Cold calling is a waste of time

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Originally Posted by NeverColdCall

That's exactly my point: Cold calling is only one avenue, and therefore is a marketing mistake.

My point is that "limiting yourself" to only one avenue is a marketing mistake. There is a difference.

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Originally Posted by NeverColdCall

Self-marketing encompasses dozens of potential strategies, which is exactly why it increases sales exponentially,...

Utilizing multiple lead generation strategies is par for the course.

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Originally Posted by NeverColdCall

...unlike cold calling (or any other single strategy) which is strictly linear and therefore inefficient.

Are you of the belief that because a strategy is strictly linear that it is inefficient?

Frank you wrote that cold calling simply takes too much time. This isn't always the case for everyone. Check out High Probability Prospecting by Jacques Werth.

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"HPS Stat: You can zero in on a High Probability Prospect in an average of 35 seconds!"

You brought up "limiting yourself to cold calling". I agree with SC's remarks on that topic.

You also brought up "replacing cold calling with a self-marketing system". I don't know what you're including in "self-marketing" but I've seen cold calling work in places where other methods fail. In a scenario like that, telling a salesperson to replace cold calling with a less effective method seems... wrong.

The last part of your post refers to what I call "leverage", which is a timeless concept that I support.

For the most part cold calling is not the most productive use of a salesperson's time. There are many ways to acquire leads and you should be using as many ways as time permits.

Like a fisherman going out to catch fish, is it a better use of his time to throw one line in the water or cast a net? The answer is obvious.

So cast your net with many different possibilities to catch a prospect.

That being said, it's also important to know who your ideal prospect is, so you're not wasting your time with people who don't want or need your product or service.

A couple of weeks ago on the way home from my last appointment I saw a property with a 'for sale by owner' sign in the yard. I stopped and met with the seller. Two hours later I went home with an exclusive listing. I didn't consider that cold call a waste of time.

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Originally Posted by AZBroker

A couple of weeks ago on the way home from my last appointment I saw a property with a 'for sale by owner' sign in the yard. I stopped and met with the seller. Two hours later I went home with an exclusive listing. I didn't consider that cold call a waste of time.

That's a good example of cold callling and time management.

Cold calling isn't a waste of time but there might be a better use for your time doing something else so hire someone to do the cold calling campaign for you.

I have a friend who makes over a million a year cold calling, no other kind of marketing. Your first response may be to say bull.... but think about this. All his calls are either to "For Sale By Owners" and "Expired Listings" I don't know what his average commision is but where I live the average home sells for 600k 2.5% of that is 15k so if he lived in my area he would need to sell 5.5 homes per month. Yes that is above average, but there are other agents who do also sell twice that amount of homes also. Btw I asked him to let me listen to one of his calls and I can tell honestly say he takes cold calling to a level I never knew existed. He is hilariously funny and the work no is not in his vocabulary.

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Originally Posted by Jorel

Btw I asked him to let me listen to one of his calls and I can tell honestly say he takes cold calling to a level I never knew existed. He is hilariously funny and the work no is not in his vocabulary.

I have called fizzbos and expireds before and they were brutal. What system was your friend using?

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Originally Posted by realtor

I have called fizzbos and expireds before and they were brutal. What system was your friend using?

You are absolutely right they are brutal. They where brutal to him too, put your home for sale by owner on craigslist and see how many idiots call you. Just Kidding I don't want to be held responsible for the calls you get.

BTW

My friend is using the Mike Ferry system. But I prefer Tom Ferry, his son myself. But it is not the system that makes the difference it is the way he handles the call and what is going on in his mind before, during and after the call. As in everything it is your mindset.

BTW: Do you roleplay?

Quote:

Originally Posted by Jorel

My friend is using the Mike Ferry system. But I prefer Tom Ferry, his son myself. But it is not the system that makes the difference it is the way he handles the call and what is going on in his mind before, during and after the call. As in everything it is your mindset.

BTW: Do you roleplay?

Mindset makes that big of a difference?

No I haven't done any roleplaying. Will that make a big diffence too?

Cold calling is a waste of time

Cold Calling Forum