How to Build a Big Business Around Telephone Prospecting

Sep 18, 2014 5:35:43 PM

With so much of the today’s industry chatter being centered around technology and the internet lead race, Jeff Glover sat down with Gary Keller to share how and why he chose to build a big business around the one fundamental activity many agents avoid at all costs – cold calls.

"Keller Williams Mega Camp 2014"

 

“People fall into two groups. People you know. And, people you don’t know. Which one is bigger? I thought it made sense to go after the bigger group,” said Glover. And, it’s working. He closed 608 units last year by focusing his team’s efforts on calling FSBOs, Expireds, Just Listeds and Just Solds.

 

 

His approach to prospecting is simple:

- Alternate the calling schedule. If you don’t reach them in the morning, let the afternoon team call them after work.

- Take an occasional mind-shift. Switch up the kinds of calls you’re making every two hours or so. Glover’s prospecting team is making calls every day from 8 am to 8 pm.

- Role play twice a day. This keeps everyone prepared to handle any objections that may come their way, always moving toward setting the appointment.

It’s all about the scripts.

The most important piece is a focused commitment on making the calls, hiring the team that’s motivated to make the calls, and mastering the script. “First you memorize it, then you own it, and eventually it’s not a script anymore. It’s just a part of your natural language.” For Glover’s team, mastering a script means writing down it every day for 30 days, consistent role plays and chanting them aloud.

Glover shared some of the insights he’s learned through thousands of dials, and the strategies he’s developed around calling each of these sellers.

FSBOs

- Most wait 3-5 weeks before they end up listing with an agent. Contact them first and stay in touch.

- Call them the FIRST day they come on the market. Tell them you’re in the area and would like to drop by to check out the house for potential buyers. Let them know you’ll be sharing what strategies you’re using to get homes in your area sold fast, and for top dollar.

- Call on Monday morning because they’ve most likely just hosted an open house over the weekend to no success.

Expireds

- Focus the conversation on their future plans and what they’ll accomplish when they get there. “If you had sold your house, where would you have been headed?”

- The goal of an expired call should be to set an appointment within 24 to 48 hours.

- Most homeowners with an expired listing aren’t as worried about the pricing conversation as the agent is. “If our last agent had simply told us to reduce the price, we would have done it.”

- Ask “What are your plans for hiring an agent if you don’t sell the home on your own?"

Just Listed / Just Solds

- Sold properties create more listings. It’s contagious. Neighbors find out the sale price of the home down the street and they’re curious about whether this might be a good time to do the same.

- Make calls around sold listings in the area, even if they weren’t yours (this doesn’t mean take credit for having sold it!)

It’s clear why so many agents are reluctant to pick up the phone. You’re going to make a lot of calls. You’re going to face a lot of rejection. But, each call is an opportunity to fail forward. And, every successful person is simply someone who was willing to fail more than the other guy who stopped the first time.

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