Day #43 of 100 Days of Prospecting
So today I finally wrapped up calling through all of Royal Oak. Obviously I didn’t SPEAK with every person who had a phone in Royal Oak but I did finish my first pass through all the raw lists I built for Royal Oak. I feel extremely relieved.
That was a bad spat there.
After making more than 6,000 dials and 825 contacts, I got a grand total of ZERO leads in Royal Oak. Even now it seems a bit unbelievable to me.
Again today I had two people tell me that I was the “fifth” Realtor to call them and ask they were thinking of selling their house. Now because I wanted some background on what the heck was going on I ASKED them when they had gotten these other calls. After all, when someone says “Your the fifth agent to call me” that could mean I was the fifth agent to call over the course of the previous year….and that could eventfully be just me making all five of those calls myself.
So I asked and one lady said that she’d gotten those five calls in the previous week but the other one said that I was the fifth caller of the DAY.
Cold calling is not popular. More people are doing it under the guise of “circle prospecting” but it’s still not popular like calling expireds or FSBOs. So who were these people calling? I put my feelers out and I think that a fellow agent probably hit the nail on the head.
There is a Keller Williams office in Royal Oak. And throughout the year Keller Williams does a prospecting intensive known as BOLD. It’s almost a sure bet that BOLD has been rolling at the same time that I happened to decide to call in Royal Oak.
Switched Cities, Different Results, and List Rest
So I polished off the last of the Royal Oak lists and then started calling in a different town. Troy. First day calling there. BOOM. Got a lead.
Here’s what you need to get from this….
Your Lists Need to Rest
If I decided to call through my Royal Oak raw lists a second time TODAY…I would not speak with any of the same people I’ve spoken with over the course of the last week. Because I use Prime Lists. Anyone left in the RAW lists will be people who didn’t answer the first time I called.
But that doesn’t mean OTHER agent have not called them.
People don’t know the difference between one agent and another when they get a cold call from one of us. We’re all the same agent to them. So if you call last week and I call this week they say to me “Didn’t you just call me last week?”
The individual people need to be allowed to “rest” for about 90 days between cold calls. If 10 agents are doing hard core cold calling in the same area though, there are going to be problems.
If a bunch of agents are all calling in a dedicated fashion in the same area, then two things will happen:
The first is that all of the available leads will be quickly rooted out of the area. So it will feel like slim pickins when you DO call that area. Because the leads have already been picked over.
The second thing though (and this is far worse) is that the people will become hardened. If you’re getting a call from an agent every 90 days asking if you’re selling your house…well then enough time has passed, your situation might have changed, and you say yes. If you get a call from “some agent” every single week asking if you’re thinking of selling…all of a sudden you start hardening up. Once hardened you are highly likely to start saying “No” to ALL the agents when they call. So I call just every 90 days but the results I get are the same as if I had called the same people every week.
The result of this situation is that instead of one lead for every 100 contacts you might end up with 1 every 200 or every 300 contacts. I do not mind working the phone but I will admit that if I had to make 300 contacts in order to get a lead, I would immediately switch the method in which I source my leads. That just too much work for too little juice. Your time could definitely be better spend elsewhere.
Time Will Tell
I have to call through Troy, Rochester, Rochester Hills, Bloomfield, Beverly Hills, and Clawson before my entire new brokerage area is done getting a first pass through the raw lists and will have the opportunity to get back to Royal Oak. My guess is that when I do things will be better. KW doesn’t hold Bold every month and I think I’ll call their office and see if they have Bold going on so I don’t call if they do. It just makes sense to call a different area is 15 agents are all calling the same list for 3 weeks in a row.