The Myth of Cold Calling
January 10, 2007 by Don Hobbs
In my blog last week, I talked about open houses and other ways of past business practices that may not be the best thing for your real estate future. Right after that blog was posted I found myself in the midst of "Exhibit A." I was in Texas and sat in on a large sales meeting of agents raring to kick off 2007.
If there was ever a case in point that illustrated my beliefs, this was it. In my writing last week, I argued that open houses, door-knocking and other old-school methods were the proverbial kryptonite to anyone serious about success. I walked right into a prime example of this in action.
I could not believe it. A broker was hammering attendees about the miracle of cold calling.
"Get on that phone," he said. "Doing something is better than doing nothing."
That's great if you're looking to get by or trolling for the next deal, but it doesn't help at all in the long-term process of building systems and marketing strategies that bring clients to you consistently.
Every one of us gets into survival mode, so I'm not surprised that these "tried and true" practices are still trotted out at office meetings. The problem in cold calling is that once you hang up, whether or not the call turns into an appointment, you're right back into the merry-go-round thinking of "Now I need. . ." Another round of calling? Door-knocking? More rejection? That application I threw away for air conditioning repair school?
Unfortunately, I find that people who cold call as a primary prospecting tool wake up five or 10 years later still not owning their business. They have to keep making that next call, except now they're worn out and die a slow, painful death in real estate.
As I've said before, it's not that cold calling doesn't work. It can. And the broker was partially right when he said it's better to take action than watch the moss grow around you.
The point is this ' doing the right things that leverage your time and allow you to nurture a business is the key. It's not about what you do, it's about what systems you put into place that can do for you.
I'll keep this thread going in my next writings. Let me know your thoughts and experiences.
If there was ever a case in point that illustrated my beliefs, this was it. In my writing last week, I argued that open houses, door-knocking and other old-school methods were the proverbial kryptonite to anyone serious about success. I walked right into a prime example of this in action.
I could not believe it. A broker was hammering attendees about the miracle of cold calling.
"Get on that phone," he said. "Doing something is better than doing nothing."
That's great if you're looking to get by or trolling for the next deal, but it doesn't help at all in the long-term process of building systems and marketing strategies that bring clients to you consistently.
Every one of us gets into survival mode, so I'm not surprised that these "tried and true" practices are still trotted out at office meetings. The problem in cold calling is that once you hang up, whether or not the call turns into an appointment, you're right back into the merry-go-round thinking of "Now I need. . ." Another round of calling? Door-knocking? More rejection? That application I threw away for air conditioning repair school?
Unfortunately, I find that people who cold call as a primary prospecting tool wake up five or 10 years later still not owning their business. They have to keep making that next call, except now they're worn out and die a slow, painful death in real estate.
As I've said before, it's not that cold calling doesn't work. It can. And the broker was partially right when he said it's better to take action than watch the moss grow around you.
The point is this ' doing the right things that leverage your time and allow you to nurture a business is the key. It's not about what you do, it's about what systems you put into place that can do for you.
I'll keep this thread going in my next writings. Let me know your thoughts and experiences.
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