Download the highly effective real estate cold calling scripts for different situations.
Cold calling, when done right, can help you set up those appointments you need.
But you must remember the following ground rules for effective phone calls.
To help you get started, here are highly effective real estate cold calling scripts for different situations that will help you engage with your prospects.
You can also download the pdf to share with your friends or refer to it later.
Here’s a script for interacting with someone with whom you have never talked before. It will help you understand the level of interest by getting your foot in the door. If the prospect does not respond, you can move on to the next one or engage further to understand their interests.
You: Hi, I am [Name] working with [Organization]. It’s really good to finally reach you. Is this a good time to talk?
At this point, you need to wait for a response. They may be driving or maybe having a few busy days. Regardless of what their answer is, empathize with the situation. You can use one of the following scripts to reply.
You: I completely understand that you are busy. It’s [Prospect’s Name], right?
You: Sure [Prospect’s Name], I understand your frustration. Do you mind if we talk later?
You: Yes [Prospect’s Name], I understand you’re short on time, so I’ll get to the point.
With this cold calling script, you can understand the prospect’s interest in buying/selling a property. And this information will help you in follow-up phone calls.
You need to understand why someone would sell their property.
For instance, homeowners usually sell their homes because of financial reasons. Therefore, they try to get the most they can out of their property. Often, they avoid real-estate agents as they may have prior negative experiences or assumptions that contacting a real estate agent would cost them money.
As a real estate agent, your task here is to convince them that you can save them more money or help them get a better deal. Here is a script that can help you engage with a prospect by empathizing with them.
You: Hi, I just came across your listing on [Website], and I have a few questions regarding the home you have for sale. Are you the homeowner?
Prospect: Yes
You: I am [Name], and I am working with [Organization]. I called you because I know a few clients looking for properties like the one you’re selling. Would you mind sharing your ask price?
Prospect: [Shares their price]
You: That’s great. Are you working with any real estate agent right now?
Prospect: [Answers yes or no]
If the answer is yes, you can ask them to call you back if required. Otherwise, if the answer is no, that is, they have not connected with any realtor, you can continue with the following script.
You: Okay. May I ask you why?
Prospect: I don’t feel like they can help me. I have had a few negative experiences in the past. So I have not contacted any real-estate agent for selling this house.
You: Okay. I would not want you to go through the same experiences you went through before. I am not asking you to hire me, but I would like to give you some information that will help you get a better deal. It is something you want, right?
Prospect: Yes.
You: Alright. Let’s connect over a coffee. Does [Proposed Date] work for you?
The idea here is to understand why the prospect is not interested in a real estate agent. So, you will have to convince them that working with you will surely benefit them. They will not lose out on any money. After they are convinced to talk to you, you can tackle other issues in follow-up meetings.
You can also download the pdf to share with your friends or refer to it later.
Circle prospecting works based on your area of influence. You make a sale, and then you reach out to others who live in the vicinity. Since you have location-specific information, you now have a formal excuse to call people. Circle prospecting can help you with referrals and lead generation. However, it is a challenge to know what your prospect is up to – are they buying, selling, or moving out. This issue makes circle prospecting scripts variable.
Donna Stott at Your Coaching Matters puts it this way:
“Scripts should be nothing but conversation starters and enders. The juice is in the middle, which cannot be scripted. That’s where you build rapport and connect.”
So, here is a script that can help you with circle prospecting.
You: Hi, I am [Name], working with [Organization]. I recently sold a house in your area, and we still have a few interested buyers left. We are looking for new listings in your area right now. Are you aware of anyone who may be interested in selling?
If you are interested in selling, what would be the best price for your property?
If you made an exceptional sale, you could call up others in the area to know if they are interested in selling their property. It is similar to circle prospecting. But here, you are advertising the sale you made instead of looking for references. This way, anyone wants to sell their property will know that you are the right person to get in touch with.
The script for such a cold call is quite simple.
You: Hi, I am [Name] from [Organization]. Am I talking to the homeowner?
Prospect: Yes
You: Just contacting you to let you know that I sold a property at [Address] for [Amount]. Presently, there is a lot of interest in properties like yours. Are you interested in selling your property?
The above statement should trigger their thinking. You already know from your research that this person was thinking about selling their property. Now they know that a property like theirs sold for a handsome amount. So, the right move from them would be to reach out to you. If the prospect shows interest, then you can provide them with more information regarding the sale that would paint you in a good light.
This script serves two functions: It makes the prospect think and positions yourself as a viable option.
If you have worked in an area for a long time, you can leverage that expertise. By positioning yourself as an expert in property sales in that region, you can win the trust of locals. Use the following script to show that you’re the go-to option for sellers in that locality.
You: Hi, I am [Name] from [Organization], and I have been a resident of [Location] for over twenty years. As a real estate agent, I have helped numerous homeowners find buyers in this area. If you are looking forward to selling your home in the next thirty days, would you be open to a discussion?
The above call script directly gets to the point. The prospect may say yes or no. But even if the seller says no, they will know that you live in the area and will contact you if they need anything in the future. They may even refer you to friends and family members who are looking forward to selling their property.
You can also download the pdf to share with your friends or refer to it later.
FOMO or Fear-Of-Missing-Out creates a sense of urgency amongst people. Salespeople often resort to guilt manipulation, pushing, or making empty promises, and often, these malpractices make customers avoid real-estate agents. So, avoid those tactics. However, if you are making an aggressive sales pitch, you can use FOMO. Here’s the script to get started.
You: Hi, I’m [Name], and I work at [Organization]. I wanted to share a quick update regarding the real estate market in [Location]. Almost [Number] homes have been sold in the last [Number] days, and I have recently sold a house owned by [Customer’s Name] for [Amount] near your location. Do you know them?
Prospect: Yes
You: So, where were you before you moved here?
Prospect: [Response]
You: And if you are planning to move again, where would you want to go?
Prospect: [Response]
You: Great! And when are you planning to move?
Now, depending on their response, you can propose a follow-up meeting if they are interested. You can let them know that you have helped many people in that area sell their properties, and you can help them if they are willing to make the sale in a month or so. The idea is to create a sense of urgency. Your prospect will feel that without you, they may lose an attractive deal.
The expired listing shows that there has been some issue with the sales process. However, as a real estate agent, you should not try to find faults of the owner or the previous agent. At this point, the clients are generally emotional because the sale did not happen. Plus, a lot of real estates agents are already contacting them. So, talk to the client, give them free information and build trust before you schedule a meet. You can have short exchanges and get some information.
You: Hi, I am looking for [Prospect’s Name]. I am [Name], working with [Organization]. You know that your home came up as an expired listing. I was wondering if you’d like to interview the right agent for selling your home.
Prospect: No, I don’t have any plans. / Yes, maybe I’ll start after a little.
You: If you sold this home, where would you move?
Prospect: [Place]
You: Oh, that’s great. How soon do you have to be there?
Prospect: [Response]
You: So, what stopped you from selling the house?
Prospect: [Response]
You: How did you get in touch with the previous agent?
Prospect: [Response]
You: What do you like the best about your earlier agent?
Prospect: [Response]
You: What do you feel they could have done better to sell the house?
Prospect: [Response]
You: What do you expect from the next agent you will be working with?
Prospect: [Response]
You: Have you already chosen someone to sell your home?
Prospect: No
You: I would like to apply for the job of selling the home. I use [Technique] to sell homes. What would be the best time to give you a demo?
Prospect: [Possible Meeting Time]
According to Dale Archedkin, the founder of Smart Inside Sales,
“The best scripts are mostly composed of questions, with very little telling on the agent’s part. Agents should understand WHY they are asking questions and which questions are the best to ask.
My favorite technique is asking really great questions and keeping the prospect doing the talking. The more the prospect talks, the more they like you, and the more likely it is they will do business with you. The more the agent does the talking, the less a prospect likes you and the less likely they are to do business with you.”
With internet leads, you generally have more information about the prospect. It is because you know what listings attracted their attention and how long they spend on each website. You can call them and converse according to the following script.
You: Hi, I am [Name], working with [Organization]. I was going through my notes, and I do not see that you purchased a home you were looking for. Did you make a purchase recently? I wanted to update my notes.
At this point, you can go quiet and let the prospect do the talking. Interested clients will talk about what they were looking for and why they did not get the property. You can even use the following three open-ended questions to turn a prospect into a customer.
1. When would you like to see the property?
2. What else would you like to see?
3. What do you find interesting about this property?
You can also use Real Estate CRM software to track the lead activities, and call them when they’re still on your website.
You can also download the pdf to share with your friends or refer to it later.
Hosting open house events may not lead to sales directly, but they are great for numerous other tasks. They can help uncover potential listings in the area. They can help you find potential buyers, get new referrals, and more. Also, they can be a great way to know more about the area and the people who live there.
There are numerous ways to get contacts. You can host contests or visit homes in the neighborhood. Here are a few scripts to capture leads during the event.
You: Hi, I would like to keep you updated if any properties you may be interested in comes up on the market. It’s hard to stay updated on the market right now since it’s so hot. But if you share your contact, I’ll let you know if I come across anything relevant.
You: I am going to select a lucky winner for a contest. And I will contact them over email. Make sure you sign up so that you don’t miss out!
You: Thank you for coming over to this event. I met a couple of homeowners today who I’ll be visiting to know the neighborhood better. Those who are interested in listing their homes on the market can leave their contact with me. I’ll make sure that you’re the first to know as soon as I get any updates on the market.
Often, your calls will go to voice mail. It may feel like a missed opportunity. However, since this is your first contact with the homeowner, you can leave an engaging message. The message should sound as if it is from someone familiar. You can even tailor your pitch according to the prospect or area. Here is an example.
You: Hi, I am [Name] working with [Organization]. We have just listed a home in your area, and if you know anyone looking to move, just let me know. Thanks!
Every realtor must have a script that introduces themselves without appearing robotic. They must sound natural and convincing. Here is an example.
You: Hi, I am [Name]. Last week I sold a property in this area for a price significantly higher than the asking price. I understand you have a tight deadline for selling your property. I do have some plans to get your property moving on the market. Let me know when we can set up a meet.
Objections are common in an elevator pitch. You should always show empathy but also ask for details.
When you already know someone, you can get a head start on other agents. Since you already know the prospect, you can build up a conversation and then make the pitch. An example script would look like this:
You: Hi [Prospect’s Name], this is [Name]! We met at [Event], remember? How have you been?
You can keep this conversation going without mentioning that you are a real estate agent. However, be honest and let them know why you got in touch with them.
You: As [Reference] might have told you, I am a real estate agent working for [Organization]. I am getting in touch with friends and family to know where they are with their properties and if they are planning to move. Have you considered anything regarding your property?
If you are having this conversation with someone you know, it will be easy to build trust and keep the conversation real. Even if they say no, you can still have a productive yet casual conversation and gather information.
You can also download the pdf to share with your friends or refer to it later.
Cold calling can consume your entire schedule. So, for some prospects, you should keep a short pitch. Here is an example.
You: Hi, I am [Name], working with [Organization]. My agency has some buyers who are interested in properties in your area. Are you looking forward to selling a home now or shortly?
Here, you will get a yes or no answer. If it’s a no, you can update the record in your CRM as “not interested” and move on. Otherwise, you can use your next pitching technique.
People with prior negative experiences with realtors often try to sell their homes privately. These people often struggle and feel defeated. Here is how you can help them out.
Note that if the seller is already in touch with another agent, do not use this script.
You: Hi, is this [Prospect’s Name]? I am [Name] from [Organization]. I suddenly came across your house listed privately. Have you had any success?
Prospect: No
You: Yes, the market is a little slow right now. How long have you been on the market?
Prospect: [Response]
You: Have buyers approached you yet? What sort of response did you get?
Prospect: [Response]
You: Where are most of your buyers coming from? Are you solely relying on the Facebook post you made?
Prospect: [Response]
You: Thanks a lot for sharing this information. I just wanted to know where you are with the sale. If there is anything I could do to help you, then let me know. We have a few buyers who may be interested in the property.
This script may lead to a few objections, but you need to assure the prospect that they are in control of the sale. However, if they want to change their mind, you can ask them about the property price.
You can also download the pdf to share with your friends or refer to it later.
When talking about selling a property, a lot of clients are stubborn about the commission rates. Getting locked into a conversation about commissions can get ugly. The best way to manage this situation is to suppress it early on in the conversation.
Prospect: I do not want to pay more than a [X%] commission for this sale.
You: I understand. I am making a note that you do not want to pay more than [X%]. Let me know when you are free to meet. Is tomorrow a good day, or should we meet on the weekend?
Acknowledge the terms that the prospect is putting. However, you do not need to agree immediately. It will give you some room to negotiate later. If you disagree and the prospect does not provide any room for negotiation, there is no point in going ahead with that call.
Some sales reps like talking to people, and therefore they like the cold calling activity as well. But many salespeople, especially when they’re new to the business, find cold calling challenging. Nonetheless, just a cold call cannot guarantee a sale. It also matters how effective your pitch is and if you were able to impress them.
Cold calling requires practice and patience. Here are the tips to improve the success rates of your cold calls.
Real estate agents have to deliver impeccable speeches in a noticeably brief time. You cannot fumble even once. You need to start a conversation and get relevant information over a phone call. It is a skill that needs practice. You can practice role-play and rehearse with friends to see noticeable improvements in your pitch.
The next time you get into a complex conversation, stand up. You will notice how the energy shifts at once. You will feel more authoritative and energetic when compared to slouching on the chair. Have a look at the increasing popularity of standing desks, and you will understand.
Real estate cold calling scripts are a terrific way to get started with calling prospects. You will know exactly what to say when you pick up the phone. Navigating conversations becomes much easier with scripts. However, having scripts ready is not enough. When you’re a newbie, you’ll need a lot of practice. Hence, once again, role-playing is important.
It is always good to let the prospect do the talking. Their way of talking will allow you to gauge their interest. The more the prospect talks to you, the more likely they are to trust you.
When someone makes a statement, repeat it to show that you heard them. Then approve it to show that you acknowledge it completely. Next, by confirming, you condition them to say a yes. Here is an example.
Client: I am not really interested in selling my home right now.
You: I get it. You don’t want to sell your home right now.
Client: Yes, that’s correct.
You: Alright. That’s great. I see that your listing is 3 months old. If it sold during that time, where would you move?
Client: California.
You: California? That’s great! So, why would you be moving there?
Client: To be closer to my family.
You: Oh, that’s fantastic. So, you want to live close to your family?
Client: Yes
It will not be this perfect during a real conversation, but this script should give you some idea.
You can also download the pdf to share with your friends or refer to it later.
While it’s easy to miss follow-ups, keeping track of the buyers/sellers’ responses, making notes, and revisiting them from time to time can also be a daunting task. Therefore, you must consider a solution that automates these tasks. Take, for instance, LeadSquared Real Estate CRM software. Using this, you can automate task reminders, schedule follow-up emails, and more. It also integrates with RingCentral, CallTrackingMetrics, and other telephony/cloud calling solutions to enable one-touch calls from the CRM portal itself.
Book a quick demo to see how it makes your real estate sales process more efficient.
More in the series:
To adapt the cold calling scripts for your market or region, consider researching local market trends, demographics, and common needs or pain points of potential clients. Tailor the scripts to address these specific factors, ensuring they resonate with your target audience.
Are there any additional tips for overcoming objections mentioned in the article?While the article provides strategies for handling objections, additional tips for overcoming objections include active listening, empathizing with the prospect’s concerns, providing relevant examples or case studies, and offering alternative solutions or compromises to address objections effectively.
How can one measure the success of their cold calling efforts using these scripts?To measure the effectiveness of your cold calling efforts, track key performance indicators (KPIs) such as the number of calls made, conversion rates, appointment bookings, and ultimately, closed deals. Analyze these metrics regularly to identify areas for improvement and refine your cold-calling approach over time. Additionally, consider implementing call-tracking software or CRM systems to streamline data collection and analysis.
