I'm doing a little one-on-one consulting with a relatively new agent (who's gonna ROCK!) in Denver. We have similar personalities when it comes to our feelings about prospecting and business-building, so our conversations about prospecting always lead to some interesting A-HA moments for both of us.
Anyway, yesterday, my agent friend told me about a conversation he had with a like-minded career coach - one who specializes in matching personality types with business-building strategies. According to this coach (and my friend's score on the MBTI), my friend is capable of cold-calling and door-knocking for business, and he might even be rather good at it, as long as he feels he has something of value to offer.
HOWEVER, the coach cautioned him that even though he might be moderately successful in his cold-prospecting efforts, his personality type is simply not one that tolerates rejection well over the long term. That if he spends too much of his time and energy on prospecting activities that involve a steady dose of rejection, he'll eventually become depressed and discouraged. And probably won't realize why he's so lethargic and unenthusiastic about his career... and his life.
That makes perfect sense to me! I've been preaching for a long time now that there's no reason to spend your days doing something that you aren't comfortable with when there are perfectly acceptable alternatives. And if there AREN'T perfectly acceptable alternatives, maybe you're in the wrong business!
The good news is, of course, there are plenty of real estate prospecting techniques that don't involve much rejection. Oh, sure, rejection is a part of life, but that doesn't mean you have to put yourself in positions of pursuing it in the name of generating business if you don't want to. There's no need to "suck it up" or "just do it" if the sucking-up or just-doing makes you miserable.
Life's way too short for that. Figure out what you enjoy doing that brings in business. Do that. It really is that simple.
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Tips & Inspirations to Generate Business from the Very Important People Who Know You
Jennifer, my theme for this year as I continue to build my real estate business is authenticity in everything I do. And my blogs lately are reflecting that. It feels so good to have made the decision that I will do what I enjoy and am good at (the two almost always go hand-in-hand). But it feels even better knowing that I can also build a business this way. That's where your message and your books are vital. -- Tanya in Montreal
Jennifer, there are many ways to find business in real estate. As long as someone does something with some type of regularity I am sure they will be fine. The issue is too many get caught up with complaining whether it be in the office or elsewhere.
Jennifer, thank you! I do not do cold calling and I don't farm neighborhoods where you go door to door. Thank you social media and networking and other methods!
Jennifer great advice. I can say first hand that I have experienced this. I was doing some neighborhood canvasing and after a week I didn't want to get out of bed anymore not just to canvass, but for anything. After being told "no not interested , but thanks for stopping" for a full week, I was very dis-heartened. My personality can handle rejection, but not everyday rejection. You are so right about that. So I am moving more towards things that involve less rejection and getting out of bed isn't so hard to do anymore. Being rejected provides humility to me and motivation. Being constantly rejected brings heartache and a lot of self doubt hahahaha. Great post.
I love your way of looking at things! Thanks for always reaffirming there is another way! Got your email with the link.......Thank you!
Jennifer, I don't want to give in to this, But it's looking like you are on to something. I love getting to know people in an area. And when I reach out, they remember me over the internet ads. But you're right. You have to be rejected a ton to hit the jackpot. Very small target on a HUGE canvas!
Terri - I simply could NOT take the rejection involved in numbers game prospecting. There's no question in my mind I'd be depressed, discouraged and lethargic after the third call!
Ann - A big part of the solution is realizing there IS another way! Even if you don't know what that "way" is just yet - it IS out there...
Jason - EXACTLY!!! It seems crazy that some people truly aren't bothered by the rejection, doesn't it? But not everyone is.
Bob H - Yep! There are many paths to success...
Bob J - No Whining Allowed!
Tanya - You SO get it... have I said that once or twice to you already? ;-]
Jennifer well said....my old broker used to tell me you have to be able to accept rejection....bulls**t....it does wear on you and it is not for everyone....yes their are many ways to bring in business without over stressing yourself....social media...facebook etc....super post...
Jen, now I just have to either convince my broker or just ignore her and do what works for me best. She I just nod my head and pretend to agree for the sake of peace or should I argue.
Jennifer, Life is ENTIRELY too short do do things that make you miserable on a daily basis! I never understood the cold caller method, Just think how you treat them when your phone rings these days. It cant be fun to be rejected all day long!
To a certain extent we do need to be able to let the bad bounce off, I always say I need to spray some teflon on to let the Shi Stuff bounce off or I would go crazy!
I flagged this for a feature. It's amazing how some people get stuck on something so simple - you don't have to do it to be a great agent!
I do call some expireds - depends on how much I want the house and I figure they are more like "lukewarm" calls than cold calls. They can't call ME if they dont' know me...or if someone they know doesn't know me...if I've shown the house and think I can sell it I will call them - that changes my attitude significantly re: the calling process for EXPIREDS. If I'm excited about possibly getting that particular house, and I have seen their house and can talk with them about it - I am much more comfortable calling them. It seems much less random....
If there is no answer I leave a message on their voice mail with my web address.
I would never cold call people out of the blue, nor would I call FSBO's unless it were to make an appointment with a buyer to see it. I don't call neighbors to tell them the neighbor's house is on the market...I don't subscribe to 99% of the cold calling techniques out there....and I really don't HAVE to!
Jennifer - AMEN! I couldn't agree with you more. In the eight years I've been in the mortgage industry, every single broker I have had, except my current one, has nagged me to death about taregeting, marketing and calling on Realtors. UUUGGGHHH!!!
Even when I would illustrate to my previous brokers how focusing on getting business from Realtors was a huge waste of my time, energy and money and how much more productive it was for me to focus on getting business from buyers, they would still argue that I need to cold call Realtors. !#$% THAT!
The numbers didn't lie. For me, marketing to buyers has been my lifeblood, which marketing to Realtors never did for me. My buyers are my biggest advocates and I now have a business that is nearly 60% referrals from my SOI.
I feel very fortunate that I learned very early in my career that I was NOT going to build my business by calling on Realtors. I am so glad that I made the decision very early on to focus on buyers. THE BEST BUSINESS DECISION I EVER MADE!
Jennifer, I LOVE the SWS system, and I am using it everyday. I am one of those who also likes to cold call. I know you think that is nuts, but I like it. I have never minded walking up to strangers and starting a conversation. When I started my previous career it was cold call or starve. My job description was go find people we do not know about or those who will not call us for their needs. I know that sounds like fun to you. The rejection was a little problem at first but I soon learned not to take it personal, and then I was fine. At the end of my career as a heavy truck salesman most of my business came from referrals and repeat business, but I still did some cold calling. A lot of that repeat business and some of the largest customers started out with me walking in and saying " Hi I am Tom Bailey and I sell Mack Trucks". I like to do it all, but yours is better because I think when mastered it is a more effective use of my time. Some advic,e for those who have to cold call, do it in person when possible. It is a lot easier for people to blow you off on the phone than when they are looking at you.
I physically can't bring myself to call 100 strangers per day. I screen my calls, why would I want to bother other humans? Yuck.
P.S. Just finished the new book and it's great, as always!!
You just have to find what fits your personality. The top agent in my office gets the majority of his business from calling expireds. I've never had much luck with that. Another agent has had unbelievable luck selling the house when she holds an open house.
I use to have a co-worker I would go door-knocking with. She would connect with people so well we would get invited in to 2 or 3 houses an hour. When I went by myself, I never got invited in.
Lately I've found that giving people what they want- information on HOUSES, is what is getting me clients. I HATE cold calling. But I do branch out of my comfort zone once in a while to try something new.
Hi Jennifer,
I flagged this for a feature. It's a great answer to those who think things like the new Keller-Williams "BOLD" program is a good thing. Some of my colleagues spent $800 on this cold-calling blitz. Hope it was worth it. I took one look at it and said noooooooo waaaaaaaaay.
Very cool, and congrats on your book. We are our business and we must be happy in all areas of our lives to be happy in real estate.
I agree, the constant rejection is not worth the toll it would take on your esteem.
It takes the right person to love cold calling and I am not one of them. My business sky rocketed after I started focusing on what I loved to do and just forgot about the rest. Good blog.
There is always multiple ways to get a job done. The most important is that your happy when your doing your job or running your business. Great post!
Thanks Jennifer! I'm a new agent and don't want to cold call!! It's definitely out of my comfort zone!!
Jennifer,
I am not one for cold calling either. There are so many other ways to get business. I agree that you want to wake up each morning looking forward to your work, not dreading it!
Jennifer,
Great post! I know how irritated I feel when someone calls or knocks on my door with something to sell and I would never want someone else to feel that way about me. Part of the reason real estate agents have such a bad rap is because of these aggressive techniques. I truly believe that people respond to and are attracted to authenticity. Be yourself and prospect according to your values and beliefs.
That's why I blog. I like that when people call me instead. And they do, instead of the other way around.
Jennifer:
There are so many better - and more enjoyable - ways to find business than cold calling. You are right, you have to do what matches your personality and the business will come.
To Amazon I go =) Thank you Jen.
Chris
Jennifer- What I love about this business is that there really is enough of it to go around. And just about every type of personality can find their niche and nurse it. There's no one solution that works for every realtor. Can't fit a square peg into a hole. And recognizing your limitations and working on your strengths will always bring success.
Some people are very afraid of cold-calling! But some love it. I tend to stay away from it for the most part. Maybe a FSBO here or there. I stick with the higher odds for a pay-out. Like referrals and repeat business.
David
I worked for a woman that made the number one top agent with her cold calling, the clients ended up hating her, she was so persistent in getting them to list and then they are dropped and very angry, she then beats them up via her assistant for a price reduction, gets them contracts and beats them up to take the lowest price and go to closing!!!
Besides, if you enjoy doing something, you'll be good at what you do! There are SO many alternatives to Cold Calling. As always, great post!
I don't "cold call". It's not my thing to do......Thanks for the post, there are some good tips should I decide to try it.
Patricia
It was such a relief when i started to read that I did not have to beat myself up for business. When i person realizes that then there is a spring in your step and people actually become attracted to the sparkle and shine you are eminating, instead of the dragging footsteps, from door to door. Last week i had 2 new listings from referrals, and another today. whoo hoo
Jennifer, what great advice. Why do you think the turnover is so high in those telemarketing companies? No body can take that kind of rejection for long. There are so many great ways to generate business without cold calling.
Jannifer, you are SO right! I tried it, and was miserable, business was not good, and I hated every second. Once I focused on lead generating in ways that I enjoy, it started to work for me! I think your personality type has everything to do with what kind of lead generating will work for you!
Good post Jennifer. I firmly believe there are many approaches to being successful in this industry and it's critical to choose the right strategies that fit your personality type. You don't buy success in a box or by attending a couple of seminars.
You know I hate cold calls--I don't make them, ever. ANd today I wrote a blog about receiving them and hating it as well! HEre you go Jen. Delete link if you want, but I thought this was appropriate. I love the wayt you think Jen!
http://activerain.com/blogsview/1458618/8-things-not-to-do-if-you-are-cold-calling-me
Jennifer, there are too many that say cold calling is the only way. If it were, I wouldn't be here - your points are so well taken - there are those of us who love the business and are finding ways to be successful that are true to ourselves. Another thing I'd like to mention - we have a lot of neighborhoods with no solicitation policies - sorry, I'm not much on asking for forgiveness later.
Totally agree. I never liked cold calling and I would avoid it at all costs. I am to 3% internationally with Coldwell Banker and I don't do any, nil, zero, zitch cold calling. I guess my avoidance works. There are just to many great ways to prospect to do something like that. To summarize why cold calling is a bad idea...because most people don't like people cold calling them. Imagine the concept.
Jennifer, I'm with you. I love my job too much to cold call!
Jennifer ~ Way to go and help this new agent. Most people would not have gone this far to help. Know what your good at and what you aren't pay someone to do it for you.
Jennifer, Thank you for the insightful post.
Positive word of mouth marketing is the cure for the common cold call... For more information go to www.bni.com
Cheers!
I am a 'warm call' kind of guy... I don't have time for cold calls....
Exactly why lead-generating companies make lots of money...because many agents fear and dont want to prospect because of fear of rejection. Learn how to attract people you like and work with them! Just today, I rewrote my affirmation statement defining my IDEAL client. I look forward to attracting more of them in 2010. Oh, and yeah, I rocked it in 2009!
It is a very rare bird that can consistently cold call. Back when I was a commercial salesman, I met the company manager of the telemarketers. Out of 40, he had only one that stuck it out more than 6 months. They just burn out from all the no's....
Cold calls are called that for a reason. They are cold and unwanted. I know there are better ways and each year I try some new things to add to what's already working. So far, cold calling hasn't made my list.
But, are you saying that since his profile might show that he does not do well with rejection, he shouldn't cold call. Even thou his approach is perfect for it, which contradicts itself. I don't think this sounds right. Plus, you or his coach are assuming he takes quick rejections as a bad sign. he may know that rejection is part of it and he may not expect a client out of cold calling for 6mths or a year. and again if you say he is good at it or will be, then his rejections would be less then a normal sales person. Since he is a new agent, what suggestions do you have. in the beginning cold calling is one of the major avenues to get business. once you are established it is easy to get away from cold calling. just my thoughts.
Jennifer,
My Mother taught me do unto others... I hate being cold called, so for that reason I wont do it to others.
Hi Jennifer, you say it so well, enjoy the books. I am working toward referral only myself, it just seems to take time.
Hi Jennifer,
I have to agree that one should do what they are good at. Cold calling and door knocking takes a specific type of person not to get discouraged in the long run. There are many other alternatives in today's real estate market like blogging, facebood, twitter, or emailing. I don't think people today appreciate having to answer their door or phone when they are enjoying their evening at home. What I like about these other options is that they can respond, if they wish, at their leisure. Times have changed!
Jennifer, you are so right. People need to play to their preferred marketing strengths and the will succeed!
Jennifer, people on the other end of the phone/conversation can tell if your enjoying what you do or not.
Indeed there are some people who are good at cold calling and make it work.
However....
This was a well-timed blog for me. Every January, before business really gets going I get anxious. It's at those times that I think about attempting something aggressive like that.
Then I get over myself.
Jennifer, I don't like cold-calling but I know agents who are very good at it. My goal this year is to stretch myself a little in this area.
I am a firm believer that anyone with the right attitude and work ethic can make it in business. They have to find what works for them and stick with it.
Thank you, thank you, thank you!!! I sooo needed this. It works when it does, and other times...I'd rather not be on that roller coaster ride.
We do not do things that we do not want people to do to us -- and that includes cold calling and door knocking. There are other things that we do that work for us.
Hi Jennifer,
I used to be afraid of bees and heights... I'm not any more (well at least not of heights.)
Hi Jennifer,
I guess you try it all and what ever works best and makes you feel the least amount of anxiety is the way to go!
Thanks for your post!
Wendy
Great blog! I must admit I don't mind cold calling with a purpose...like I have a buyer for your neighborhood. To be successful you have to be comfortable with your plan and execute it! If you set yourself up for success, you will be successful.
From the desk of David Dee,
Jennifer, everyone has to find out what's comfortable for them. There's a niche for everyone and it's through trial and error to find what works and stick with it.
Jennifer - When you are continuously bombarded with "suck it up" and "just do it" - because that's the way it's done! It's refreshing to hear from someone that has succeeded by doing their own thing. Now on to read your other posts, somehow I missed them. By the way, if I am outside of my comfort zone, it is usually VERY apparent. Thanks for another inspirational post.
Jennifer,
I absolutely agree. If I had to spend my days "cold calling", then I wouldn't be in this business. All my prospects call me first.
Brian
I'm with you on that! This business is all about attitude, and the clients can sense it if you don't have a positive attitude or otherwise come across as uncomfortable. This only makes me think about playing to my strengths as a Realtor and sales professional.
Jennifer - I respect your opinion and see that many agree with you. However I disagree. I believe if your ultimate goal can only be achieved by working in a capacity you feel is uncomfortable then do it. I'll offer an example: I set an income goal for each year. In order to meet previous years goals cold calling was the only way I could achieve those goals. I have not seen anyone build an immediate and large pipeline that I got from cold calling by employing other methods except spending a ton of money on advertising. I put myself in an uncomfortable situation and it is the reason I met my goals. I believe if you are in sales and refuse to get out of your comfort zone then you will have a tough time achieving financial success. In my opinion the more rejection the better. After a while you just don't care if someone says no. No means that a yes will be coming sooner. Don't get depressed, get motivated. If you want to make more money than most do what nobody else wants to do. Therein lies the profit.
I'm sure that the other alternatives are likely useful but I am of the old school mentality. Suck it up and do it or get out of this business. Lastly, the military is a demanding job and it requires concentration with one goal in mind...accomplish the mission. Not much different than real estate. The military still uses the same training methods because they work. Luckily my phone rings automatically from all of the years of cold calling and networking. However if I should desire a "raise" then cold calling can increase my income quickly.
If a large income is not your ultimate priority then I agree with your statement. Take it easy, enjoy what you do or get out of the business. For me I happen to like the challenge of confrontation so I guess it's my cup of tea.
Great post Jennifer. Cold calling is brutal for a lot of People, they hate it. So Imagine how bad it is when I need to Cold Call Realtors? (Whole nother story). I will be checking out the book you referenced in this post. Thanks.
I can think of a good reason for not cold calling. In today's world is does not work. Big surprise. And if you are not careful, can get you in big trouble if you are not checking the "do not call" list. All you have to think of is how you felt when we were bombarded by telemarketers on a daily basis. Some of us stil are from real estate and SEO firms who say since we use our phones for business we are fair game. If anything, once we have been annoyed by a company who got us out of the shower, it is not very likely we will think highly enough of them to go to them when we are really ready to sell or buy.
With the internet options available to us, cold calling is about as effective as putting an ad in your citiy's paper. Do it if you like. In fact I encourage you since that will leave more people who I can work with using the more effective and less intrusive forms of contact.
As for coaches, I have seen this agent and that agent participate in this program of coaching and that one. NONE of them have markedly increased their incomes or sales. But if you have all that money to pay to a coach instead of perhaps creating a knock-out webpage or blog, go for it. Again, I will be happy to snag the calls that the internet and other sources bring to me. I will leave the cold calls and coaches to you :)
Jennifer,
I have learned from reading your blogs and newsletters in combination with some soul searching that I am just too warm of a person for cold calls! :)
COLD calling means to me: picking up a phone & calling people you don't know so they can give you the brush off. Door to door canvassing, I consider that WARM. I have always been suprised at how nice people are when you knock on their door, especially if you are not trying to SELL them or CONVERT them. Sometimes just a pleasant introduction & a brochure can make a big impact.
Perception is everything. If you think you won't have a good time or success doing something, then you usually don't. Instead of prospecting, I think of my door knocking activity as creating introductions.
For the first 20 years of real estate I vowed never to make a cold call. But last year that changed. I can point to over 20 sales that were the direct result of cold calls on short sale clients. Do I love cold calls now? No, but I love the results. Never say never and never say always.
Well, different real estate coaches have different theories about the effectiveness of cold calling. But it really does depend upon the individual. I never make a call, but do tons of other things to offset the displeasures associated with cold calling.
Hello, people! Listen to Jennifer, I tell you! Come on, do it! You will be richer for the experience.
I remember sitting in my real estate pre-license class back in 1985. A visiting broker was talking about calling on FSBO's. I remember thinking - "how undignified, I will NEVER do that"! I soon learned that I had to do that and more to make a living. Cold calling has made me a better person overall - when someone says "no" to me, I just move on - whether personally or professionally. It really helped me grow into the strong woman I am today. I love to knock on doors - I'd rather do that than sit in a model home any day of the week!
kp
It is always easier if you are providing information. Then you are helping the person on the other end!
Phone cold calls are hard, in part because it's much easier for someone to be rude to a faceless person on the other end of the phone. I do door knocking though, to invite people to an open house in their neighborhood. I'm offering them something of value (the chance to check out the neighbor's house!) and I've never had anyone be rude. Not interested, sure - but not rude.
I can cold call, and I try to do 3 or 5 a day. I have a list I go down. But, many times I am too busy. I agree that it can be hard to be told no alot.
Find your passion, and success will find you.
Hi Jennifer, I agree...I've never embraced cold calling ~ it's just not me! I would rather shine doing business in a way that is true to myself than be uncomfortable trying to fit into a mold that may better suit how someone else shines. To each his own :)
Good post at a good moment in time for me to read and think about. Thanks!
Ridiculous. There are only two ways to have a high volume real estate business - ACTIVE PROSPECTING or SPENDING A LOT OF MONEY ON ADVERTISING.
All other methods described in this post will not yield a high volume business (OK maybe they will in 10 years). Yes, if you only want to do 10 or 20 deals a year, you really don't have to do much.
Active prospecting does not have to be cold calling but any type of active prospecting involves dealing with rejection. Sales is a numbers game. If you don't like it, go find another job.
This kind of advice (stay away from rejection if you don't like it) will put many new agents out of business if followed.
-- Danny
Jennifer I wrote a post today about going with the flow and to do something opposite of your personality and comfort level is so basically WRONG!!
Jennifer Great Post! Life is too short to waste time on things you do not enjoy. Find something that you like, still with it, and if you put your heart into it, you should come out on the end just fine.
I agree with you totally. If we love what we are doing we will be successful.
Lotsa GREAT comments here!
Daniel - I see that you disagree with me - that's okay! But I must disagree with you (respectfully) that the only ways to succeed are to aggressively prospect or spend a bunch of money. Or, pursue activities that celebrate rejection. But we can agree to disagree - there's plenty of room on the planet for both of us ;-]
John E. - I'm not sure if you're disagreeing with me or not - but from your comments I believe we agree 100%. Although - I can't swear that cold-calling doesn't work - people who do it swear by it, but I'm darn sure it would never work for me. That pesky old Golden Rule - I can't do unto others that which would annoy me if done unto me!
Nevin - Again, I appreciate your dissenting opinion! I just don't believe that real estate is a traditional sales career that is dependent on volume prospecting. We don't sell anything - we provide a service and are very well-paid for our services. Therefore, it really doesn't take tremendous volume to have a good year and it's perfectly possible to implement a Quality over Quantity approach to prospecting as opposed to a Numbers Game approach. But, that's a topic for a different day.
Nevin: "Suck it up and do it or get out of this business."
Wow, what an attitude. My feeling is - if you want to cold call, fine. If you don't, then don't. I have done VERY well in a TOUGH market. I finished 2009 in the top 30 agents out of nearly 500 active agents...and was #3 in my office for production, behind only my mentor/office owner, and one of the area's top producers.
Both of them were in the top 10 of producing agents in the entire MLS - and guess what? NONE of us cold call. Ever. They have other methods of prospecting....as do I. I made more money last year than I ever did in 3 years time at other jobs.
I am doing just fine building my business without annoying my potential customers. It's not really about rejection for me, it's about being a PITA. And I hope to goodness I never have the attitude of "Do your business the way I do it, or find another line of work." Man - that really gets my goat!
It's not me - I can't take constant rejection like that. Plus, I HATE being cold called on myself, so why would I do that to others?
Nevin: I don't cold call. I'm comfortably in the top 20% for the year out of 7000 agents. For my fiscal year with my brokerage I'm looking at the top 8%. The clowns who keep telling me about how awesome cold-calling and door-knocking are appear to be in the BOTTOM 50%. So what's wrong with this picture?
Cold calling is miserable, but giving away free information is genius. Looking at new introductions not necessarily as a sales pitch but as a chance to proove that you know real estate seems to be the way to go.
I think you all have the wrong attitude about "cold calling" and that's why you don't like it and aren't successful with it.
If you approach calling new people as an opportunity to help people who have a problem (e.g., an expired listing has a problem because they want to move and their prior agent couldn't get their home sold), you can have fun with it, enjoy it and reap the rewards.
Obviously, if you have a negative attitude and feel like you're bothering people when you call, your results will correspond.
-- Danny
Well said! It's very true.... why would you subject others to the things you dislike.