Cold Calling Experiences
Tomorrow I will be doing my first round of cold calls to people in foreclosure. There are very few that have phone#'s that are listed. I have to options for my opening and I know that this can make or break me. I have already sent out a postcard mailing.
1) Hi, my name is Ryan from Helping Hand Investments, I am looking to buy some houses in your area and I'm just calling to some people in your neighborhood to see if they would be willing to sell. Do you have a home you would be interested in selling if I could pay cash and close quickly? (nice and casual, non threatening.)
OR
2)Hi, my name is Ryan I run a company here in town called Helping Hand Investments. We buy houses from people whose house has become a problem. I was recently at the courthouse and noticed a pending problem filed against your house and I was just calling to see if you might be interested in discussing your options and any possible solutions that we may be able to provide for you?
The first is non-threatening. I figure with this strategy, I will call them back in 2 weeks and mention that I noticed in the legal notices that there was a pending problem and lead into script 2. I mention my name and company again and if they mention that we talked, I will tell them we probably did, that I had called several people in their area.
I had a lot of time to think about this this evening, but I would like some advice from the pros. Ron Legrand says do #1 I would like some first hand experience.
Thank you everyone,
Ryan
Ryan,
I am new to this also and posted a question about "Cold Calling" in the foreclosure forum a few days ago titled "The Art of Cold Calling" and there was some chat first about the Do Not Call list. I signed up to access the DNC list but have not used it. Not one person I have called has even mentioned the DNC. I have made about 100 cold calls in the last 3 days and I have found that the last post in my thread from Bruce was dead on the money.
Don't try and use a script!!
Everyone is different and I can see no pattern of developing a script to handle everyone. I have had people get mad and hang up on me or curse me out for calling about their house, and I have had people talk my ear off for 20 minutes about all the trouble they had with the lender before they finally got it all cleared up. I would say mostly I had to leave a lot of messages and even those I couldn't put a script to. You will quickly learn to get a sense for people as soon as they answer the phone, and deal accordingly. I was very very nervous about my first call because I had never done it but after all the calls I have made, it's nothing to pick up the phone, and call just about anyone and talk to them about there situation.
Anyway the best advice I could give you is to just be yourself and don't use a script as you will most likely come off like a telemarketer and that's not what your after. You want to build that rapport with the person on the phone and that can't be done with a script.
One last word of advice...After about your first 50 calls or so and you can't seem to find anyone even remotely interested in your services, DON'T GIVE UP!! The calls get easier as you go and you will eventually find a few that want to deal. Remember a lot of these people are on the defense from the start so it's hard for them to open up.
Hope my ramblings have helped you a little and good luck to you.
Andrew
Hey Ryan,
Wanna be a hero instead of a run of the mill type investor?
Knock on their door and ask them if you can help them SAVE their home!!
I know that sounds soooo unconventional but hey, what the heck - it works. Get an LOA from the homeowner and contact the lender to see what remedies they can come up with.
I collect a nice fee for helping these homeowners out . Sometimes though, they really do have to liquidate THEN I make my offer to purchase.
Talk about a soft touch.
C- :-o
Cpifer,
You have piqued my interest. I would much rather help them save their home. That would be much more rewarding. What is an LOA (Lease Option Agreement? That doesn't sound right) is that authorization to release information, or some variation thereof? I want, rather need to know more about this. How do you set the fee? I don't want to flood you with questions. So I will stop for now.
Please feel free to email me, it should be in my profile.
Thank You
Ryan
I agree...knock on the door. The letters may get lost in the mail and with other letters...have a card and a sheet maybe with the letter attached...give it a few knocks..they will probably be hesitant...be nice have a smile and give them your card. They will probably call back eventually. Dont be a salesman though on this.
Cold calling sounds worse than it is. Most people are not going to shoot you for knocking. FEAR keeps many people from achieving their dreams in life. In the car business I have grown bold if you do not work hard and overcome fears in my business you will not last long. I hope my competition is calling and doing mailers when I am closing deals!!!!!