What you're missing is the big picture.

The ROI with Front Desk Time, working FSBO's, working expired's and withdrawn's, keeping in touch with your SOI, hell, even holding a "Will Work for Listings" sign on the street is about the same as "cc".  

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Instead of naming it "Cold Calling", call it "Opportunity Time", take 2 aspirins and you'll feel better in the morning.

Phil@321property.com

You have to watch for Do Not Call lists. You can get fined up $11000 for violating it. That's an expensive COLD CALL. I've had trainers show ways around it but it's too risky in my mind. I much prefer to contact people who have raised their hands they are interested in real estate. It's much easier to create a relationship with them. Contacting your SOI monthly to update on the market or just find out how they are. DON"T SELL! People hate it. DO you like salespeople calling you? I bet you don't.

Never again will I cold call, it was part of my initila training and I stopped it shortly afterwards.  I do not cold call because I do not like to be called.  Yes, I know get on the do not call list and you do not have to worry about being called.

I remember doing cold calling most of the people who talked to me where lonely and just wanted to talk to anyone.  I got zero business from cold calling. I now use that time to call people who leave me a phone number on my website. I have had much better success with them.

Cold calling? Are you still even thinking about it? Really? If there's anything the advent of "Do Not Call" legislation has taught us is, "people are fed up with being called!"

How did you feel when cold callers called you at supper time? Prime time? Or anytime? Know what I did? Got caller ID. If I didn't recognize the phone number, I didn't answer it. Then I got my number on the "Do Not Call" list. Then I got call intercept. Now the only calls I get are from people I know.

I'm lazy. So, I've found a much better way - I've tuned into station WIFN, or "What's In it For Me?" I found a way to advertise to get people to call me! And, it works.

So long, cold calling!

Go have a coffee instead (see my earlier response to a  post on getting the phone to ring).

I like my contacts the same as my coffee - hot or at least warm.

Nothing beats getting out and talking to people.  I have done a TON of door knocking in my time and your success rate is not usually great but it does work if all else has failed.

Like you said, if you have absolutely nothing else to do....

I agree Cold Calling is way to risky with the Do Not Call List. Maybe your broker is just trying to get everyone motivated to come up with new ways of getting business. or maybe that is all he knows to teach you. Either way the $11000 fine is not worth any cold calling. I even tell people calling me that if they called again I was going to sue them and it was an $11,000 fine and they stop calling. I am on the do not call list.

I'd rather have a cold, than cold call any day.   I think the key to your post is that 'your broker' wants you to do it.  Of course they do.   I'm a little tongue in cheek on this one, but I might tell him "I'll make two cold calls for every one you make".  That should  put an end to that notion.

I know you're sincere, so an idea for a different kind of cold calling might be to other area businessmen and women to see if they might be interested in building a networking group, or other referral group that might benefit both of you.   And certainly, after veryifying the DNC list, instead of mailing out just listed cards, you might cold call neighbors to let them know of a great house you just listed.  I'm sure with a little brainstorming with an associate you could come up with some other ideas that would put that telephone to work for you.

Dan

I have never done cold calling and don't think I ever will. When I feel like calling someone to generate new business, I simply call some of my old clients. See how they are doing, if everything is going well ... a lot of times I manage to call just in time when they are getting ready to sell or have friends and families who need to sell or buy. And even if nothing "productive" comes out of the quick phone conversation, at least I've done my follow up, which is something we should all be doing anyway.

In reply, if you enter a room with your badge on, in 3 seconds or less you'll find that everyone is "interested in real estate". So, it's a numbers game.

Okay, I'm not doing the wave about cc's, but I've closed enuf cc's to fit it into the rest of the pile.

phil@321property.com

NOOO, nope, nichts, nein, naah, uh uh.

Put yourself in the recipients shoes.  Do you want somebody calling you just to find out if you might be interested in  new yard signs, car, washer dryer, etc.  start blogging about sexy bedrooms, they will come to you.  good luck

This appears to be a less popular answer, But yes, I do still Cold Call, (Sometimes).  What I find works the best is I send out my just listed or sold flyer and then call the homes around there.  I consider it a semi warm call as they have already seen something from me within a day or so.  I used to drop off 25 flyers and then make the 25 calls.  Then it was not so large a number to handle.  We do not have the "Do Not Call " list.

Okay, just so you know, wouldn't knock on a door to save my life....Good Gracious, someone might be home!

One time only have I "cold called" and it was because a buyer saw a house she wanted that was not for sale. She asked me to call the owner and I did. No, actually, I sent them a note and told them please call me if they were interested in selling because I had someone who was familiar with their home asking if it would possilbly be for sale. They hadn't called me in a week so I called them. I actually listed their house, the original buyer thought it was too much and moved on but I ended up with the listing and brought another buyer to the table. So it went from cold to HOT!

Oh PS, I would rather take a beating.

Wow as a salesman that cold called businesses door to door in shopping centers and malls in my previous career, I have to say I agree 100%. Sorry for the run on sentence but one of the main reasons I got into real estate is to have a service that people really wanted and needed and not have to bother people to buy or change a service they dont even know they need or want for that reason. It is reassuring to hear so many of you veterans say the same thing though. Thanks again!

Curious, I have not read very many posts as to the actual success of cold calling. I remember calling a street one day and setting up an appointment with someone. I presented a CMA and followed up the next day, only to be told that he decided to sell privately. Well, I called about 40 people on that street to get this appointment. Two weeks later I get a call from someone who is coming to my city to sell a property that they were executor of. I picked up a buyer off of that property and also sold the listing. This listing was referred to me from someone that i had cold called on that street. Of my 40 calls I received two deals. In today's dollars that would represent 2 x $250,000 = $500,000 x 2.5% = $12,500. Not bad for 40 calls. I think I am going to give cold calling another shot. I would like to hear more success stories on this subject. Just my two cents worth. Thanks!