Procrastinating my research paper so am posting questions on here... Just curious, what is considered the substantial amount of cold calls expected to make daily to start actually seeing things come together. Over the summer I averaged 75-100 calls daily (was working in NYC IS brokerage) and by the end achieved only one in person meeting (owner decided to hold off due to covid uncertainty). So as a person new to the business, what is the typical amount I should try to reach per day? Some say they do 250-300 daily but not sure if that's true. Obviously as you get older a lot of leads come from referrals. What are your thoughts?
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I'm in IS as a broker despite what my title says. In NYC and have heard M&M brokers are shooting for 300-400/week. Their firm is on the high end for call. Also on meetings not so much now, goal was 2-3 a week from calls pre covid. Where did you intern?
Interned at a boutique shop... ERG. Not a whole lot of deal flow nor any substantial training am not going there after graduation was good though they were able to have me in light of the pandemic used it for some experience and put on the resume
75-100 calls per day should be more than enough....that's quite a lot. I'd focus in on how many people are you actually talking to a day. Need to try to figure out if you're calling the wrong people, or saying the wrong things. Goal should be for calls to result in 2-3 meetings per week, which should result in sustainable business.
Thanks for the input and 2-3 meetings. Yeah made 75 dials which is different so usually got in touch with about half of that then.
50-60 a day should result in a meeting or follow up every week
Good to know, things were different in the pandemic everyone was waiting and seeing (at least in ny)
Is cold calling this much common for the bigger IS teams in CB or JLL?
It depends. If you're on a middle market team, regardless of the firm you will most likely be doing cold calling. If you're working on an institutional team you will be a salaried analyst and the job is more akin to IB putting together memos, powerpoint, models etc while the senior guys are the ones sourcing all the deals. I work at a CBRE/C&W/JLL team on the institutional side for reference. Most of the guys on the middle market teams are commission based and are "brokers" from day one.
Good to know. Forgot to add, I am focusing on middle market IS. I ideally want to land a role in CW/JLL/CB because of their reputation and the offered base salary as an associate which would be super helpful starting out. Have heard from anyone on the middle market side of your firm what it's like day to day as an entry level broker? Want to be prepared and have better chances getting into those great firms
There was an interesting thread here about two years ago where a guy from a Southern California M&M (not sure if I'm remembering correctly) office broke down their goals for cold calling. Then, as mysteriously as he had arrived, he disappeared.
I'll see if I can find it later and post, but worth looking for if you're able.
Thank you, I will try to find it too! M&M is heavy on cold calling so bet they have good insight
Talk to 10-15 people a day. Get 2-3 meetings a week. Counting calls doesn’t exactly quantify quality.
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