Saturday, June 29, 2013

Confidence in Cold Call Prospecting - Commercial Real Estate Broker Tips

Develop confidence in cold call prospecting.

In commercial real estate brokerage today, the cold calling process can be quite a challenge for many.  That being said, if you want plenty of listings, quality clients, and greater commissions, you will have to develop a cold calling process system that works for you at a personal level.  That is the fastest way to grow your market share, brokerage and agency business.

It should be recognized that cold call prospecting is a particular skill that requires practice and personal development.  You may be the best agent or broker in your office, however if you cannot attract the right clients and prospects to you, then your commissions and listings will be only average when it comes to market share.

Some brokers and agents rely on the profile of the office and the business brand to bring clients and prospects to them.  That being said, it is the slow way to grow your market share and is certainly at the bottom end of the scale when it comes to personal development and earning more commissions.  
Some agents stay in the market for many years, but to do that they require quality listings and ongoing commissions.  The proactive process of prospecting will help you establish better business outcomes.  That is the faster way to dominate your market.

The way to improve this market share process is to develop a degree of confidence and focus.  That requires a personal process and a definite discipline.  Every day the prospecting that you do should be refined and improved through personal development and practice.

Here are some tips to help you develop the confidence in this networking and prospecting process:

  1. Reward yourself for the results that you achieve.  Make it a target to call at least 20 new people every day.  From those calls you should get approximately two meetings.  Over time those new meetings will evolve into listing and client opportunities.  Your meeting targets can be a benchmark to aim for.
  2. When you make the calls, stand up behind your desk and with a telephone in your hand.  You will find that the ‘standing process’ helps your verbal intelligence and conversational ability.  It also helps with tonality when it comes to your voice and the conversation.
  3. Track the number of calls that you make every day and the meetings that you create as a result.  Over a period of days and weeks, you should see the ratios improve between calls, meetings, and listings.
  4. To boost your conversation flexibility and confidence, read a book aloud every morning when you first arise.  You can do that for approximately 20 minutes.  That process will help you with the telephone call conversations that you will be making later that day.  The most successful agents are those that practice their dialogue and their verbal flexibility.

As part of building this model, only associate with agents and brokers that have reasonable prospecting success and confidence in the process.  You can learn so much from associating with the right people that know how to build market share and listing opportunity.  Put prospecting at the centre of your business activity and make more cold calls every day.

You can get more prospecting and cold calling tips in our Newsletter right here.