By: Maggie Ma | Realtor-preneur who’s always learning. Licensed House Expert at Keller Williams Realty. Coming from contribution.
As the millennials have become the largest group for buying and selling real estate, luck is on your side if you don’t like to cold call.
As a real estate agent, I’ve been taught to make cold calls to Expireds and FSBOs to earn business. Being a non-native speaker, it wasn’t an easy thing to do, and I’ve tried my hardest dialing through hundreds of numbers a day on Mojo and Vulcan 7, shooting for 25 conversations and 3 leads. I had less than 3% who yelled at me and said that they hate Realtors; and approximately 25% who would just hang up, upon hearing that I am an agent. And I had one incident where someone sent me a letter that contained poop, just because I called them…
Nonetheless, I did it for about a year, and earned 11 listings from doing it. There is no doubt that many top producing agents would have done far better but it was quite an achievement for me. More importantly, I was touched by my own perseverance. I did meditation and affirmation daily. I listened to coaching calls and scripts over and over. I practiced smiling into a mirror when I was about to cry.
People who know me know that I am not a quitter. I won’t quit doing something just because it is hard. One night, when I was reading Jim Collins’ “Good to Great”, I was compelled to ask myself, “Is cold calling what I am best at? Is cold calling the only way?”
The answer was an obvious NO. Fast forward six months later, we started building Realtivity, a mobile collaboration app that would allow real estate agents to stay in touch with clients and leads via group app to app and text messaging. We believed that as technology is transforming literally every industry, it can also empower real estate agents and enhance everyone’s experience for good.
So why do we think you are lucky if you don’t like to cold call?
As an agent, we probably all have experienced occasions where someone wouldn’t otherwise take our phone calls would respond to our text messages. Millennials and Gen Z are particularly so. Growing up with email, instant messaging, Snapchat, and Instagram, the newer generations have a different way of communication. I was shocked and entertained at the same time when I read this article about Consuming all of your partner’s #content. Apparently, watching your partner’s Instagram and SnapChat Stories has become the norm of communication for the younger generation and even an requirement for developing courtship.
When someone doesn’t even want to take their partner’s calls, what are the chances they’d be delighted to receive a cold call from a real estate agent??
Data research has shown that the average response time for instant messaging, including text and app to app messages, is less than 3 minutes. We probably can all agree that we read almost all of our texts and chat messages, but we tend to forget our leads or clients would do the same. We stick to mass emailing or call calling just because we have a CRM and a dialer. Let’s think again.
Personally, I believe technology is going to change our lives in even more significant ways than it has already done, and the impact can be even bigger than the discovery of making fires or the invention of electricity.
Artificial intelligence is going to be part of our human brains, and autonomous cars are going to reshape the urban / suburban landscape. But we, the real estate agents, are still printing MLS on paper.
This is why we decide to create Realtivity, a smart collaboration app, built with mobile instant messaging, for all things real estate, aiming at empowering our real estate professionals and vendors. And it doesn’t require cold calling!!!
You are lucky if you don’t like to cold call!