Realtor Cold Call

Dan Keller

Dan Keller's Version with Chad Cooley

Ring Ring...Realtor: Hello?

Me: Hello, this is Steve Mohseni at Compass correct?

Realtor: uh yeah yeah it is who's this

Me: Awesome hey Steve, my name is Kurt. I have a question for you. Are you in the position to take on more business right now?

Realtor: uh well I'm a realtor I'm always in the position to take on new business uh I guess it depends how um what is this about exactly? Who are you with?

Me: Like I said my name, Kurt Kessler at Barrett Financial...

Realtor: and uh oh hey yeah yeah hey let me let me just stop you right there I get a lot of these phone calls every single day from lenders I've been working with Dan Keller for 15 years so I'm not interested in any new lender relationships uh so I appreciate what you're calling for but I'm really not interested

Me: Yeah, Steve, I'll tell you this I'm not looking to take anything away from Dan Keller. I'm not into that. I am into generating business. I have the unique ability to generate business regardless of market conditions for my real estate agents that I work with. and I'm really looking to connect with Realtors that are able to convert that those listings. If I were to generate you a listing do you think you'd be able to convert that business?

Realtor: yeah I mean yeah I mean if I if well depends on the lead but in most cases yeah I can always convert business um but I mean I just I guess I just don't get it are you selling leads um what is this like what do you do exactly what do you mean yeah yeah yeah it for you you're just looking to send me business?

Me: No, I'm not selling leads, Steve. That's not the purpose of this call. If I generate you a listing and you converted it, that family would have to move somewhere correct? And there would be a buyer for that listing, correct?

Realtor: yeah I guess so yeah yeah

Me: So my only expectation if I generated you a listing and those sellers turn into buyers, you would have no problem referring that business right back to me right? And if the buyer of your new listing needed a lender or a 2nd opinion, you would have no problem referring them also, correct?

Realtor: Correct yes

Me: Awesome and that's exactly what I am talking about and that's it. So let's do this this, lets do a Zoom meeting, tomorrow. I have 5 o6 available. I'll show you exactly how this works so that we can get started. Which time works for you?

If at the end of the meeting we are a fit, we will do some business. If not we will go our separate ways. I am not in the business of giving out business I am in the business of generating the business.

Source Unknown:

"This is a cold Call" version:

Hi Steve,

Just to let you know, this is a cold call.

If you don’t want to do the call, just hang up now. But if you got 40 seconds….

This is Kurt Kessler, with Barrett Financial.

MMA:

Monday Thor's Hammer

Template: “I think you are awesome, (or, “ thinks you are awesome”) and I would like to treat you to a cup of coffee so you can tell me more about how awesome you are….”

Here’s what it sounds like:

“Hey Realtor Bob, this is Carl White at ABC Mortgage. . I would love to treat you to a cup of coffee and ask you about how you have created such an amazing business. It sounds really impressive and I have learned that it’s good to learn from those who have done so well. Is Wednesday at 2:00 p.m. a good time, or is there another time that’s better?”

Them: “Sure Carl, that sounds great. See you at 2:00 p.m. on Wednesday.”

OR Them: “I don’t have the time.”

You: “Of course you don’t! You are a top agent and you have a lot going on. What if instead of meeting at Starbucks, I pick up 2 cups of coffee and bring them to your office Wednesday at 2:00 p.m. Do you prefer regular or decaf?”

Them: “I don’t have time for that either this week.”

You: “Is it OK if I call you from time to time to see if another week is better?”

If “Yes,” call them every week.

If “No,” take them off your list and put somebody in the slot. At the meeting we “FROG” them. Talk about Family, Recreation, Occupation, and Goals.

At the end of the meeting we give a call to action:

“It was great meeting you for coffee today. It’s easy to see why everyone is always talking about you! I would love to work with you every once in a while. What would we need to do to make that happen?

Pause

Is it OK if I call you from time to time to see if you are working with someone that I can help?”

(I’m really looking forward to working with you, not your deals — YOU!)

Rebuttal: Already working with another loan officer

Them: “I’m already working with loan officer Jimmy.”

You: “Of course you are already working with a loan officer — who wouldn’t want to work with you? I’m sure Jimmy must be amazing to have earned your business. Let me ask you this: would it be OK if I called you from time to time to see if maybe Jimmy was busy, or if you needed a 2nd opinion on a file, or perhaps Jimmy is on vacation…is it OK if I call you from time to time to see if I can help you with something that Jimmy doesn’t have time for? Is that OK?”

Rebuttal: Will you pay for my Zillow leads?

Them: “I’ll work with you if you pay for my Zillow leads.”

You: “I would love to talk to you about doing some co-marketing. Let’s do this, let’s see if we are a good match first. Let’s work together and close 4 deals first. Let me show you how I close on time, give great communication during the loan process, and follow up on your leads like green on a pickle so that you get even more referrals from those people going forward. Then, after I have shown you what I’m known for and we decide we are a good match, I would be happy to talk about doing some co-marketing. I don’t see any reason to delay, do you? Let’s get started.”

Amir's Version:

Call Preparation

First, I pen with honesty sincerity and vulnerability

Secondly, I did my research in advance I did a pre-call stock before I called my Prospect and made it more personalized

Third I was clear and proactive in any potential objective saying I know you get a lot of phone calls and I know you're probably already in a relationship with other lenders lastly, I stated how there's something in it for her to meet with me by stating I can share with you what I'm doing for other real estate agents in this market to win

The Call

Hi, Stephanie, my name is Kurt. It's great to meet you do you have just one or two minutes?

Great you don't know me but I'm a really big fan of yours and I've been mustering up the courage to call you for some time now.

I'm a local lender and I know you probably get a lot of calls from lenders.

I know you're probably in a relationship with a few lenders.

Before I called you, I did a little research and what I love learning about you from your online profile is how you led a 100 million dollar development early on in your career and are still able to juggle your responsible ability to serve on your school board for your two kids.

It's really impressive.

Would you be open to meeting with me for just 30 minutes I think we can do some great things together and I can share with you what I'm doing for my other agents to win in this market.

Tim Braheem

First conversation with a realtor (breaking the ice)

“Hey. I've seen your name a lot. It sounds like you're really crushing it, and I want to hear more about what you're doing. I hear your name everywhere. I just want to know how you're doing it."

Asking for the first meeting after introductions

"Hey, is it cool with you if I follow up with you, I just want to see how things are going for you and see if there's maybe an opportunity in the future where we could work together."

When the realtor invites you to present your value proposition in a “slow” real estate market

“I'm talking about the fact that I can get bridge financing. I'm talking about the fact that I can get loans with credit scores and down payments that are a bit out of alignment with a paper loan, with still competitive rates. I'm talking to them about the market and what's happening with interest rates and where I see it going right now

When the realtor invites you to present your value proposition in a “hot” real estate market

"Wow, okay, let me share with you some of the things I think we do that are incredibly unique. My team and I put together an incredible system for facilitating loans that exceeds people's expectations and provides terrific customer service. May I take you through that?”

“Mary, I, to be honest with you, I'm a hard worker and I, I'm proud of the student of my craft that I am. But the reality of it is I have an unfair competitive advantage over the rest of my competition. I have an amazing team of people. We have an extraordinary system that allows us to do some really special things to make an impact on people and to make the service that we provide so much more fluid and to make the communication really topnotch and proactive.”

Ending the 2nd meeting with a realtor after presenting your value proposition

“One of the things that I find to be really important is that now you're putting your reputation, your paycheck, your valuable time, and mine and my team's hands. And I don't want to presume that just because I've said a whole bunch of things here that may sound good, that that's what you really want. What I'd really rather do is just treat you as if you were one of your buyers. Let's set up an appointment at my office. Come in and meet with me, or we can do it on Zoom. It'll take about 20 minutes, and I want to take you through my process of educating and consulting with anybody that you would refer me to so I can show you what it is that you should expect, and maybe display for you some of the value that I bring that makes me unique and as a part of your evaluation process as to whether or not I'm the right person for you to be working with. And if that's okay with you, one of the things that I really would need to know is how you like to be sold, how you like to be talked about. Because Terry, what I know for sure is that there are probably many things that you would love to say about yourself to your prospects, but it would kind of come off as you patting yourself on the back and being arrogant. And I know how that is because I've been there.