Cold calling FSBOs or Expireds

[ResaleBroker]

Does anyone here cold call FSBOs or Expired using the methods of High Probability Selling or Jerry Bresser?

[jatowi]

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.

[ResaleBroker]

Which of the two (2) methods did you use?

[AaronSOLD]

I don't cold call but I do a drip letter campaign. I've had 3-4% response rate over the course of a 6-8 week mailing period. A response is considered a phone call.

[Tim7332]

I don't cold call but I do a drip letter campaign. I've had 3-4% response rate over the course of a 6-8 week mailing period. A response is considered a phone call.

Do you have a specific system you get your mailings from or did you make them yourself? I'd like to start doing that myself.

I used to cold call 250-300 realtors everyday for probably a year as a loan officer. I dont have that kind of confidence anymore though. I think that's all it comes down to.

[AaronSOLD]

I made my own letters up from scratch. I have it pretty standardized now but still spend 2 hours a week on it.

[SHEP]

OK, I have to admit, I am struggling w/ the Cold Calling thing. I get leads from the website or whatever and I don't know what to say. Partly because I hate when people cold call me. Does anybody have a dialogue they use? Also, how do you handle it when somebody sounds like they are very annoyed w/ you? shep

[Oaklandhomespecialist]

OK, I have to admit, I am struggling w/ the Cold Calling thing. I get leads from the website or whatever and I don't know what to say. Partly because I hate when people cold call me. Does anybody have a dialogue they use? Also, how do you handle it when somebody sounds like they are very annoyed w/ you? shep

First of all, a cold call implies that you have no reason to call them other than offering them service. When someone initiates contact with you (website) it's no longer cold, it's actually warm. They left information, and you're just following up.

I think a call just to thank them for visiting your website, and ask them if they were able to find the info they were looking for is great, and it usually will lead the rest of the conversation. Dont forget to "smile" over the phone lol. They CAN tell.

If someone seems annoyed, simply ask them if it's not a good time for them to talk, and if so ask them when it would be better to call them back. You'll get the idea after that lol.

[Oaklandhomespecialist]

Does anyone here cold call FSBOs or Expired using the methods of High Probability Selling or Jerry Bresser?

I've been cold calling expireds and absentee owners. For expireds, I use a Mike Ferry script that I modified to my personality. The people are generally nice to me, although they usually make a point to let me know that Im like the 20th realtor they've talked to that day. That part is sort of discouraging, but there are always those who will list if they like you and what you have to say. I dont enjoy it, but when ur new you gotta do whatever it takes. I actually have had more success with absentee owners as opposed to expireds.

On the other hand, there are agents who do 40-50 deals a year from expireds, I dont know how they do it yet though!

[Borino]

Expireds were a huge part of my business. Like you Hamid I adjusted the Mike Ferry scripts and created my own marketing materials. Sometimes I'd call, but most of the time I would go to see them in person and drop of my marketing package early in the morning. Then I would follow up relentlessly (both phone and mail).

Just FYI - to do 40 closed deals from expireds (these are based on my numbers and my area, yours may be a bit different).

40 closed deals = 45 open = 45 listings taken = 55 listing appointments = 550 expired leads = 1,100 expired contacts per year = 22 expireds contacts per week = 4.5 contacts per day.

Granted, on some days there will be only 1 or 2 worth pursuing, but on other days there are 10 or more, so 4.5 is a daily average. This also includes expireds from alternative sources (other agents, old expireds, etc).

To contact 4-5 expireds a day takes about 2.5 hours including research, package assembly, cover letters, drive time, and actual meeting.

Hope this helps.