How to Use Warm Calling to Get More Real Estate Business
If the idea of cold calling sends shivers down your spine, it’s time to add warm calling to your lead generation mix. Keep reading to learn how you can leverage warm calling to secure more clients.
Why Warm Calling Works
The real estate business is all about relationships. Buyers and sellers aren’t looking for salespeople, they want trusted advisers who can help them navigate the confusion and difficulties associated with real estate transactions. With cold calls, you are merely prospecting in hopes that you will sell the person on the other side of the phone yourself and your services.
With warm calls, on the other hand, you are reaching back out to previous contacts who are in the market for your services. Instead of making one cold call after another, use your time more effectively by contacting prospects that are more likely to be interested in what you have to say.
Making it Warm Calling Work
Effective warm calling relies on good segmentation of leads, thoughtful scripting and effective communication. This means you will need to:
Identify your warm leads. Before you can leverage a warm lead, you need to know who they are. Go through your CRM and establish definitions based on the following criteria:
- Hot leads have explicitly expressed a desire to work with you to sell or buy a home
- Warm leads are aware of you and have shown some interest in your services
- Cold leads know little about you and have not expressed interest in working with you
A warm lead is someone you have already contacted at some point. Referrals can also qualify as warm leads, even if you haven’t yet spoken to them. Someone can also be viewed as a warm lead if they’ve filled out one of your online forms (depending on the context). Whatever the case, a lead cannot be warm unless the person knows who you are and is in the market for your services.
Segment your leads. Once you’ve identified your warm leads, you should segment them in your CRM. It’s not enough to have a big broad list of warm leads; you need to differentiate each one based on key factors, such as lead source, price range, referrer, target move date, neighborhoods and home type.
Craft call scripts. To nurture your warm leads, you need to thoughtfully engage them. A good call script can help guide you along. In general, you should start by introducing yourself and reminding them of how you know each other. You should then inquire about their needs by asking open-ended questions that will get them talking. You should also answer any questions they might have with an eye toward providing as much value as possible. Without waiting too long, you should then request an appointment to meet either at their residence, your office or someplace else that’s convenient for them.
Listen actively. A warm call shouldn’t be a sales pitch. When you call a warm lead, you want to invite the prospect to talk about the things that matter to them. Be sure to repeat key phrases so they knows you are actively engaged in the conversation. Don’t change the subject, even if the conversation drags on. Never make a warm call if you are short on time and always be ready to listen attentively so the lead will know you are focused on their needs and ready to help them achieve their real estate goals.
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