Cold calling is here to stay. At least in the real estate industry, it remains a highly-effective method for generating leads and new business for your agency.
In this guide, we’ll show you how to get started to build a real estate cold calling campaign. Plus, you’ll get 15 effective cold calling scripts to use in various types of conversations.
Real estate cold calls are a method for generating real estate leads and clients. It involves calling homeowners or buyers with whom you have not done business before to advertise your real estate services and convince them to buy or sell with your agency.
A successful cold call usually results in a face-to-face meeting and property appraisal or at the least, a second follow-up call. Cold calling is an effective sales tool that various industries rely on to generate leads and make sales, especially in the beginning stages of their business.
The benefits of cold calling for your real estate business
At the cost of initial awkwardness or possible hostility from recipients, cold calling is the number one way to a direct line of communication to your ideal client–your prospect. In this case, it allows you to initiate conversations with property owners or people looking for their ideal home to buy. Cold calling as a strategy is beneficial for a number of reasons, including:
Saving money: Making phone calls costs a lot less and potentially has more ROI than other lead generation methods, such as print ads and door-to-door sales. Plus, your list is likely made of pre-qualified prospects who own homes or are looking to buy.
Discovering potential clients: Cold calling is a direct sales technique that has a high rate of failure, but also a really high rate of success. If your prospect stays on the line, you have a really high probability of converting them.
Building relationships: Cold calling, more than other methods, gets you a direct window into the mind of your prospect, allowing them to feel heard and also giving you valuable information on how best to serve their needs.
Not getting ignored by qualified prospects: While a cold email or text can be ignored or put aside for a different day, a call requires an immediate response that puts healthy pressure on the prospect to make decisions. Cold calling helps you identify prospects that are on the fence and get them to choose a side to get off (hopefully in your favor).
With those benefits in mind, it’s no wonder cold calling is still alive and well as a sales strategy in the real estate industry.
So, how do you approach a cold calling campaign to increase your chances of success? Let’s look at some strategies behind effective real estate cold calling.
Strategies for effective cold calling
Cold calling is not as simple as picking up the phone, dialing your contact’s number, and sealing the deal. You need a solid foundation before you start. Here are some key strategies to ensure you hit the ground running from your first cold call.
Do your research
It helps to be as prepared as possible before you start your cold calling crusade. First, gather or purchase a list of leads that live in your dedicated territory. You’ll want to know the names, numbers, and addresses of your prospects at the bare minimum.
It helps to also have some knowledge of the areas your prospect lives in, such as landmarks, local haunts, and common issues people may have in that area.
Set goals
There are two types of goals to set as a cold caller: lag goals and lead goals. Lag goals are focused on results. For example, your lag goal might be to get 10 prospects to schedule a face-to-face meeting with you in the week.
While these are great at helping you to work towards a favorable outcome, it’s only the half of it. Next, you want to set lead goals. Lead goals are the measurable actions that you have complete control over. Getting leads to agree to a meeting is not completely in your control, but asking for a meeting is.
An example of lead goals for real estate cold calling could be “Ask 50 sellers to meet for a property appraisal,” “Make 100 cold calls this week” or “Use a new script on 50% of my calls today.”
You can accomplish lead goals without relying on an outside force (namely your prospect), so they’re great for keeping motivated as you pursue your lag goals.
Use empathy and active listening
Effective cold calls often begin as a friendly conversation. While it’s important to ensure your prospect knows why you’re calling and how you’ll help solve their property problems, you also want to go with the flow of the conversation.
This is where active listening and empathy comes in. Let your prospect speak after you have asked them a question and wait for them to finish before jumping. Make mental or physical notes as you listen, because you’ll often find pain points, desires, and values within their story, which you can use to persuade your prospect to let you solve their issues.
Practice, practice, practice
Your first couple of calls won’t go smoothly – that’s almost a guarantee. You might speed through your greeting too quickly or mess up your prospect’s name, or forget to greet them before getting to the proposal.
Take a deep breath and relax. Cold calling is a numbers game, and it’s also an art that takes dedicated practice and time to master. Set a routine for your pre-call, your scripts, and how to debrief after your call, and you’ll soon find where you need to make adjustments.
Ask people who are more experienced in real estate cold calling for feedback and advice to speed up your learning process.
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In the next section, we’ll go over helpful real estate scripts to keep on hand during your call and ensure you’re not lost for words when they pick up the phone. Use the information you have on the prospect to personalize your call and build rapport.
15 effective cold call scripts for your real estate business
A real estate cold calling script is a prepared text that you use in a cold call to greet your prospect, answer frequently-asked questions, and handle potential objections smoothly. You can use cold calling scripts to minimize guesswork as you work toward converting your prospect into a lead.
Below are go-to cold calling scripts to use at various stages of your call, and for different purposes.
Remember that these don’t have to be followed word-for-word. Instead, it’s best to follow the principles and rhythm behind the script while speaking and using words that you normally would in a professional setting.
1. Using a warm greeting to establish rapport
Simple is best. Within the first 5 seconds, you can let your prospect know who you are, who you work for, and why you’re calling. Including the question at the end of this greeting gives your prospect space to respond and get the conversation going.
Hi! My name is [Your Name]. It’s so good to finally get a hold of you! I’m a real estate expert for [Your Agency Name] and I was just wondering if this is a good time to talk?
2. Greeting – and qualifying – your prospect
This greeting is a bit more involved than the previous one. It encourages a response that opens a conversation and lets you qualify the prospect as soon as possible.
Hi, I’m [Your Name] from [Your Agency Name]. Is this the homeowner?
Wait for their response. If they are the homeowner, respond by using the script below.
Okay, great! The reason for my call is that I have some buyers who are interested in finding homes in your area. Would you consider selling your home if you had a guaranteed buyer lined up?
If the caller is not the homeowner, ask if you could speak to the homeowner or ask for their contact information.
3. Qualifying potential buyers with a shot-in-the-dark greeting
Sometimes you don’t know enough about your prospect to pitch your service before making a call. This cold calling script lets you quickly get to the point if you’re serious about looking for buyers.
Hi, my name is [Your Name] from [Your Agency Name]. Do you have time to chat about upgrading to a new home?
If they respond with ‘no’:
I understand that you’re (busy/not interested right now). If you do find yourself looking for a new home, do you have a real estate agent or agency to call? If not, please don’t hesitate to reach out. I’d be more than happy to assist you. [Share your contact details]
If they respond with ‘yes’: Inquire about the area or type of home they’re interested in buying. Keep your questions as open-ended as possible to build rapport and get a sense of what the prospect most values when choosing property.
4. Reaching out to a FSBO prospect
There are many homeowners who prefer to do the difficult task of selling their home on their own. There are many reasons why a homeowner would go the FSBO route, including previous negative experiences with agencies, not wanting to include a third-party (and the potential fees involved) in their sale, or a sense of pride in their ability to sell.
The important thing is not to dismiss their choice and instead to highlight your services as an agreeable and attractive alternative option.
Hi, my name is [Your Name] with [Your Agency Name]. I’m calling about the home for sale. Are you the property owner?
Listen to their response. If they say ‘yes,’ continue with the script below.
Great! You have a beautiful home – I can see how much effort you put into it. Would you be willing to work with an agent if it means your home would sell faster?
Listen to their response.
I’m asking because I know a few buyers who are looking for homes in your neighborhood. I’d love to introduce you. I bet we can get your home sold in the next [time frame].
Listen to their response. Even if they respond with hesitation, try to schedule a meeting with them using the script below.
Can we meet for 20-30 minutes? I’d love to show you my process so we can sell your home as quickly as possible. You’re not obligated to use me, but I am confident I can get your home sold. Is tonight at 5 p.m. good for you? If not, what’s a good time tomorrow?
5. Reaching out to a FRBO prospect
This script targets prospects that have put their properties up for rent without involving a third party. The goal is to schedule a meeting with this prospect to discuss how you can improve their reach to find ideal tenants or alternatively, sell their property for a good price.
Hi, my name is [Your Name] with [Your Agency Name]. I’m calling about the home for rent. Are you still looking to fill the vacancy?
Listen to their response.
I work with potential buyers and property investors in your neighborhood and I’m wondering what your long-term goals are for the property?
Listen to their response to think of a possible solution for the prospect. Ask details using the script below.
How long has it been listed, and what is the monthly rent?
Listen to their response. Using the information you’ve learned, reflect their problem back to them to open a discussion about solutions.
Okay, it seems you haven’t been able to fill the vacancy for [X weeks] and have taken an income loss of [rent amount by vacancy time]. When did you last have an appraisal on the property? The market has changed dramatically over the last few years. Would you consider selling if the numbers made sense?
Listen to their response. Questions about your credentials and motivations will inevitably come up, which you’ll use to smoothly transition into a conversion using the script below.
I’ve helped lots of property owners get top dollar for their investment properties, and the market is in a great place for selling. If you don’t mind, I’d like to research the property value and retail prices to see if you can increase your rent, or if selling is a better return. Do you have some time this week? I can bring the numbers by and show them to you.
6. Establishing rapport as a fellow neighbor
If you have any leverage to build trust with your prospect, you want to use it as quickly into the call as possible. Use this script– and adjust accordingly– to grab your prospect’s attention as a fellow local.
Hi, [Prospect’s Name], this is [Your Name] from [Your Agency Name]. Just reaching out as I’ve been living in the [Neighborhood/Area Name] for over 20 years and I just love this place. As a new agent at [Your Agency Name] who specializes in the local area, I wanted to know if I could find a suitable buyer for your property in the next 30 days. Would you be open to meeting with me to discuss?
7. Positioning yourself as a local champion
Another trust builder to take advantage of is any recent sales, especially when you sold a property in the same neighborhood or close by to the prospect.
Just getting in touch because I recently sold a property down the street from you at [Recent Sale Address]. It’s a great area with a lot of interest at the moment and the properties are selling for fantastic prices. Out of interest, have you thought about selling your home?
8. Getting to the point
Depending on your clientele or the time of day you’re calling, or perhaps just the volume of calls you’d like to make in a day, it may be worth it to get to the point as quickly as possible.
Hi, am I speaking to [Prospect’s Name]? Well, I’m [Your Name] speaking from [Your Agency Name]. Without taking much of your time, I would like to inform you that the agency has some buyers looking forward to buying properties in your area. Are you looking to sell your home now or shortly?
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This script is for when you want to reach out to a prospect who you met in a non-work setting, such as a mutual friend’s party, fundraiser, or other event. Keep it casual and mention the reason you’re calling as early as possible.
Hi [Prospect’s Name], this is [Your Name]. We met at [Event/Place You Met Them]. So, how have you been?
Listen to their response and use this space to exchange pleasantries and build rapport. Then promptly get to the reason why you’re calling.
I was calling you because, as [Mutual Friend] might have told you, I’m a real estate agent for [Your Agency Name]. I’m just reaching out to family and friends to see where they’re at with their properties and if they’ve thought about upgrading, downsizing, or selling their home. [Prospect’s Name], have you considered a move, considering the market right now?
10. Following up on a previous property appraisal
This specific call isn’t completely cold, but it is a common enough situation in the real estate industry to warrant a mention.
Use this script for when you’ve met the prospect already and done an appraisal of their property, and the prospect has delayed the selling process and has not contacted you since. The goal is to get them back on board and get the ball rolling before they decide to put their property in another agency’s care.
Hi [Prospect’s Name]. It’s [Your Name] from [Your Agency Name]. I just wanted to touch base with you about the appraisal I conducted on your home in [Month of Appraisal]. I’ve been watching the market in your area closely and there’s been quite a lot happening. Has your position on selling the property changed at all?
Listen to their response.
Okay, no problem. Because the market in your area has been so busy, it may be worthwhile updating the initial estimate I gave you. Would this be something you would be interested in?
Listen to their response. Even if they indicate that they’re not interested, it’s still worth it to keep them on the line and let them know what your agency can accomplish for them.
Okay [Prospect’s Name], I completely understand. I’m picking up that you aren’t planning on moving from the neighborhood at the moment, but I think you might be interested in how other properties in the area have sold since I spoke to you in [Month you last spoke].
11. Leaving a message for an unanswered call
It’s best practice to leave a voicemail when your call goes unanswered. So, in the case of an unanswered call, have a quick elevator pitch ready to encourage your prospect to call you back or expect your call again.
Hi, this is [Your Name] with the real estate experts at [Your Agency Name]. I’m calling to introduce myself because I recently expanded my services to your area. If you’ve ever thought about moving to a new neighborhood or upgrading while staying in your area, I have plenty of potential buyers and sellers who I’d love for you to meet. I know you’re away right now, but let’s set up a time to discuss your options when you get back. You can reach me at [Provide your contact information].
12. Keeping commission talks at bay
No set number is going to sound well over the phone. So when your prospect asks about commissions and sale percentages, you want to avoid any hard numbers. Instead, acknowledge their curiosity and try to give a truthful ballpark figure, encouraging them to meet you in person.
[Prospect’s Name], I’m making a note that you don’t want to pay anything more than 3% commission. How’s tomorrow or Tuesday looking to meet up to preview the property?
13. Discussing how you got your prospect’s number
This is not an uncommon question, especially when you’re cold calling. It helps to have a script ready to smoothly move through this objection– and allay your prospect’s worries– without dismissing them or coming across as suspicious.
As a real estate agent, I utilize various resources and databases to identify individuals who may be interested in properties in your area. I assure you that your privacy is important to me, and I’m reaching out today because I believe I can assist you with your real estate needs. Would you like to discuss further?
14. Responding when your prospect is meeting another agent
Even if a prospect is talking to another agency about their property, you still want to position yourself as a good alternative. Use this script to let them know that you’re available should things not turn out well with their current agents.
Thank you for letting me know. I understand the importance of loyalty and honoring your commitments. If, for any reason, things don’t work out with your current arrangement, or if you ever have any questions or need assistance in the future, please don’t hesitate to reach out. I’m here to help whenever you need me. Have a great meeting with your agent!
15. Responding when your prospect wants to sell the home themselves
Your prospect may be interested in selling their property, but insists on listing their home themselves.
Use this script to encourage your prospect to see the benefits of relying on a real estate agency to sell their home instead of doing all the tedious work themselves. As a real estate agent, you’re not only marketing your selling skills, but also the desirable benefits your client experiences as they focus on other time-consuming tasks, such as moving or preparing their new home.
I appreciate you considering all your options. Selling a property on your own can be a challenging task, and I commend your initiative. However, navigating the complexities of real estate marketing requires time, expertise, and resources.
As an experienced real estate professional, I can offer you valuable insights, marketing strategies, and negotiation skills to ensure a smooth and successful sale. I’d be happy to discuss how I can assist you in achieving your goals and maximizing the potential of your property. Would you be open to a conversation about how I can help?
Alternatives to cold calling
While cold calling in real estate is a powerful method for lead generation, you may not have the resources for it. For instance, a smaller or one-person agency might find it difficult to set aside time to sit at the phone while also driving out for appointments and showings.
Whatever your reasons, here are a few alternatives to cold calling. Note that these are solid techniques that you can use in tandem with your cold calling campaigns.
Cold texting
SMS is an effective method for reaching out to prospects without having to talk. It’s also time-efficient and scalable, and gets a fairly high response rate.
Make sure that your leads opt in to receive messages, or you might be in trouble depending on the regulations that govern your territory.
Cold emailing campaigns
Another alternative to cold calling that can take up much less of your time when automated, is a cold emailing campaign. You’ll still be reaching out to cold leads to inquire about their properties, but it will be through email. Include a clear CTA or link so that prospects can respond easily.
Expect that your emails may be ignored or set aside by the recipient frequently. It pays to learn as much as you can about running an effective cold email campaign before you try it as an outreach strategy.
Learn how to warm up leads step by step
In this sample cold outreach campaign, you’ll discover exactly what you need to do to create a coordinated, layered cold outbound strategy. Download it today and start heating up your cold leads!
If your agency participates in the community actively, you’ll have no shortage of prospects to contact. You can generate your warm prospects from a variety of sources, including open houses and showings, industry events and conventions, and from your current client base.
Often satisfied clients will be happy to pass on your information to someone they know who may be interested in buying or selling. The key to making the most of warm networking is to get as involved as possible.
Inbound marketing
Think SEO optimization, social media marketing, PPC ads,… Anything that gets prospects reaching out to you instead of the other way around.
Inbound marketing campaigns require a large upfront investment of time and effort, and you won’t see immediate results, but it can work as a strategy you use alongside a more proactive approach.
Cold calling agencies or freelancers
Finding a third party to do your cold outreach for you is another option for phone-shy agents. You’ll find plenty of experienced outreach experts on job boards such as Upwork or Fiverr. Or you can even contact outbound agencies that specialize in cold calling.
Make sure you explore your options before deciding on the caller or agency you’d like to represent you.
The role of a CRM in your real estate cold calling strategy
Keeping track of your new leads and cold calling prospects is made simpler with a software solution that keeps all your data in one place, easily accessible to all agents involved.
Nutshell is a CRM platform that helps real estate agencies access whatever data they need about a prospect at their fingertips.
You’ll also get access to other effective cold calling tools, such as one-click dialing and the ability to update records with notes and tagging. Nutshell enhances the prospecting process with the features such as:
Simplified contact management: No more squinting at spreadsheets and moving from platform to platform to get the information you need! Keep your prospects, leads, and clients all in one place and updated as you go.
Intuitive sales automation: Got a positive response from a prospect? Or maybe they didn’t have time to talk to you at the moment? No problem! Create automated reminders to follow up on leads, schedule appointments, and send email reminders to prospects.
Streamlined B2B prospecting: Looking to find more potential buyers or sellers in retail property? Or looking to nurture potential B2B partnerships? ProspectorIQ allows you to fill your sales pipeline with contact information– including phone numbers and email– from a reliable database of over 200 million people and companies.
Insightful reporting: Various custom reports allow you to find opportunities to grow, understand where prospects are falling off and develop strategies to plug the leaks. Plus, you can look at individual agent performance to understand who your superstars are, and how to best develop your low-performance players.
Nutshell: The ideal CRM for your real estate business
Ready to up your real estate cold calling game? Keep your prospects neatly in a CRM built for businesses like yours. Try us out free of charge for 14 days – no obligation – and find out how Nutshell makes your real estate business grow. Or contact our team to learn more.
