Thread by @paytonjkelly

THREAD: The Best Way to Get Started in Cold Calling for Commercial Real Estate.

#ColdCalls #CRE #REtwit

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The best possible advice that I could give to a broker starting out is to get on the phone as much as possible. The more time you spend dialing has a direct correlation with the amount of money you are able to make. Here is how I would recommend that you get started.

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First, you are going to need a way to access phone numbers. The best way to do this is through Costar and you will likely want to join a brokerage that provides these tools for you. Find your asset class and then find the 50 owners who own the most of your asset class.

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Call these owners, if they have 3+ properties they are usually buyers. Tell them you are young/hungry and will find them off-market deals. Ask them what their buy needs are for 2023 and then keep a list of what each is looking to buy.

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Out of these 50 owners, you should be able to reach and get buy needs for 5-10 of the owners. If you are unable, keep going through the list or expand outside of your immediate market.

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Now that you have qualified buyers, you have all the ammunition you need to call every property in the market that fits their buy needs. Keep in mind, this is not an overnight process. On average, you will likely need +20 touch points to convert to a commission.

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This is how I started out cold calling and at minimum will grow your network, sharpen your tools, and often will result in $$$ if consistent and done correctly.

Would love to know if you do anything to improve your process.

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