This is a simple path but not an easy path. Few agents have the desire or fortitude to work this path at a high level.
Not only do you have to make hours of calls every day to often random people, it is wasted time if you are not following up on anyone that you’ve talked to before. A common saying among agents on this path is, “I call them until they buy or die.”
This path is purely a numbers game that punishes you if you cannot handle hearing “no.”
There are three kinds of cold calls where at least one is actually bit warm.
- Call arounds are where you call a neighborhood looking for people that are thinking of buying or selling.
- For Sale By Owners (FSBO’s) are trying to sell on their own and you call them pitching why you should represent them.
- Expireds are where they were selling but their listing contract expired and they haven’t relisted for some reason.
If you pick this path, be prepared to sit at a desk and make a lot of phone calls. The ratio of conversations is quite small but I know many agents are making a career out of this and they like the challenge. I think for most of them there’s a bit of a hunter mentality.
We have scripts and strategies for this path here.
Things to consider if this is your chosen path:
- You have to make calls every day.
- Your follow-up system has to be impeccable and relentless
- You must become rejection-proof which means you don’t let it affect your or at least go home with you.
- You will need to pay for a dialing system and a source of leads if the dialer doesn’t provide that.
- You are using the same list has many other agents in your market.
- This is the best source of “now” business.