How to 5X Your Cold Calling Results in 2021 | Wholesaling Real Estate | Summary and Q&A

TL;DR

Learn how to significantly increase your cold calling results with 10 actionable tips, including making a schedule, dropping voicemails, using niche lists, and more.

Key Insights

• ⌛ Making a schedule for cold calling helps with time management and ensures dedicated time for this essential task.
• 🥶 Dropping voicemails during cold calls can lead to additional callbacks and increase the chances of securing deals.
• 👻 Using niche lists allows you to stand out among other wholesalers and target motivated sellers in specific situations.
• 🥶 Hiring a virtual assistant can free up time for other tasks and enable scaling once a certain level of success is achieved.
• 🫥 Investing in a triple line or 12-line dialer improves efficiency and allows for more contacts with potential sellers.
• 🥶 Engaging in small activities during dialing breaks can help maintain motivation during long cold calling sessions.
• 🥶 Developing a positive mindset and recognizing the potential income generated from each call can drive success in cold calling.
• 😷 Asking sellers about other properties or referrals can uncover additional deals and expand your network.
• 📲 Calling during prime hours when people are more likely to answer their phones can lead to higher response rates.

Transcript

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Questions & Answers

Q: How can creating a schedule help improve cold calling results?

Creating a schedule allows for better time management and ensures dedicated time for cold calling, eliminating distractions and increasing productivity.

Q: How can dropping voicemails improve cold calling results?

Dropping voicemails ensures that even if a call goes unanswered, the seller will have your contact information and may return the call, providing another opportunity to secure a deal.

Q: What are niche lists, and why are they beneficial in cold calling?

Niche lists, such as evictions, divorces, and probates, target specific seller situations, giving you an advantage over others and increasing the likelihood of finding motivated sellers.

Q: When is the best time to make cold calls?

The speaker suggests calling between 2 pm and 7 pm, as this timeframe typically corresponds to when people are more receptive to phone calls.

Summary & Key Takeaways

• The speaker shares his personal experience of cold calling for hours every day and offers valuable insights on how to improve results.

• Tip 1: Make a schedule and stick to it to effectively manage your time and stay disciplined in your cold calling efforts.

• Tip 2: Drop voicemails when calls go unanswered to increase your chances of getting callbacks and securing more deals.

• Tip 3: Use niche lists, such as evictions, divorces, and probates, to differentiate yourself from other wholesalers and obtain better results.

• Tip 4: Consider hiring a virtual assistant (VA) to handle cold calling once you have achieved a certain level of success and need more time for other tasks.

• Tip 5: Invest in a triple line or 12-line dialer to maximize efficiency and reach more sellers in a shorter amount of time.

• Tip 6: Engage in small activities, such as playing games or checking sports scores, during dialing breaks to keep yourself motivated during long cold calling sessions.

• Tip 7: Cultivate a winner's mindset by reminding yourself of the potential income generated from each call, motivating you to keep going.

• Tip 8: Always ask sellers if they have other properties to sell or if they know anyone who is looking to sell to potentially uncover additional deals.

• Tip 9: Call during "hot" times, typically between 2 pm and 7 pm when people are more likely to answer their phones.

• Tip 10: Don't forget to cold call your dead leads periodically, as some of them may have become interested again, leading to potential deals.