Cold calling FSBOs or Expireds

[Mark Z]

The best training is with the Mike Ferry organization. I joined their coaching program exactly two years ago. Before I met Mike, I was doing 32 transactions a year, the first year in coaching I did 58 transactions and made just under $300,000. My second year which was 2007, I closed 77 transactions and made well over $350,000. Does it work? Only if you do! It changed my life and I feel like I owe it to you to let you know, you're missing out every day you are not involved. It's awesome.

[Raymond B]

I see a lot of people that do call off of expired listings and the FSBO people, but my question is does anyone call to convert renters to buyers anymore? it works if you have some listing already and in this market doesn't everyone have a few listings?

Once you have the product (the listing) don't sit back and wait, try to go out and find the borrowers by calling renters that make a good income. You can pull a list specifically for that criteria.

Just my two cents.

[Steve Didier]

Prospecting for buyers by calling higher end apartment renters can work very well - I have known several agents who have picked up some good business by doing just that. For myself, I prefer working with listings. They take less time than buyers and are therefore a more efficient use of the hours I have in each day.

Referring to your post Raymond, I do call around each listing that I take just to let everyone in the neighborhood know the home is for sale and see if they know anyone who would be interested in purchasing there. I occasionally turn up a good buyer but more often than not, I will get a listing then or sometime in the future from someone in the area. It seems that people are actually impressed when a listing agent is actively working on finding a buyer instead of throwing it on the MLS and waiting for the phone to ring.

[ProJuMp2001]

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

They say you must change the way you look at cold calling. Because you don't like getting cold calls you feel that everyone is like that. The truth is many people really don't mind and some even like to get calls lonely people. so not everyone hates getting called, and if they do they will just hang up so I wouldn't worry about it. Just think of the money. Its not like you are doing this for nothing or to just make yourself work. Its for the change at a listing. It beats gambling.

[FSBOScripts.com]

If you're going to cold-call, FSBOS/Expireds is the way to do it. Don't worry about being rejected. There are basically TWO FSBOs. The first, and the majority of FSBOs (in my experience) is the seller who wants to save money, so they are "trying it" FSBO to see if they can sell without paying an agent $10K+ of their equity. Let's be honest, we all like to save money. I know I do. I don't blame anyone for wanting to FSBO. THESE are the sellers you are looking for. You don't need to "talk them into" listing, you need to be there so that when they decide to list, they list with you. The SECOND FSBO is just the arrogant "YOU GUYS ARE WAY OVER PAID" types. Those are the ones who will be rude a majority of the time. Forget these people. They will not be any nicer once you list their property. Keep in mind, YOU DECIDE who you do business with. As long as you know this up front, you shouldn't feel "rejected" by people who don't want to do business with you no matter what you could offer them. They are simply rejecting the industry as a whole. It is nothing personal. As far as the Mike Ferry comments... I've heard nothing but good things from people who have worked that system. Like most of the "systems" in marketing... if you work it, it works...

Raymond

Raymond

[Raymond B]

How many people still cold call renters with high incomes to convert to first time buyers? We have had some really good success with this recently in the Las Vegas market for a Realtor client but I'm curious if this is working everywhere.

Your thoughts???

[Del Mar Homes Pro]

I agree that FSBOs and Expireds can be a good source of biz. The letters and phone calls don't work nearly as well as just stopping by for a visit. Any excuse to make face to face contact is a good one. The problem with these sources in the current San Diego market is that there just aren't very many of them. But it's definitely worth the effort.