Want to stay one step ahead of your competition?
Pick up the phone and start cold calling potential leads and prospects.
It’s one strategy that most of your competition refuses to do — which makes it that much easier for you when you’re keen to do it.
Since they refuse to learn how to do it effectively, just by smiling and dialing you can turn a fresh list of leads into hot buyer and seller prospects for your investing business.
You don’t just want to pick up the phone and start dialing, though.
Instead, you’ll want to learn some of the best cold calling scripts for investors so you know that each call you make is as effective as possible — and that you have the best chance at striking a deal.
In this guide, we’re going to break down what most investors do wrong when it comes to cold calling, what you can do right, and give you some of the most effective cold calling scripts we’ve ever used.
Cold Calling For Investors: The Professional Way
The key to making cold calling work for your business doesn’t necessarily revolve around the scripts that you use when you’re making the calls.
Where most people fail when it comes to cold calling is in the approach they take — before they ever actually pick up the phone and dial.
If you want your efforts to be as effective as possible, you want to make sure you’re starting with the right approach.
Step 1: Find Accurate Phone Numbers
The first step is making sure that the data you’re working from is actually accurate.
Many investors download lists or buy lists from brokers, start dialing, and run into dead-end numbers which gets incredibly frustrating, making them want to just find another way to generate leads.
When you’re building the lists yourself, though, using a tool like Propstream, you can ensure that the data is as accurate as possible before you get started.
Rather than deal with the headaches of contacting leads that have been hammered by dozens (or even hundreds) of other investors, it’s worth the time to build your own lists.
We’ve put together a TON of guides on how to generate your own lists for cold calling:
If you want your efforts to be as effective as possible, click here to give Propstream a test run using what you learn in those guides.
Step 2: Get Organized
The next step is making sure you’re organized before you start dialing.
Cold calling can be pretty intense between figuring out who to call first, who to call next, which calls need to be returned, what you spoke about, what they want, what you want, and the list goes on.
A lot of investors rely on spreadsheets and notebooks to track this information.
Which is a HUGE mistake. (It’s how hot deals fall through the cracks.)
To keep from leaking deals through your business because you’re being unorganized, you can use a tool like REsimpli to manage your operations.
With it, you can organize your data, track leads through each deal stage in your CRM, stack lists, skip trace numbers to get accurate information before you call, and dial directly from the software.
It also helps you automate followups and appointment reminders with prospects.
On top of organization, REsimpli will also help you monitor your accounting and give you the ability to blast your cash buyers when you have a new deal ready to go.
Since you’re going to be making so many calls and having so many conversations, you want to make sure you’re as organized as possible before you get started.
Step 3: Use The Right Cold Calling Scripts
Then, once you have the foundations laid, you can start making calls.
Like we mentioned above, though, don’t just pick up the phone and start dialing.
As you’re making the calls, you want to use cold calling scripts that have been proven effective.
Knowing what to say when a prospect answers the phone and how to respond to them when they start hitting you with questions is the key to making cold calling work at a high level.
To do that, there’s 5 great scripts you can use.
Cold Calling Script #1: First Outreach
When you’re calling a prospect, they’re going to want to know why you’re calling.
One of the easiest ways to let them know is with a simple…
“Hey, name! I’m glad we could finally connect. I’m Jim with Local Investment Group. Just checking in, is now a good time for you to talk?”
More often than not, they’re going to tell you that now isn’t a good time.
To which, you only have to respond with something along the lines of “No problem. Instead of taking up a bunch of your time, the reason I’m calling is because…”
Then get straight to the point.
Your only goal is to get to arranging a time that you can get together for a more in-depth call.
Cold Calling Script #2: Check Their Interest
The second script you can use will help you check whether or not they’re interested so you immediately know whether or not you should move forward.
“Hey, it’s Jim from Local Investment Group. Am I speaking with the homeowner, by chance?”
If you are talking with the homeowner, respond with:
“Great. I’m calling because I have a few buyers that are starting to look for properties in your area. If someone wanted to buy your home right now, would you have any interest in selling it?”
This script is designed to pique their interest if they’ve possibly thought about selling already.
If they haven’t already thought about it or express that they aren’t interested, you can leave your information with them in case they ever change their mind and decide to sell.
Cold Calling Script #3: Quick Pitch
Your quick pitch script is exactly as the name implies — lets people know exactly why you’re calling and what’s in it for them if they keep listening.
“Hey Jame, just checking in. I purchased a home in your area last week for quite a bit more than other homes were selling for. If I were able to get you top dollar for your home would you be interested in hearing more about the offer?”
With this script, you’re not trying to close the deal on the call, just get an appointment.
You can adjust this script to include pain points that you know they might be facing, like being in tax lien status, or pre-foreclosure, or whatever the case may be.
Cold Calling Script #4: Straight To The Point
With a majority of your calls, you’re going to be interrupting people.
That means you need to make sure each call you make gets straight to the point.
A great script for doing that is:
Hey, this is Jim from Local Investment group. I’m calling because I have a few buyers that are looking for properties just like yours. Is selling now or in the near future something you’ve considered?”
With this script, if you get a positive response, engage them in a conversation. Break down how you can help them and how you’ve helped other people like them.
If they say no, shift them in your CRM and mark them as a cold lead so you can follow back up again later.
Cold Calling Script #5: Following Up
When you’re attempting to follow up with a prospect that you’ve spoken to in the past, it may not necessarily be a completely cold call but it will still feel like a cold call.
For times like those, you want to use a simple following up script.
“Hi John, it’s Jim from Local Investment Group. Checking back in on the offer I made on your property not too long ago. I’ve noticed that the market is shifting quite a bit lately. Are you interested in potentially selling your property?”
Your goal with this script is to figure out whether or not they’re still thinking about selling and, if they are, giving you an opportunity to submit a new offer to them or booking an appointment to discuss it further.
Step 4: Track Your Progress
If there’s one thing the most successful cold calling investors have in common it’s their ability to take notes on each and every person they speak to.
Since a majority of your deals will happen during your follow up calls, you want to make sure you aren’t trying to remember what you talked about the first time you talked to the prospect.
If you’re using a CRM like REsimpli, it’s easy to take notes.
Then, if you get in touch with a prospect months later you won’t be hunting down notebooks or trying to rack your brain to remember what offers you made or what you talked about.
The key here, though, is to TRACK EVERYTHING.
Tips For Successful Cold Calling For Investors
To make your cold calling even more effective, there’s a few best practices you can follow.
Tip #1: Just Pick Up The Phone
One of the biggest reasons more investors aren’t finding success with cold calling is because they just don’t get started doing it.
For whatever reason, they never pick up the phone — so they never get results.
If you follow the steps that we’ve laid out for you in this guide, though, and realize that you’ll be bad at it at first but you’ll get better with each call you make, you’ll do great in the long run.
There’s nothing that can replace simply picking up the phone, smiling, and dialing, though.
Tip #2: Persistency & Consistency
With strategies like cold calling, your success is in the numbers you hit each day.
The more people you try to get in touch with, the more people you’ll get in touch with. And the more people you’ll book appointments with. And the more opportunities you’ll create for yourself.
You’re going to have people hang up on you. You’ll have people get irate with you.
But if you expect that stuff going into the calls, it won’t affect you as much and you’ll realize that there are people who want to hear from you and want to work with you.
If you’re not persistent and consistent in your approach, though, you’ll never get to experience the “yes”.
Tip #3: Your First Few Words Matter The Most
The opener you use when they answer the phone matters more than anything else.
You want to make sure those first few words let them know exactly why you’re calling and what’s in it for them if they keep listening to you.
Using the scripts in this guide helps you overcome a lot of those hurdles.
Then, practicing how you respond to people as you get past the script will be a consistent evolution but one that will pay HUGE dividends as you get better and better.
Tip #4: Remember: You’re A Human
With cold calling, you need to treat it like a numbers game.
But you also need to remember that you’re not a robot — you’re a human talking to other humans.
It’s not all about the transaction. It’s ultimately about the person that you’re trying to help and how you’re trying to help them.
Tip #5: Be Efficient
From how to build lists and manage your leads to the tools you use to actually make the calls, being as efficient as possible will help you make more calls each day.
And the more calls you make, the more chances you get to help someone buy or sell a property.
What’s The Best Cold Calling Script For Investors?
This is a fully loaded question because every situation and every investor is going to be different.
The key to finding success with cold calling scripts for investors is taking what’s been proven to work and then making it your own — without changing it too much until you understand what you’re doing.
Being able to freeflow through conversations after you’ve laid out your script is where the real money will be made and that only comes with experience.
So to answer the question?
The best cold calling script for investors is the one that you’ll actually use.
