Ready to give a winning pitch over the phone? Cold calling commercial real estate clients just got easier!

For all the talk of cold calling going down the tubes, it’s still a viable sales strategy, particularly in commercial real estate. Like any other industry, cold calling commercial real estate clients is a numbers game – it all comes down to how many you call, and how consistent you are.

That said, there are strategies that brokers and agents can use to make cold calling sessions easier and more effective. Nobody should step out into a cold call without a plan! Otherwise, you’ll end up with a lot of frustrated business owners and developers on the other end of the line.

cold calling commercial real estate clients

10 Steps to a winning strategy for cold calling commercial real estate clients

1. Find a script that fits your style, then refine it with experience

Why make cold calling harder than it needs to be? Developing a script will keep your conversations focused, relevant and informative. Plus, you’ll have built-in responses for common objections, so you won’t have to think about what to say.

2. Give your listeners a reason to listen (always be relevant!)

The worst mistake brokers and agents make: giving a pitch that isn’t relevant to the prospect. Would you want to listen to a pitch about something you don’t care about, by someone you don’t know?

Of course not. It’s common sense, and yet many brokers make the mistake of not consciously thinking about what’s important to their prospect.

Do the research. Ask yourself, “what would make this person WANT to start a conversation?”

If you can’t deliver relevance, you won’t close a deal.

3. Aim to learn about your prospect first, then close at the meeting

Cold calling is not a “direct response” tactic. Never seek to “close” on the first try. You’ll only end up sounding desperate over the phone.

Instead, make it your mission to start a conversation. That’s it.

Learn about your prospect’s current situation. Try to uncover his pain points, anxieties, desired outcomes and business goals. That’s where opportunities for selling appear.

  • Are they happy with their current office space?
  • Are they having trouble filling commercial space in their buildings?
  • Would they be able to hit their business goals with a more spacious (or smaller) workspace?

4. Don’t spend more than three minutes on the phone

Cold calling commercial real estate clients shouldn’t drag on. If you’ve found an opportunity, great! Make it a point to carry on the conversation in-person. Your prospects are busy people. And, by the way, they expect YOU to be busy – not spending all day on the phone.

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Professionals work fast in the sales pipeline. Cold calls should open the doors to a meeting or a further discussion. Don’t waste anyone’s time or talk more than you need to.

5. Master the art of persuasive voicemails (get a callback!)

Let’s be realistic for a second. Cold calling commercial real estate clients won’t always end in a conversation. Many times you’ll reach a voicemail box. So what’s your plan now? If you don’t have one, then you’re missing opportunities.

Get an additional script for your voicemails. Take them seriously! Give your prospect a reason to call you back. Learn how to be persuasive and confident in every voice message you leave.

6. Use tools that give you a competitive advantage

An aggressive and successful cold calling strategy calls for actionable tools. Not excel spreadsheets. Not post-it notes. Real tools that help you organize and execute a campaign like a professional.

If cold calling commercial real estate clients is a weekly goal for your business, then CallLogic could be the tool for you. It’s a CRM specifically designed for outbound phone sales! And it keeps all of your tools – scripts, auto dialers, call lists, emails, recorded messages, and more – all in one place.

7. Be aggressive with developers (they want you to fill those spots!)

Cold calling commercial real estate developers require a little more “oomph!” from brokers. Why? Because if you’re asking to fill spots in their commercial spaces, they want to see you’re an aggressive, persuasive salesperson who will go to battle for new tenants.

So, don’t be afraid to show developers what you’re made of. They’ll respect you more if you ask for their business (or EXPECT them to work with you!)

8. Call when the gatekeepers aren’t around to intercept you

Timing is an essential element for cold calls. You want to speak with the decision-maker, right? So call when the secretaries aren’t around to block your way.

There is no “golden rule” for timing, but you may find more luck by using these simple guidelines:

  • Wednesdays and Thursdays are best for cold calling prospects
  • Tuesdays are usually the least effective
  • Calling between 8:00 – 9:00 am will most likely put you in touch with a decision-maker
  • You can also call during lunch, ten minutes before each hour, or after 3:00 pm

9. Recognize opportunities when they appear in conversation

You have to develop an ear for subtle opportunities. It’s those small moments during a phone call that signal a promising conversation ahead. Sometimes, even when your prospect says “no thanks,” there’s room in there to squeeze out a small edge.

  • Listen to the tone of his or her voice. Are they curious? In a rush?
  • Pay attention to the questions they ask. Are they trying to validate you, build trust or find out more info?
  • Pay attention to how they answer questions. Some prospects withhold information only because you haven’t yet proven yourself.

10. Ask questions that aren’t obviously “scrubbing” your prospect

Remember: no one likes to be sold, but everyone likes to buy.

Do you sound like you’re “selling” or like you’re trying to be helpful? The difference is crucial over the phone, especially when you’re cold calling commercial real estate clients for the first time.

Don’t ask questions that clearly point toward a sale.

  • Are you happy with your current office space? Eh.
  • If I could offer ________, would you consider a new commercial space? Ugh.
  • Something fascinating just came across my desk! ….are you joking?

Be genuine. Aim to learn about your prospect’s current needs. Leave the sales-y pitches at the door.

If you’re serious about phone sales and want to triple the number of sales calls you make in an hour, give Call Logic a try. Sign up for our free trial now!