I'm curious to hear from current and former commercial real estate brokers on their typical best practice cold calling techniques.
1) How many calls a day do you aim for?
2) Typical time of day you cold call?
3) What's your standard elevator pitch?
4) Do you recommend leaving voicemails?
5) Do you utilize cold emails when you can? Or are you a traditional dial-for-dollars cold calls by phone only?
6) Do you utilize a CRM database to organize your contacts? If so, what do you use?
7) What's your best practice for creating your call lists?
I'd also be curious to hear from those on the receiving end of a broker's cold call. What's most effective to get your attention and potential future business? And conversely, what drives you batshit crazy about a broker's cold call to you?
Don't over think this guys with regard to script. In the last two years I've had to start cold calling to generate new clients. It's pretty simple as far as the intro. For lenders, and I know a two year loan broker that grossed 350k in fees this year soliciting NNN owners that does the same. I don't say Mr. or Mrs. I say "John?" He replies "Yes" I then roll right into it. "My name is X and I'm calling to put a new loan on 1234 Main St., that loan is 9yrs old and looks like it's rolling or ballooning" then wait...
If that one doesn't need a new loan I roll into my next bit. "Tell me about your other loans or properties that you might make a move on in the next 6mo, here at my brokerage we sell and finance buildings" You have to ask for the business early on guys. You don't really have to get into who your brokerage is or anything like that. Nobody has ever cared that I don't work for CB. If the client asks then sell your services or brokerage. But for now it's about benefit to the client that you bring.
I do have a data base. It's pretty crude at the moment. In San Diego and Orange County there is a mom and pop company that has been selling apartment and commercial owners directories for years. 90% of the numbers are good. The other 10% don't exist or are management numbers. Yes, the institutional clients will be the hardest to get to.