthy document regarding Do Not Call Rules, and are instructed how to check the registry, etc. It is a big deal. I agree with the previous post...This is the law, respect it.

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#76066 - 12/20/04 06:19 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I have been good about holding my opinions lately since this formum seems to only want to hear what it wants to hear, but I need to say this on this topic.

Just curious, don't those of you who don't cold call also feel like door knocking is basically the same thing? You are interrupting lives on the hope someone in their average 7-year turnover will hopefully be in that mode of "let's move now". In addition, out of those very few, get one who already doesn't have a relationship with a realtor or have been inundated with mailers etc over the past 7 years. Don't you feel at least a little embarrassed when the poor woman who was putting her baby to sleep now has to stop what she is doing to answer YOUR need?
I just have a real problem with this; I wouldn't do anything that I wouldn't want done to me. So just because they are on the DO NOT Call list, does that mean it's ok for you to go to their house and circumvent their efforts to stop being pestered to death by salesmen?

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#76067 - 12/20/04 06:58 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I don't knock on doors or cold call...EVER! I put myself in their shoes, and look at the situation from their perspective.

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#76068 - 12/20/04 07:08 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Scrubbing your call list with the Do Not Call database is a way to stay within the law.

I personally dont cold call, but am considering it as part of my diversification of my marketing.

There's a type of technology that might work to improve your conversion rate. I've been looking at this technology called "predictive dialer" that automatically calls with a pre-recorded script (you have it prerecorded). You can start with the question if they're thinking about selling and if so press the 1 button (or something to that effect). If they dont want to sell, the script says thank you and dials the next number.

If the person is interested, it signals you, the agent, and you can pickup the phone. Most of cold calling is going through all the people not interested in selling and act of calling, so you can reduce all that nonproductive activity and be on the phone only with interested parties.

Or, you can hire inexpensive associates for the front-end calling and nonproductive activity and get involved only with interested parties.

Just thinking about these options.

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#76069 - 12/20/04 07:23 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Lula, using recorded messages to interupt peoplesl lives like that is about 10X's worse than SPAM!! I can't believe you are considering doing that.

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#76070 - 12/20/04 07:30 AM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
Predictive dialers, eh? Those really chap my hide when they call me. Around here they're mostly used by cheesy insurance salesmen.

As for using "inexpensive associates" for telemarketing, I think you may be underestimating the cost and hassle of running a crew for this unpleasant job.

(FWIW I used to be in enterprise telecom and sold predictive dialers among other things. You might start out with a PC-based POTS system. If you're handy with computers you can set it up yourself. If and only if you wish to oscale upwards from there then you can consider digital T-1 trunks. But to be honest I think everyone who uses one of those automated annoyance machines can stick it where the sun don't shine!)

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#76071 - 12/20/04 08:12 AM Re: Cold Calling vs. Door Knocking for Listings
Shamrock Offline
Member

Registered: 08/16/04
Posts: 199
Loc: Pittsburgh, PA USA
I have never door knocked and I only cold called back in the old days when my office held cold calling sessions. If my neighborhood, residents can register with the township to be placed on a "no solitation" list which means that people knocking on doors must check with the township first to see which doors they can safely knock on.
I can tell you that if you call me or ring my doorbell when you should have checked the lists, I WILL report you.

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#76072 - 12/20/04 08:24 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I understand that telemarketing/dialers & door knocking is an inconvenience for most people, however these methods do bring in business. I feel most agents are unwilling to do it because they have too much pride and it's to beneath them to knock or call anyone they don't know. The facts are that these old methods are the best because they are in expensive and they reach people directly. If you had to decide to make 25 cold calls and go out of business? I'm willing to bet the majority would go out of business because I see it at the office all the time. What we do is real estate sales, although everyone would like to project themselves on the level of a lawyer or doctor, the truth is there are real estate offices on just about every corner.

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#76073 - 12/20/04 08:33 AM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
I realize telemarketing and doorknocking work, believe me I've been there. But people don't like it and I have empathy for them. People don't like being solicited, especially at home.

Just because something makes money and is within the law doesn't mean it's the right thing to do.

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#76074 - 12/20/04 08:48 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


If you feel your services & integrity in the real estate industry isn't special enough to broadcast to you neighborhood and another agent might do a better job than it's probably doesn't make it the right thing to do. However, if you feel your services are truly superior to what you're witnessing in the market, you are doing all homeowner's a favor by letting them know what you can do for them. If you look at your business this way cold calling isn't bad at all right? If you know how to communicate this message to your farm area, then your still viewed as a caring professional you were before you started telemarketing.

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#76075 - 12/20/04 09:07 AM Re: Cold Calling vs. Door Knocking for Listings
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
Cold Calling & Door knocking are two methods of prospecting that cause alot of controversy for both Real Estate professionals and the general public.

"Do Not Call List should Always be Checked before Calling without exception"

The public many times views this as an inconvenience and a bother, unless they just happen to be considering the possibility of buying or selling a house. Then if they do not already have a Realtor they are more than happy to talk to you and with luck you can turn them into a client.

That is why the sweathogs program exists and is still sucessful(at least while you are in the program). This is an effective method of prospecting for a new agent or an agent on a tight prospecting budget as it cost Nothing! Let me repeat that NOTHING!

To do this type of prospecting takes alot of self control and discipline. It is not for everyone and most will stop doing it once their other methods of prospecting begin to show results. It is ideal for someone with a limited SOI or just relocated to a new area.
_________________________
Paul Oaks
Oaks Real Estate Group

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#76076 - 12/20/04 10:38 AM Re: Cold Calling vs. Door Knocking for Listings
dcook22 Offline
Member

Registered: 04/06/04
Posts: 345
Loc: Plantation, FL (Broward)
Quote:
Originally posted by ArizonaAgent:
I have been good about holding my opinions lately since this formum seems to only want to hear what it wants to hear.
bummer Arizona. I always found your posts informative and interesting. If anyone thinks you should keep your opinions to yourself, then they're the fool. The one thing you may be confusing is disagreement. This is something I find "activists" doing. I'M NOT SAYING YOU'RE AN ACTIVIST!!! I'm just saying that activist types tend to put out an idea and see if people agree. If they disagree, the activist tends to think they are being shut-up, or kept down, or falling prey to THE MAN. When really, all that is happening is that people aren't agreeing with the original position.

I think you should voice any opinion you want about this industry. And if, for example, you find people telling you you're wrong about going to libraries for training material, or that spending money on marketing kits is OK, then just accept that people don't agree. It doesn't mean anyone wants you to go away.

Again, I'm not calling you an activist...i just used an analogy. please don't get upset. Email and forums can't convey emotion, inflection, or intent.

Quote:
Just curious, don't those of you who don't cold call also feel like door knocking is basically the same thing? You are interrupting lives on the hope someone in their average 7-year turnover will hopefully be in that mode of "let's move now". In addition, out of those very few, get one who already doesn't have a relationship with a realtor or have been inundated with mailers etc over the past 7 years. Don't you feel at least a little embarrassed when the poor woman who was putting her baby to sleep now has to stop what she is doing to answer YOUR need?
I just have a real problem with this; I wouldn't do anything that I wouldn't want done to me. So just because they are on the DO NOT Call list, does that mean it's ok for you to go to their house and circumvent their efforts to stop being pestered to death by salesmen?
I agree that salesmen can get annoying..or at least I think I do. I can honestly say that in 35 years of living in Queens, NY (in a nice neighborhood), no door-to-door salesman ever came to my door.

I think perhaps the personal contact is lost in many ways. I've worked with computers for a couple of years and even things like Christmas just aren't the same. Some folks might LIKE to meet a person who can help them assess their home's value. And I don't think the goal is to get the listing that day. i think the goal is to get out there and let the neighborhood know that there is someone who can help them and is a real person, not a face on a bus stop.

But if not cold-calling and door knocking, what would you suggest to a newbie agent? there is no referral base, and let's say they are new to their market, like me. i just moved here to Miami in August and got my license 11/9. What can I do to drum up business?

Thanks in advance for your reply Arizona.
_________________________
Dan

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#76077 - 12/20/04 10:45 AM Re: Cold Calling vs. Door Knocking for Listings
Mrs. Sparks Offline
Member

Registered: 12/01/04
Posts: 43
Loc: Northwest Florida
Quote:
Originally posted by Paul Oaks:
.....
That is why the sweathogs program exists and is still sucessful(at least while you are in the program). This is an effective method of prospecting for a new agent or an agent on a tight prospecting budget as it cost Nothing! Let me repeat that NOTHING!

To do this type of prospecting takes alot of self control and discipline. It is not for everyone and most will stop doing it once their other methods of prospecting begin to show results. It is ideal for someone with a limited SOI or just relocated to a new area.
I'm going to be a new agent as of next week when I pass the FL State License exam. I'm interested is the "Sweathogs Program" a Coldwell Banker program or is it an industry slang term for something else? Being newbie it's not a terminology that I am familiar with.
Thanks. smile
p.s. I'm signing up with Coldwell Bankers so that's why I'm curious.

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#76078 - 12/20/04 10:55 AM Re: Cold Calling vs. Door Knocking for Listings
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
No Sweathogs is not a Coldwell Banker program, you can check out the program at http://floydwickman.com/sweathogs/index.html

[QUOTE]Originally posted by Mrs. Sparks:
[QB] [QUOTE]Originally posted by Paul Oaks:
[qb] .....
That is why the sweathogs program exists and is still sucessful(at least while you are in the
_________________________
Paul Oaks
Oaks Real Estate Group

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#76079 - 12/20/04 12:48 PM Re: Cold Calling vs. Door Knocking for Listings
Mrs. Sparks Offline
Member

Registered: 12/01/04
Posts: 43
Loc: Northwest Florida
Thanks Paul Oaks,
I found the Weekly Assignments very useful and interesting reading; especialy the 10 ten ways to promote your business through email. Not having been through the CB training yet I'm not sure what I will need so I have bookmarked the site for future reference.

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#76080 - 12/20/04 03:08 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Thank you Paul,
I found that website very helpful.

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#76081 - 12/20/04 05:23 PM Re: Cold Calling vs. Door Knocking for Listings
Shamrock Offline
Member

Registered: 08/16/04
Posts: 199
Loc: Pittsburgh, PA USA
I went through the Sweathogs program many many years ago. It is a fantastic program. My company
also does a similar program called Eagles which is geared to agents who have been in the business for awhile. We had to recommit to doing all the things we had to do in Sweathogs. It was a lot of work and a lot of fun. BTW, my team won!

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#76082 - 12/20/04 05:33 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Thanks Cook, now I have 3 people who at least see the value in telling the truth.

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#76083 - 12/20/04 05:41 PM Re: Cold Calling vs. Door Knocking for Listings
higgyshouses Offline
Member

Registered: 11/02/04
Posts: 56
Loc: White Rock, BC. Canada
Arizona
I was curious what is your marketing/prospecting program? Direct mail, newsletter, flyers? I hope you don't mind sharing with us.

Higgy

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#76084 - 12/20/04 06:06 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Well, I recently moved from Wa state to AZ. I passed this states mortgage brokers test and am awaiting the license. What I do is market my mortgage service for free to get the real estate business. Basically, I tell people, "look, if you give me your real estate business, I'll give you par rate with no origination fee" On a 200K loan that is a savings of 2,000 bucks. Other mortgage guys can't compete with me cause they would essencially work for free. Other realtors can't compete unless they pay the origination fee for their clients.
I basically network! I golf just about everyday, meet 2-4 new people and about the 3rd hole we usually start talking business. Everyone I come accross says, "oh my, that's a great idea". So I avoid the mass mailings ( tried that, no luck ). Also, I am big on Open houses as long as they are newly listed properties. Then I can give the pitch to new prospective buyers. Some even change agents to work with me cause I save them so much money on their mortgage. In addition I explain to people how most mortgage brokers are making a killing on the back end. When people go back and look at their current mortgage brokers good faith estimate and see they could have been given a better rate if it weren't for the greedy mortgage guy, they usually switch to me.
SO there, now you don't have to be curious. Most of my business comes from the golf course and networking!!

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#76085 - 12/20/04 06:14 PM Re: Cold Calling vs. Door Knocking for Listings
higgyshouses Offline
Member

Registered: 11/02/04
Posts: 56
Loc: White Rock, BC. Canada
Sucks to be you, LOL if you were just selling real estate and not in the mortgage business, what would you do besides golf to get listings.
The golf idea sounds good but our weather up here is pretty much like yours in WA. Wet as H__l.

Higgy

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#76086 - 12/20/04 06:20 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Ya know, if I was just selling real estate... I have no idea, the competition here is stagering. Everyone and their mother is a realtor in AZ. I can't answer that question other than just doing open houses every Sat and Sun I possibly could. When I started selling real estate in Seattle years and years ago I did just that, open houses constantly. Being that I was there for so long I knew a lot of people, again, networking is absolutely the best way to get business!!! 1. its free 2. it works .. all this other sales crap traing stuff works... "EVENTUALLY" after you have worked you fingers to the bone.

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#76087 - 12/20/04 06:35 PM Re: Cold Calling vs. Door Knocking for Listings
brseminars Offline
Veteran Member

Registered: 01/05/04
Posts: 1347
Loc: Hutchinson, KS. 67501
ArizonaAgent,

Nice to see you are back.

Please show me the blatant solicitations from any of the moderators that you speak of in this thread so I can delete them.

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#76088 - 12/20/04 07:19 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I really didn't go away... just got tired of watching a lot of the blind leading the blind. Just going to keep a low profile and watch a little.

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#76089 - 12/21/04 07:45 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Arizona,
I totally understand where your coming from. One thing I'd like to see less of is the skeptics that like shooting down new ideas and have no experiences and insight to inspire agents in this forum. Motivation is key to our success. I forums or idea boards to find an edge in my market and I find some negative postings, by people that have no solid experience does irritate me. I've been a full-time realtor going on my third year and I'm always looking to expand my knowledge to get to a new level of business. I know you didn't agree with the automated dialer, but I know a mortgage broker who built his business with this technique. He didn't stay with the dialer but it helped him earn enough money to market to a large farm area with postcards and newsletters. We all know if you start out farming by mail, more often than not, you'll end up broke by the second or third month. The only downside which limits me from using one at this time is that you need to be by a phone to pick up those people which want to connect directly to you. The mortgage broker which used this auto-dialer had a full-time customer service representative to pick up the calls. For agents which don't have any idea how to generate leads and a limited budget this might be a short term solution. If an auto-dialer system can bring you consistent measurable leads at a low cost, Would you use one?

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#76090 - 12/21/04 08:06 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Thank you for your input Jgomez. I appreciate input from both sides about an idea -- from the completely negative and those with stories where they work. Helps me decide. smile Am not sure yet, but am looking at it.

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#76091 - 12/21/04 09:39 AM Re: Cold Calling vs. Door Knocking for Listings
cherir Offline
Member

Registered: 04/27/04
Posts: 412
You know, I did the Sweathog program and thought it was excellent, but I would never take it again. Why? Our company now supports Walt Frey and the Ninja Selling platform and let me tell you, it has turned our brains all around!! This man (and what he teaches) is awesome.

If you want to make lots of money AND have a life, then check out Walt Frey. I just checked his website, and some of his seminars are open to the public, while most are private. Our company had him come for a one day seminar, and then we have had him come once a month for what they call a "coaching" progarm, although it isn't truly coaching (not one on one). But, it is a shot in the arm each month, and for instance, what we learned last week most of us had NEVER heard, never been taught. And this is with years of experience.

So far, there isn't ONE thing any agent would not do, unlike Sweathogs and other similar programs. Now, you might personally believe that a successful agent would have to do those things most wouldn't do, BUT not with the Ninja Selling platform/idea. I really believe it will turn the industry around if everyone does something similar.

The basic principle is called the Magic 50. You know 50 people. Keep in regular contact with those 50 people, and look out.

This was very poignant - how many of us spend all this money on newspaper or other advertising? What kind of client does that bring? A STRANGER. Most of us would say we dislike working with strangers, and would prefer to have referrals from past clients/family/friends. So why spend so much time and effort attracting strangers? Are strangers loyal to you? Heck no. What about past clients/family/friends? More than likely, YES they are loyal.

Truly, if you are a new agent or just an agent who wants to work smart, have a life, and make a lot of money, check this out!

Website is pretty easy to figure out - remember Walt Frey. lol

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#76092 - 12/21/04 10:11 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


I understand & have implimented a referral system, which works well, but the numbers are hard to predict and rely on at best. Let me ask you Cherir, with your "Magic 50" How many referrals do you receive on average monthly or quarterly?

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#76093 - 12/21/04 10:58 AM Re: Cold Calling vs. Door Knocking for Listings
cherir Offline
Member

Registered: 04/27/04
Posts: 412
JGomez,

It is hard for me to answer this question, because I was already at a 65% referral business after 2 years, and don't know what referral can be attributed directly to the program. A favorite colleague of mine, however, was swamped for December with 10 closings and 8 active buyers. NOT what she planned to do - she actually wanted some time off! But, she had been faithfully doing her "hour of power" per week, and just by calling her "Magic 50" and/or past clients/friends, she raked all this in.

She honestly said she was calling just to say "Hey, I did the calling to say I did it. I had no idea it would REALLY bring in business that quickly!"

Walt Frey has very specific rules for this calling, as well. For example, when calling out of the blue, never directly ask for their business or a referral. 100% of people hate this, and it puts them off. You call using the FORD technique - ask something regarding Family, occupation, recreation or dreams and just visit. In a few short minutes, they will ask YOU about your business, and that is how you get their respect and all this business. They want to know you actually care about them, not calling just to get some business.

The average agent could improve on keeping in contact with their past clients - it is just too easy to do. My business partner called her Great Aunt last month (who is almost 90) and just visited. Later that week, a friend of her great aunt needed a Realtor and lo and behold, because of the phone call, Great Aunt Peet remembered we were in real estate and referred us. Does Aunt Pete always remember us? I doubt it! Sometimes, your own mother can forget (we've all heard stories!).

What really amazes me about this program is the buyer and seller business plans - a complete change from the regular way we've all been trained.

Last week's session was on Buyer's and how to go beyond the features they want and find out their true needs. We've all heard/said "Buyers are liars" because they don't buy what they said they wanted. With this new technique, I came home and practiced on my husband.

We recently purchased a home, and I liken the experience of shopping with him to what hell might be like! lol After this technique, I sat SHOCKED at what I learned. I have been married 18 years to this man, and always heard his "features" - what he had to have. But never had I delved deep enough (no one naturally does this!) and found out WHY. The WHY is what shocked me!! And you can't simply say "And why would you like a level lot?" That won't work because until asked the right question the right way, even the buyer doesn't know exactly "why". Maybe on bedrooms - need 4 because of number of children, but some of the other stuff?

For example, Walt always had a pool in the last 3 homes he has owned. Either had one or he put one in. An agent who didn't ask the right questions would have assumed he liked to swim. NO. He has never been in any pool he had - well, once he had a wetsuit on and had to get in and clean it - long story. Anyway, the LAST reason he wanted a pool was to personally use it. But it met some other need. So, if an agent took him to a home and said "And here is a great pool - can't you imagine getting up in the morning and taking a brisk swim?" Walt would have been completely turned off. That phrasing did not appeal to him at all.

It is very involved, and honestly different from anything I have ever heard/learned, and I am an education-hound!

Cheri, Realtor in Iowa

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#76094 - 12/21/04 11:11 AM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Cheri,
Thanks for sharing your posting and insight into Ninja Selling.

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#76095 - 12/21/04 12:52 PM Re: Cold Calling vs. Door Knocking for Listings
Guest
Unregistered


Ok Gomez, so what about the thousands of people you completely [censored] off, so you can make a buck? Anyone using those dialers should be thrown in jail. I am on the do not call list and I still get those calls. Anyone using those are SCUM !! FLAT OUT!!

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#76096 - 12/21/04 01:07 PM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
Exactly. I have morals and empathy and there are a lot of things I won't do even if they happen to be profitable.

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#76097 - 12/21/04 02:16 PM Re: Cold Calling vs. Door Knocking for Listings
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I don't know about you but if I get a polite telemarketer, which immediately cuts his or her call off, when I say I'm not interested and never calls me again - it will not spoil my day at all. You two look too much into why not to call, that your making it into a crime like stealing. Everytime a commercial interupts what you're watching on T.V. do you storm off mad? You could hang up a phone whenever you want and go about your day. I don't think "morals" and "empathy" has anything to do with the cold calling approach, I think you may lack the confidence to speak in a cold calling environment. If cold calling is not your thing, thats okay because there are other ways to market - but none as cost effective and measurable.

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#76098 - 12/21/04 02:57 PM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
You're wearing it like a badge of honor, Gomez, but the reality is that it's an invasive and rude practice no matter how you color it.

It's not an issue of confidence - I did traditional prospecting for years including telemarketing - it's a matter of empathy. I don't enjoy doing things that I know people don't like. And people don't like telemarketers. It's totally different than television commercials and you know that so don't insult us with the analogy. And quit exaggerating to make a point, no one said it ruins their day.

The rare moment I have to myself to sit and watch television if the phone rings I have to get up and answer it and if it's a telemarketer that's a greedy and rude interruption. I'm frankly astounded that you're defending the practice.

Everybody hates telemarketers. End of story.

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#76099 - 12/21/04 03:21 PM Re: Cold Calling vs. Door Knocking for Listings
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Like most things telemarketing/door knocking being inconvenience is debatable; however, the effectiveness and results are not. The facts are when you start running your business, like a business the decision to use implement a cold calling system is a strategic tool for fast results. You can groan about every telemarketer that has called you, but I'm not interested in that story. What does spark my interested in is that real estate professional which made those 30 calls a day and increased there bottom line and sphere of influence considerably. The stories and experience those people have to offer helps me. Besides your personal beliefs Jflynn, do you have any kind of experience or skilled marketing technique to offer?

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#76100 - 12/21/04 05:24 PM Re: Cold Calling vs. Door Knocking for Listings
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
Quote:
Originally posted by JGomez:
telemarketing/door knocking being inconvenience is debatable
On that note I'm bowing out of this discussion.

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#76101 - 12/21/04 06:45 PM Re: Cold Calling vs. Door Knocking for Listings
Angie 0729 Offline
Major Contributor

Registered: 08/08/04
Posts: 1617
I agree with anti-telemarketers...I hate it..can't stand being interupted...door knocking same thing...It's just plain rude!

Angie

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#76102 - 12/21/04 06:54 PM Re: Cold Calling vs. Door Knocking for Listings
higgyshouses Offline
Member

Registered: 11/02/04
Posts: 56
Loc: White Rock, BC. Canada
I've got two listing appointments tomorrow off a direct response mail out I just did the people phoned me and asked me about my services. No Cold Calling, I haven't even gotten an appointment off of cold calling or door knocking, but I have off my farming efforts. Thanks. BR Seminars.

Higgy

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#76103 - 12/21/04 08:17 PM Re: Cold Calling vs. Door Knocking for Listings
Montanaland Offline
Veteran Member

Registered: 07/10/04
Posts: 581
Loc: Billings, MT
The Investment Guru John T Reed talks about his early days (60-70's) before Harvard when he used to cold call 100 people a day as a agent in NJ. The other agents would get so jealous because of the amount of listings he had. He stated it was not easy work at all, but in those days I can see where that way of farming was the only way to go. These days, and in this generation the phone has been abused by worthless tele-marketers who have taken the trust out of the general public. Honesty and solid values are a lesser part of society, when it comes to sales, because the trust has been broken- mostly by the people peddeling worthless crap that don't take the word NO. So, cold-calling probably still works, but there are a lot more No's and short/blunt conversations> these days........

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#76104 - 12/21/04 08:30 PM Re: Cold Calling vs. Door Knocking for Listings
higgyshouses Offline
Member

Registered: 11/02/04
Posts: 56
Loc: White Rock, BC. Canada
I agree with you montana, how many news stories have we seen or heard lately about telemarketing scams that have been a total intrusion in peoples lives and some with devistating consequences.

Higgy

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#76105 - 12/21/04 11:13 PM Re: Cold Calling vs. Door Knocking for Listings
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I agree there is people out there that abuse the phone system. I feel any cold prospecting is an up hill battle, but done the right way can be profitable. I know Higgy mentioned mail outs, but my experience with mail outs is that you need to send a lot out on a consistent basis which costs a lot of money before you reap the rewards. I mail only to my sphere of influence because I know the best way to do business is with people that know you (sphere of influence). Once you start dealing with referrals, you never want to deal with anything else right? The thing is if you don't have a large enough sphere of influence, you may not be building your business as quickly as you might have potentially if you made those extra calls. Took kick start a good listing campaign and to expand your sphere of influence on a limited budget and time, cold calling may be the way to go. If there is another way let me know how you do it?

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#76106 - 12/21/04 11:30 PM Re: Cold Calling vs. Door Knocking for Listings
Montanaland Offline
Veteran Member

Registered: 07/10/04
Posts: 581
Loc: Billings, MT
To my understanding, however I am new to RE- Is that you can generate a large enough Buyer-pool using the 800# and soon to be mini-sites that you plug into your cms and follow up with a drip-campaign that includes postcards/newsletters etc. As for the prospecting involving cold-calls and door-knocking I am only doing that-door knocking with expireds using (Tony Zitos program) and Fsbo's. I have understood that a lot of coaches only recommend door-knocking over cold-calling for your fist contact. (i.e. beyondsales/nate brooks, etc.)

Does anyone have anything to add or that I'm missing on this topic? smile

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#76107 - 12/21/04 11:57 PM Re: Cold Calling vs. Door Knocking for Listings
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800 numbers are awesome for Buyer leads, I use the 800 number with unbelievable success. Its a great way to find out who is in the market to buy, however, I haven't received many listings. The 800 number is a great way to build yourself up financially to maintain a farm budget. I run full page ads in 2 different home magazines. I pay about $700 dollars a page but it's well worth it because you get immediate results. I find speaking with FSBO's is a lot more difficult than knocking doors in a neighborhood and making friends. I do prospect FSBO's, but what I noticed is that if your not the first one to reach them, they are most often really hostile from the last agent that visited them.

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#76108 - 12/22/04 07:02 AM Re: Cold Calling vs. Door Knocking for Listings
dcook22 Offline
Member

Registered: 04/06/04
Posts: 345
Loc: Plantation, FL (Broward)
This is a good topic.

Here's my opinion on what's been bounced around:

1. Cold-Calling: I won't do it. I do think it annoys people. I know it annoys me, and I'm a pretty friendly guy. I will say, however, that it is still a viable and successful marketing tool. Why would I say this? For the same reason we place silly little three-line classified ads even though there are a million of them in the paper. They work. If cold-calling didn't work, it would have died off long ago. I have never purchased anything from a cold-caller, but obviously lots of folks do. Now, I will say that selling your home is a tall order for a cold-call. It's not like I'm subscribing to the newspaper...this is a half-million dollar investment. So, I won't cold-call because it doesn't appeal to me, but I won't shoot down anyone who wants to try it.

2. Pre-recorded calls: Well, to be honest, I never listen to them. I honestly have little to no idea what they were trying to sell me, but when I hear "Hi, This is a pre-recorded message from..." or "Hi, in a moment, a representative of blahblah incorporated will be on the line. Please hold..." I hang up. It's easier to hang up on recordings than it is to hang up on a cold-caller because I don't feel like I'm hurting the feelings of some kid who is trying to earn an honest buck. No one will ever get me to work with them based on a pre-recorded message calling me. If you think it might help you, cool, but it wouldn't work on me.

Also, check the DNC rules. I think you can still be in violation even if a machine calls people.

3. Door-Knocking: I've never done it, but I'm goiong to. I'm starting the BeyondSales plan and I have a very friendly demeanor and personality. I don't think I'll be bothering too many people. I'll be nice, not pushy, and genuinely helpful. If folks slam a door in my face, so be it. I have a feeling, however, that most people will kindly say "no thanks" and I'll move on. I think door-knocking is far less of an interruption than a cold-call because of the bad rep telemarketers have gotten. And I also think that most people are generally nice to strangers. (That's odd coming from a guy who spent the first 35 years of his life in Queens, NYC, no?) But it's true. I think it's harder for someone to be rude to me if I knock on their door than if I call them. I don't mind getting a "no" or a door closed on me. My goal from door-knocking is to get my face out there.

4. Direct mail: I will definitely do it! I think this is my best way to reach people en masse in my new market. I'm working out all the kinks right now and my campaign will strat right after the new year. Higgy, I'd love to know what your mailer said that got you those listing leads.

5. Working FSBO's: I'll definitely do this as well. I'm working on a system that i think will make me lots of money. I'm looking forward to this market.

6. Working expireds: Definitely. There aren't a whole lot of expired listings here in Miami, so the market is small, but I think I have a twist that will set me apart. We'll see how it works out.

7. Sphere of Influence: I moved here to Miami in September. I know maybe 8 people down here and three of them are REALTORS. My SOI is not big. All my friends are in NYC. I will certainly market to them for investment properties as absentee owners, but beyond that, I don't have too many options. Unless of curse someone has some ideas for me.

8. Display ads: I'll use them, but not until february. I placed a half-page ad in a homes magazine (a good one) and got not a single call. Probably the slow holiday month combined with the fact that i'm an unknown. I'll be changing the copy a bit and marketing myself a bit ifferently, but no need to waste money at the moment.

So those are my opinions.

Dan

EDIT: Almost forgot...

9. 800#: I have proquest and it will be an integral part of my marketing.
_________________________
Dan

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#76109 - 12/22/04 07:12 AM Re: Cold Calling vs. Door Knocking for Listings
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Posts like this are a direct violation of forum rules and will not be allowed to take place.

That post is totally unacceptable!!

If you would like to make your point without the defamatory remarks, please do so.

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#76110 - 12/22/04 08:18 AM Re: Cold Calling vs. Door Knocking for Listings
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I'm sick of the vulgar posts...Can't people that claim to be professionals make their points without being nasty and crude?

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#76111 - 12/22/04 08:24 AM Re: Cold Calling vs. Door Knocking for Listings
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Unregistered


Great idea to remove that post...

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#76112 - 01/09/05 09:30 PM Re: Cold Calling vs. Door Knocking for Listings
altarealtor Offline
Member

Registered: 01/09/05
Posts: 390
I don't cold call. I used to but I actually started to feel some compasion toward the recipients. I do door knock and find it rewarding. Consider this, during a political election, you expect, and in my case, hope the candidates to come by. After all, that's part of thier job isn't it?. Many people want to meet those that do business in their neighbourhoods. It's a sense of community and Realtors are a large part of that.

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#76113 - 01/13/05 03:40 PM Re: Cold Calling vs. Door Knocking for Listings
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Unregistered


This is informative to me... I work in a small family brokerage, and my uncle/broker has been pressuring me to door knock. I don't think it would be as effective as it was for him in the 60's... people are very turned off by cold sales.
Also, we're in an area of many single-parent and two-income homes, so the window of when people are home and it's not dark is very small, and their time is pretty valuable.
I feel that a passive marketing campaign makes the decision to work with you "their" decision. I am considering doing a large scale doorhanger campaign on my neighborhood in the coming months.

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