Cold Calling Yourself vs Using an ISA Company

Cold Calling Yourself vs Using an ISA Company

First, let’s define cold calling. A cold call in this case is a call to a new person who doesn’t know you and isn’t expecting your call. Calling your database of past clients is not a cold call. Calling someone you talked to 2 years ago is not a cold call. Defining a cold call here is sourcing new prospects for real estate transacting.

Now, even as a company who offers to make calls on behalf of real estate agents, the best call you could ever make is a call made yourself. Even if you’re not a precision-trained sales shark, a personal call is always better than a represented call. In fact, according to a study by Keller, if the average real estate agent could commit 15 hours per week to cold calling (that’s 3-hours daily), considering the average home price in the USA and the average GCI per sale, the average agent would make an additional $290,000 annually; and that’s assuming you’re not very good at it.

So if that’s the case, why isn’t every agent dedicating three hours daily to cold calling? Well to start, a lot of agents who are committed to growing their business don’t have three spare hours every day between referrals, submitting offers, showings, open houses, negotiations, closings, and not to mention their own personal life (if you’re an agent reading this, you might be thinking “personal life? What’s that?!”). The average agent doing $10M in annual sales volume is working on average between 60-70 hours per week. Stack on 15 hours of cold calling and we’re closing in on 100-hour work weeks. Most people aren’t able to sustain that over long periods of time.

Furthermore, once you begin to scale your real estate business, you realize that you should be doing the tasks that nobody else can. These are the client-facing, relationship-building tasks; the things that you would never have someone do on your behalf. This is called maximizing leverage. What are the tasks that generate you the most revenue? What are the tasks that, if you no longer had to do them, would free up your time to maximize your revenue generating activities? Things like transaction co-ordination, paperwork, administrative tasks and, for most agents, prospecting for new business.

In the same vein, success in cold calling takes an incredible amount of persistence, consistency, and resilience. Without persistence, nothing comes of cold calling. Without consistency, nothing comes of cold calling. And without resilience, cold calling gets really discouraging, really fast. Leave it to someone else while you focus on closing deals.