Numerous businesses in different industries leverage the power of cold calling to contact a broader audience and enhance their lead generation efforts. However, cold calling is especially effective for those interested in wholesaling real estate. Since your ultimate goal is to find motivated sellers and connect them with interested buyers, cold calling makes it possible to find lucrative deals that aren’t on Multiple Listing Service or social media posts.
In most cases, motivated sellers are people that suddenly find themselves in a desperate situation, which drives them to sell their property for far below the standard asking price. If you need to find sellers in an unusual situation, you’ll need to think outside the box and utilize every resource available to get in touch with them.
Successful wholesalers must create a cold calling list filled with promising prospects to ensure they can turn a profit. However, even the most thorough cold calling lists come with distinct pros and cons that you should be aware of before getting started.
The Benefits of Cold Calling Lists
Rather than throwing together a list of random phone numbers from people in your area, it’s much more effective to research and create a list of prospects that are likely to benefit from your services. In real estate wholesaling, you will need to contact sellers who must get rid of their property as soon as possible and buyers who are ready to invest in undervalued properties. Creating the right wholesaling offers unique benefits that wholesalers simply cannot experience with other lead generation tactics.
1. Cold Calling Expands Your Reach
Whether new to the real estate industry or a seasoned professional, it is always beneficial to partake in marketing for your services. However, you will need more than one method to achieve your wholesaling goals.
Cold calling lists are the ideal tool to get in touch with potential buyers and sellers that you may not otherwise reach with other marketing techniques. Furthermore, cold calling offers another point of contact to support your marketing efforts and spread the word about your wholesaling business.
2. Perfect Your Sale Pitch with Cold Calling
It’s challenging to devise an effective sales pitch, especially if you cannot speak with potential clients regularly. Cold calling makes it easy to circumvent this issue because it allows you to receive instant feedback directly from your desired clients. You can leverage this information to create the perfect sales pitch that addresses common concerns with clever rebuttals and relevant information regarding your services.
3. Turn Cold Leads Warm with Cold Calling
In the age of social media, modern marketing tactics are impersonal, making it challenging to form an authentic connection with potential leads. Cold calling offers a solution to this issue because cold callers can speak directly with each lead on a case-by-case basis. Cold callers can learn about each lead’s unique problems during the calls and offer personalized solutions. In many cases, the personal touch that cold calling provides is precisely what it takes to close a deal.
The Pitfalls of Cold Calling Lists
Every good tool has a downside, and this universal truth also applies to cold calling lists. Fortunately, these pitfalls are unlikely to negatively impact your lead generation efforts with the assistance of professional cold callers. If you don’t have the time to create the best cold calling list possible, allow a team of experienced cold callers to undertake this responsibility so that you can direct your energy toward other aspects of your real estate wholesaling business.
1. Cold Calling May Yield Inconsistent Results
Even the most dedicated cold callers find it challenging to deliver consistent results. However, a cold caller’s ability to achieve their goals also depends on the type of client you wish to attract and the services provided. Moreover, a team of professional cold callers will yield better results than a cold caller that is new to the craft.
2. Effective Cold Calling Takes Time
The most successful cold callers have access to cold calling lists with leads already familiar with your wholesaling business. Even if a lead has only heard your business’s name before, it dramatically increases the chances of turning a cold lead into a qualified lead. A cold caller may contact numerous prospects on any given day, but you can attribute their success to their level of expertise, the quality of their cold calling list, and the effectiveness of their pitch. As a result, professional cold callers spend time fine-tuning their script to attract your ideal prospects and work with you to create a list of high-quality leads.
3. Cold Calling Lists May Be Inaccurate
Another common issue that plagues cold callers is creating an accurate cold calling list with interested prospects. There is always the risk that most of your cold calling list is full of people who are too busy to take your calls. However, professional cold callers will perform extensive research about your wholesaling business and your ideal client to ensure that unproductive calls are kept to a minimum.
Supercharge Your Cold Calling Lists with Call Motivated Sellers
As you can see, working with a team of professional cold callers can mitigate most of the issues that wholesalers face when creating a lucrative cold calling list. Since the most challenging part about starting a wholesaling business is finding buyers and sellers to start building your portfolio, why not leave this to the experts?
Get ahead of your competition with the assistance of Call Motivated Sellers. We’ll contact and vet potential buyers and sellers to find the best prospects so that you can focus on other aspects of your business.
Call Motivated Sellers is an American-based real estate cold calling service that can help raise your sales and provide hot leads year-round. We have years of experience cold calling in the real estate industry and access to the best information for buyers, sellers, and agents to help you close more leads.
Want to position your real estate wholesaling business for success? Contact our team today to learn more about our services!