In Episode 27 of An Investors Journey, we go over Cold Calling Basics Step-By-Step - AIJ027!
In our opinion, Cold Calling is, in our opinion, one of the best forms of getting leads.
Unlike Door Knocking, Cold Calling gives you a million chances at a first impression. You can literally call and screw up the call so many times and as long as you wait a couple of weeks they won't know it was you that called.
If you need a list to cold call listen to our episode How To Do Driving For Dollars Step By Step - AIJ023 We love creating our own lists because it usually means less competition.
Once you have your list you can send it for skip tracing to https://app.americantracers.com/batchrequests and use the PROMO Code: PRYME to get a massive discount.
NOTE: Make sure the address you use for Skip Tracing is the address of the subject property and NOT the mailing address if it's different.
Now, that your list has been skipped traced you can start the 4-Step Process to your next deal.
- Get through the list. If you're scared or nervous of screwing it up just keep in mind that all you must do is just get through the list. Don't worry about what to say or what not to say. Just get through the list. This will help build your confidence by having to speak to so many people that eventually you become numb to Cold Calling.
- Connect the dots. ONLY after you're ok with #1 you can now move to #2 which is making sure the number goes to the person that owns the house you want to buy. Simple script "Hi, I'm looking for the owner of 123 Elm."
- Test out different scripts. ONLY if you have gotten through #1 and #2 do you get the privilege to start testing different scripts. There's no one amazing script for every homeowner. Different homeowners respond differently to different scripts.
- Follow-Up. Once you have gone through the whole list at least once and gotten rid of bad numbers and wrong numbers you should go back through to leave voicemails and text messages. Follow-up is crucial because when you first called you might have gotten them at a bad time and they blew you off. So you want to try again.
Planting the seed. When you initially call someone you might get ignored because at the time they were not thinking about selling. But, now you have planted a little seed in their heads of "What-if?". This is why you want to check back with them after a couple of weeks or once a month.
Track EVERYTHING! Keep track of how every call goes. This will help you when following up later. You now recall what they said and what script you last used.
Different scripts you can use:
- FREE Home Evaluation: "Hi, I was calling to offer people in your neighborhood a FREE Evaluation for your home. Would you be interested in one?"
- Direct Approach: "Hello, My name is ____. I'm an investor here in >>your city<< and was interested to know if you have considered selling your house?"
There are a million other things you can say. Make it your own. Just don't over think it. Done is better than perfect. Eventually, you will get better and think of better things to say.
What if they're interested? Ask to go see the property. If that's an "I can't right now. Give me an offer." Then you can ask them "When was the last time ____." In the blanks put in all the major stuff.
When was the last time...
- You got a new roof
- You replaced your AC
- You updated your kitchen
- You updated your bathrooms
- You painted your whole house
- You replaced the floors
- You replaced the water heater
This helps to determine what will need to be updated. If you ask them "what types of repairs does your house need?" They may get defensive and say NONE! This may be true. Things that need to get updated don't always need to get replaced.
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