Elite Real Estate Prospecting

The Truth About Cold Calling and Follow Up


Day #40

Day #40


Posted By on Feb 6, 2016

Day #40 of 100 Days of Prospecting

You know what sucks?  Tripping up.  You may or may not have noticed, but I tripped up this week.  TWICE.

I didn’t get any prospecting calls in this past Sunday.  Not even follow up calls.  Then I allowed that to happen again yesterday.  There’s a mix of emotions there.

When you start missing prospecting days – and you actually track it – you start feeling a bit anxious.  At least I do.  Your weekly numbers go WAY down.  Skipping a prospecting day cuts your overall contacts for the week way WAY down.
 

Changed Brokers

 
Part of the reason why things were off this week was because I decided to change brokers.  From one RE/MAX office to a different one.  The new office is in an area that I’m going to start doing some hardcore farming.  That in addition to the phone work I’m doing already.  The farm is Birmingham Michigan which happens to be the town with the highest amount of equity per square mile of any area in the state.

Everyone wants to do business there and it’s going to take more than just cold calling to crack the code on that one, which is why I’m going to be doing real, relationship based farming in the afternoons after cold calling is done.  As long as I don’t have an appointment that is.  I’m looking to maximize my productivity during the hours I have available.

So broker change over is a bit of a pain.  Even if you don’t have a bunch of listings.  I can’t imagine what it would be like if you DID have a bunch of listings honestly.
 

The Numbers

 
I started out calling on one dialer today because I’ve been using my wife’s cell phone for her other line.  I’ve been meaning to get a landline for Mojo #2 but have just been too busy to make it happen.  So called on one dialer and then switched to two once wifey got home.  It ended up taking me until ten to 8:00 this evening to get the 200 contacts in.  Crazy.

So again, I’m calling all raw lists that I’ve never called before these days.  Contact rate is terrible and lead rate is even worse.  I only have about two more day’s worth of numbers left to all in Royal Oak before I have to either move on to a different town or I have to start calling through the same raw lists a second time.   So tomorrow (Sunday) I’ll be importing numbers for Clawson and Troy so that I have that set and ready to go when the numbers for Royal Oak run out.

I’m hoping that changing towns will improve the number of leads I get.  Royal Oak seems to be overwhelmingly populated with old people who are not lying when they say that they’re going to die in their home.  Plymouth is rather like this too, but not to the same degree as I’m seeing here in Royal Oak.  What a nightmare.

It can’t go on forever though.  You call enough people and you’re going to connect with SOMEONE who is going to be moving this year and isn’t already connected to a different agent.

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Day #39

Day #39


Posted By on Feb 4, 2016

Day #39 of 100 Days of Prospecting

Yes, yes, yes.  I know.  Contacts are down.  A LOT.  But I should have my time-dominating project done by the end of the week and will back making contacts full strength by Monday.

Here’s the current (sad) numbers though:

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Day #38

Day #38


Posted By on Feb 3, 2016

Day #38 of 100 Days of Prospecting

Another light calling day today.  Again, it has to do with me trying to figure out if I’m going to switch brokers.  In fact, not just different brokers…but a completely different MARKET.

I did jump back on the phone and made more calls than yesterday, but it wasn’t really “in the zone” and I look forward to getting back in the zone tomorrow morning when I kick off my calling session at 8am.

Again though, the area I’m calling through yielded up zero leads.  Which is frustrating.
 

The Numbers

 
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Day #37

Day #37


Posted By on Feb 2, 2016

Day #37 of 100 Days of Prospecting

Super short post today.  Super short calling session today.  Right now I’m exploring the idea of changing brokers before my fiscal year rolls over and interviews and other stuff is taking more time than I want it to.  Sure, I could be like, “I have to do all that AROUND prospecting!” but that’s not really how it works.

There’s a deadline on this stuff which means I can’t kick the can down the road indefinitely so that I can post a certain number of contacts here.  I’m pretty confident that I’m making a LOT more contacts than 99.9% of all agents out there so I’m not going to get all twisted in knots if I have to prioritize something else every now and then.
 

The Numbers

 
So I’m calling only raw lists now in Royal Oak.  New town that I’ve not called through before.  I’m a bit frustrated at the lead rate.  I’m also amazed at how many really REALLY old people I get in touch with.  It’s the same thing in Plymouth and here’s something I’ve found…

Certain cities like Plymouth (and apparently Royal Oak) have old people that are determined to die in their home.  They are NOT just saying that.  These people are from a generation that collectively adopted the idea that they are NOT moving south to warmer climates (Florida) and they are NOT going to move to an assisted living facility.  They’ll sit all alone in “their own home” and rot until they die.  This is actually PART of the reason why prices are going up at crazy rates in these areas.  Schools are great and families want to move in but old people refuse to move out.  This pinches supply and the increased demand pushed up prices for the homes that ARE available.

Now that whole thing is great for home values but it’s not so great for cold calling.  I’m rather shocked at how hard it is to squeeze a lead out of this area.  Kinda frustrating really.

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Day #36

Day #36


Posted By on Feb 1, 2016

Day #36 of 100 Days of Prospecting

It’s the kickoff of the new month and that means that agents are prospecting like mad right now.  Becuase – you know – all the expireds show up on the 1st of the month.

If you look at the monthly Mojo contest you’ll see that there’s a lot of activity today.  One of my two dialers chewed through 795 dials and I’m the low man on the totem pole today.  So people are calling.  We’ll see if they keep calling over the course of the entire month.

Anther item of note is that I’m one of three people currently entered into the contest who is using two dialers.  So that whole thing is catching on a bit.  We’ll see how many people jump on the Twin Turbo Best Mode bandwagon in the coming months.
 

The Numbers

 
I made a full 200 contacts today but the contact rate is WAY down.  I’m back to calling raw lists in towns I’ve recently imported.  I’m kinda surprised that it’s so low.  It’s just really crazy to me that I’m seeing contact rates under 15%.  Maybe that’s the new normal or something.  Low yield today too.

Only one not-so-good lead that I’ll probably end up referring out.  One thing you can count on though….when you have low lead days like today, you’ll have days coming up that will give up two or three leads in one day.  You just gotta keep calling.

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Day #35

Day #35


Posted By on Jan 30, 2016

Day #35 of 100 Days of Prospecting

I only ran the one dialer today.  Reason?  Because I was importing new lists for new areas.  This takes longer than you’d think it would.  I mean, we’re calling the entire city, so just draw a circle around the whole thing on the map and import the entire thing at once, right?

Wrong.

Whether you use Cole or Mojo Lead Store data they only let you import so many people at one time.  So if you want to do something common sense like, say, chop a city into four pieces and create one list for each quadrant…you can’t do that.  You have to import smaller pieces and then combine them into a single list.  That’s fun.  I guess I could just have my assistant do that.  Oh yeah…I don’t have an assistant.

Anyway, I imported a bunch of contacts from Royal Oak then started CALLING Royal Oak while importing the rest of the city.  I can do stuff like that all at the same time when running one Mojo dialer.  I can NOT do stuff like that while running TWO Mojo dialers.  So just one Mojo dialer today.
 

The Numbers

 
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Day #34

Day #34


Posted By on Jan 29, 2016

Day #34 of 100 Days of Prospecting

It’s late.  I’m still writing this.  But I’m not pontificating at all.

Numbers were down.  Mojo was acting up again today.  Take a look at this:

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You see how the report says “Line Error”??  That means that Mojo was ghosting calls.  Your headset beeps so you know someone is suppose to be on the other end of the line but….nothing.  That always happens now and then…but when it happens over and over – you know something is up.

I don’t call when it does this anymore.  Back in the day it was clicking through them like a machine gun.  Not even dialing.  You’d just see it flashing through numbers faster than you could even read the names.  Click-click-click-click-click-click.

So once I got my second lead for the day…I wrapped it up.
 

The Numbers

 
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Day #33

Day #33


Posted By on Jan 28, 2016

Day #33 of 100 Days of Prospecting

So today was dominated with a closing.  It was a long time a-commin’ too.  As you can see from the image below, this seller a year and a half ago in July of 2014.  You can see all the follow up that I did.  Listing contract was signed a year later in July of 2015.  Got it under contract and the deal died.  Died after the buyer green-lighted the inspection, after the appraisal came in fine, and after she got the clear to close.  Just walked away on closing day at the tail end of September.

Can you say nightmare?

hanford-contact-logThis particular seller was so upset by that whole thing that it took me a full month to get her back in the saddle and bringing buyers through to look at the house.  When it DID go under contract, she didn’t trust the buyers because of what happened previously and skeptically maintained the belief that the deal would die again all the way until the title company handed her the check at closing.  Only then did she believe the deal was going to happen.  I’m not just saying that either.  That’s what she told me.

Anyway, you can see that it took over 26 follow up touches from the initial contact to the point where the listing was signed.  This proves what I keep saying over and over here.

ALL the money is in the follow up.

Not some of it.  ALL of it.  It’s so rare to find someone ready to go when making a front end cold call through a neighborhood that you should never believe that it’s ever going to happen.  When it DOES happen, you should look at it as if you’d just won the lottery and not expect it to happen ever again.  Maintain this view and you’ll give follow up the proper focus it deserves and you’ll squeeze all the money you can out of the leads you get from your cold calls.
 

The Numbers

 
The entire days was dominated with this closing, but I did make the MOST important calls.  The follow up calls.  One previous lead has no longer decided to sell so he goes back into standard calling rotation.  The others didn’t answer.  There are about 15 follow up calls on the docket for tomorrow and I’m going to make 200 front-end cold call contacts.

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