Dialing For Dollars In Real Estate Investing
Let Your Fingers Do The Walking!
I’m a real estate investor working my own business and a mentor for the Real Estate Profit Coach. I travel the country teaching at real estate educational seminars. I also work with our students on-site and assist them in building their real estate business.
Anyone in sales is taught the Dialing for Dollars concept, and it absolutely works. In sales there are suspects, prospects and clients. A suspect is someone that doesn’t know they need your service. A prospect is someone that knows they need your service, you just need to close the deal. A client is someone who is using your service.
Now, there is cold calling and warm calling. Cold calling is where you pick up a list, phone book, whatever, and call the suspect blindly. Think telemarketers. Yeah, that’s how I feel about it too. I much prefer warm calling. This can either be referrals from someone who knows about your service, or a call back from marketing you’ve sent out to suspects and prospects. If the suspect/prospect is calling you, chances are they are interested in your service, hence the warm call. These conversations tend to be much more productive, and my preferred method of dialing for dollars.
A key to dialing for dollars is understanding what your suspect/prospect needs. I use different marketing pieces to target specific audiences. I also use different phone numbers so I can track the success of individual campaigns. No point spending good money on a bad campaign.
Another important item in dialing for dollars is the timeliness in which you return the phone calls. The majority of my calls are directed to voice mail so I can screen out the whack-a-doos. That’s a technical term. My goal is to return the call within 24 hours so I’m still fresh in their minds. Sooner if possible so someone else doesn't beat me to them.
Does dialing for dollars work in today’s economy? Absolutely!
You don’t need any special tools other than an elevator speech for the homeowners for that first live phone call. Remember to tailor your elevator speech towards the needs of that particular caller. Dial for dollars is a good thing! Your bank account will thank you. Happy hunting!