Is calling leads on the weekends beneficial?

jhamlin's picture
Rank: Senior Chimp | banana points 25

I have been calling My leads on Mondays and Tuesdays and periodically throughout the weekdays for many years. I have been using the T-Max Predictive Dialer that works great by reducing all the ring time and just giving me live people.....but wondering if there might be potential on the weekends for reaching more clients and if anyone has this and any results anyone has had. I am trying to expand my network and looking for new ideas like facebook and what everyone is trying these days.

Private Equity Interview Course

  • 2,447 questions across 203 private equity funds. Crowdsourced from over 500,000 mem.
  • 9 Detailed LBO Modeling Tests and 15+ hours of video solutions.
  • Trusted by over 1,000 aspiring private equity professionals just like you.

Comments (29)

Feb 1, 2019

I don't think people will take to kindly to cold calls on the weekends. My two cents.

Feb 2, 2019

This is a terrible idea

    • 2
Feb 5, 2019

This.

Feb 2, 2019

I've been contemplating this for a year. In fact I want a Jr. Broker to do this. I think it's a great idea. We are in a 24hr business as brokers. It's our job to take the deals to the principles. If the deal makes sense they will be happy to talk to you.

Also, remember this, if you have no customer complaints, you're not doing enough business.

    • 2
Feb 2, 2019
PacNumber:

We are in a 24hr business as brokers. It's our job to take the deals to the principles. If the deal makes sense they will be happy to talk to you.

Agreed. In my experience employees don't want to be contacted because they aren't directly compensated for listening (which is myopic, as they could position themselves to lead the deal if they hear about it first), but principals are always open to evaluating a legit opportunity.

    • 1
Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Feb 2, 2019

Confirm, employee and principal. The employee part of me hates dealing with work on the weekends, I just had a M&M broker call me last Saturday, was pleasantly surprised but I was already looking at the deal

Most Helpful
Feb 2, 2019

Did that deal not exist Friday afternoon? Will it not exist first thing Monday morning?

    • 4
Feb 4, 2019

This is terrible advice.

You may consider yourself "on call" 24 hours a day, but the person you are contacting probably doesn't. More importantly, what the hell do you have to say that can't wait 24 hours until Monday morning? Do you think that this hot new lead you picked up is SO spectacular that the guy you're calling is going to drop everything he's doing to get to the office to underwrite the deal?

The idea that you need to be available on the weekends is the worst kind of self-masturbatory arrogance. People have lives. Principal or employee. Maybe you know that this particular person usually works weekends, but perhaps this is the Saturday his kid has a baseball game. Maybe their parents are sick. Send an email and ask if you can chat, don't just dive right in. It's a real estate deal - in its most literal sense it isn't going anywhere, and waiting until Monday morning almost certainly isn't going to lose you a sale.

    • 4
Feb 4, 2019

Agreed, I come in on the weekends sometimes to work, also work late nights, but very quickly I realized that real estate is a team sport. Just because I work on the weekends or nights, I cannot expect people on the other side of the table to answer calls or emails. That will just annoy and piss off people. So, if I am working on the weekends or nights, I typically work on things that do not need input or answers from other people. I will also often do all my work and prepare 3 or 4 draft emails on the weekends and on monday morning, I will fire them off. Life is too short, people should enjoy the weekends, spend time with parents, family, friends and I really dont want to bother them with stuff that can very well wait until monday morning.

Feb 2, 2019

You can disagree but you don't have to be so pompous about it

If I can make $200k and the client can make $2mil. They're getting a phone call on a Sunday while at church. I don't really care. Made several calls this weekend. One client and I were texting until 11pm last night about our offer that's getting written up today versus Wednesday.

I'd rather not find out if it can wait. I'd rather just "do."

It's been said on this forum more than a few times, nobody has ever said anyone is being too aggressive in CRE brokerage. For the record, I never said I was on call, it said it's a 24hr business. I don't pick up for everybody.

    • 3
Feb 4, 2019

Whatever works for you, my man. If you called me on Sunday night out of the blue with something that can just as easily wait until the next morning, I'd block your number and never do business with you again. Because I'm not an idiot - I know you're sending this around to 15 other people, and I know you don't have an exclusive or you wouldn't be in such a hurry, so Ii'll just ring someone else up in the morning during normal business hours.

And it's great that you say you don't pick up for "just anyone," but by the same token I don't know many, if any, principals who think that the broker cold calling them is in that inner circle.

You can call whenever you want, of course. But the original question was "will it be beneficial to call on weekends". Just glancing at the responses, it seems to me that brokers say yes and development folks say no. Which honestly should tell you as much as the specific responses do. Personally, one of the reasons I love RE is that I like having a life outside the office, and not working 80 hour weeks. If I don't know you well enough to call you first on a Saturday afternoon, you don't know me well enough to hassle me on Saturday for something that can self-evidently wait til Monday.

    • 1
Feb 2, 2019

You make some valid points, but I would just mention for the sake of others reading this that it is myopic to only contact people when there's a deal. Checking in on industry contacts with some consistency is a good chunk of this business. It's generally easier for both parties to catch up for 5 mins on a Saturday afternoon than a Monday afternoon.

Incidentally, I believe Monday gets a bad rap because people don't do the little things over the weekend to set themselves up for the week ahead.

    • 1
Feb 4, 2019

I agree that staying in touch is important. But this comes back to the whole "are you someone I want to spend my free time with?" If you're on friendly terms and you want to call me up and shoot the shit and just subtly remind me you're around, all well and good. That isn't a cold call, though, and it's not "expanding a network" to the OPs point.

Also, apropos of nothing, I hate the phrase "time kills deals". It's the least true saying in the real estate business. Time kills commissions. It's why every buyer who ever lived wants more time for DD, more time before closing, etc. Brokers love to say it because their commission isn't based on risk and is only based on closing as much as possible, as fast as possible. If you've got real equity risk, time is very nice indeed so you can better analyze those risks.

Feb 2, 2019

Sellers want less DD, so if one buyer takes longer than another, they have killed the deal for themselves, no? Assuming the buyer isn't randomly bidding on everything under the sun, losing the deal is generally undesirable for the principal as well as the broker.

Feb 4, 2019
Edifice:

Sellers want less DD, so if one buyer takes longer than another, they have killed the deal for themselves, no? Assuming the buyer isn't randomly bidding on everything under the sun, losing the deal is generally undesirable for the principal as well as the broker.

Yeah, except that is never the way it's meant. That is a business term; more time is more desirable, being outbid on that term might mean losing a deal. The same way being outbid in dollars or hard money down or contingencies might kill a deal. When brokers tell you "time kills all deals" what they mean is that you need to move quickly on putting in/finalizing an offer. Or, in the context that you employed it, that waiting an extra few hours to bring a deal to a buyer from Sunday night to Monday morning means that buyer will lose said deal. Hypothetically that is possible, but practically speaking you almost never see a potential buyer willing to offer better terms losing out on a deal because they waited a few hours too long (unless there is a hard deadline to submit bids, obviously).

Time as a business term can kill deals. Time in the abstract rarely does.

Feb 2, 2019
PacNumber:

One client and I were texting until 11pm last night about our offer that's getting written up today versus Wednesday.

Exactly. Anyone who doesn't know the phrase "time kills all deals" will eventually find out the hard way.

    • 1
Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Feb 2, 2019

Don't call on weekends!

Feb 2, 2019

Everyone is going to say not to do it. You can call on Saturday during late mornings generally I have found. Haven't done it in years but I've found deals this way.

The truth is there is no bad time to call. Not calling is worse. You never know who's going to need your help or when.

    • 2
    • 2
Feb 4, 2019

What Merchant_of_Debt said: better to call than not call and keep it to Saturday mornings or early afternoons. Keep it to under 2 minutes and end it with "I'll send you an email with additional information".

Feb 5, 2019

Dude, just imagine yourself in your potential clients' shoes. Would you really want to be contacted about business (that you are probably not interested in, certainly given that <50% of calls to leads are converted into sales) on a day of relaxation, while you're out at a beach or taking a road trip with your fam?

Feb 2, 2019

It's actually really interesting how divided this thread is, especially given the people on either side. Goes to show how few hard and fast rules there are.

Feb 4, 2019
CRE:

It's actually really interesting how divided this thread is, especially given the people on either side. Goes to show how few hard and fast rules there are.

I think it's amazing. It speaks to a disconnect between what brokers think they should be doing, and what their clients want them to do. The divide on this thread is clearly (assuming people's profiles are accurate) that most brokers are saying yes, call on weekends but keep it brief, while REPE/development/asset management folks are pretty united in saying "wait til Monday" (or email).

Not saying that the folks on this thread are a representative sample, but brokers... maybe this is a wake up call that those Saturday morning cold calls aren't achieving what you want them to, and may very well be having the opposite effect.

Feb 6, 2019

It could also mean some of these brokers have success making calls on the weekend. Investment folks on this site might be saying no, but I'm not sure how many have actually received a call on the weekend and are just saying they wouldn't want it. Although that is definitely a warranted answer, I have a feeling the brokerage community saying to call on the weekends here has actually done it and been successful. Also, this is a super small sample size. Either way, if the contact won't talk to you on a weekend, I just have a slight feeling they won't talk to you on a Monday anyway.

    • 1
Feb 4, 2019

Maybe there has been success, somewhere, in the past. This is all to ignore the main point, though. You have to show me that that successful call on Saturday, would have been unsuccessful on Monday. Otherwise, just wait.

Feb 6, 2019

It's about access to a decision maker. Monday you might get stopped out by an admin or someone else in the office. Saturday no one is there to stop the call.

Feb 2, 2019
pudding:

It's about access to a decision maker. Monday you might get stopped out by an admin or someone else in the office. Saturday no one is there to stop the call.

For the record, your boy isn't going to be sitting at his desk on a Saturday either. If I'm working, it'll be from my couch.

Feb 6, 2019

Cell phones and home phones. Cell phone - definitely higher probability on a Monday. Home phone- nope.

Feb 4, 2019
Feb 6, 2019