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Commercial Real Estate Cold Calling Scripts to Move Prospects Down the Funnel

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Published: Oct 27, 2022

What does cold calling mean in commercial real estate?

Seeking an opportunity to make your pitch. 

The success of a cold call in commercial real estate lies in preparation and delivery. You want your prospects to know you’ve got what they need, that you’re the realtor for the job.

In this article, you’ll see commercial real estate cold calling scripts that help you 

  • Get your foot in the door and connect with your leads.
  • Gauge a prospect’s interest in buying or selling a property by hearing their pain points.
  • Position yourself as a great realtor who has sold multiple properties in the neighborhood, thus showing them that you are the realtor who can get them what they want.
  • Respects your prospects’ time by getting to the point and yet be persuasive. 
  • Move them down your sales funnel to convert them into potential buyers or sellers. 

The post also gives you actionable steps to take after each scenario to optimize your outreach. 

Commercial real estate cold calling scripts examples

How do you structure a cold call?

A good commercial real estate cold calling script covers 5 aspects:

  1. Greeting
  2. Introduction
  3. Benefits of working with you
  4. Requesting an appointment
  5. Answers for possible objections.

The scripts you see here align with this structure. However, your calling scripts must also let you progress through the conversation smoothly based on the prospect’s responses and questions to you. 

Enter Branching Scripts. 

A branching script helps your reps say exactly what they need to at every step of the cold call at the click of a button, acting as an automated real-time guide. It is an interactive script that helps your agents with easy access to every part of the script by showing the right response at each stage. 

Our script here is an example of a branching script.

Commercial real estate cold calling script 1

The script is broken down into multiple sections; each triggered based on your prospect’s response. 

Section 1

Good morning! Is this {prospect_firstname}?

Let the prospect respond.

*If you’ve reached the right person, i.e., prospect, mark the call disposition ANSWER, go to Section 2.*

*If it is not the prospect, go to Section 3*

*If the call was not answered, was busy, or was answered by a machine, leave a voice message (go to Section 14 for the template)*

Important reminder: 80% of sales calls go to voicemails. Make sure your calling software lets you leave voice messages when your calls go unanswered or to voicemails.

Section 2

Hi, {prospect_name}! I’m {caller_name}, a {caller_role} at {company_name}. I’m so glad I reached you. I just sold a property for above the market price/helped someone buy a property for the best price in the market in {prospect_locality} a few days ago. 

I wanted to tell you about [Mention what’s in it for them on this call]. 

Do you have a few minutes?

*If the prospect says this isn’t a great time, go to Section 4*

*If the prospect says they’re not interested, go to Section 5*

*If the prospect says they already have an agent/agency, go to Section 9*

*If the prospect agrees to give you a few minutes, go to Section 10*

To observe: Highlighting a recent sale you made in your prospect’s locality will help them trust you for the job.

Section 3

Oh, may I know the best way to get in touch with {prospect_firstname}?

*Note down the details they give you. 

  1. If they say the contact number doesn’t belong to {prospect_firstname} anymore, mark the contact with the call disposition DO_NOT_CALL. These contacts will move to your DNC list.
  2. If they patch you through a different number, note down that you reached a gatekeeper before getting patched through. 
  3. If they ask you to try later, mark the contact with the disposition CALLBACK. This helps you schedule a callback for that particular contact. 

Once you get in touch with the prospect, start from Section 2.*

Section 4

What time can I call you back? I’ll show you how a client of mine found a property they loved for the best price/sold a property for a price above the market price.

*If the prospect gives you a time to call back, mark the contact with the disposition CALLBACK and schedule a callback for the requested time. Otherwise, go to Section 7.* 

Section 5

I understand. Could you tell me what the obstacle is? 

*If the prospect says they don’t have the time, go to Section 6*

*If the prospect says they don’t have an estimate, go to Section 8*

*If the prospect says they already have an agent/agency, go to Section 9*

Section 6

I understand you’re busy. We can discuss and estimate a price in {no._of_minutes}, and I can even call you back at your convenience; whatever time works best for you! 

Please give me {no._of_minutes}?

*If the prospect agrees, go to Section 10*

*If the prospect doesn’t agree, go to Section 11*

*If the prospect says they aren’t sure what a good time is, go to Section 7*

Section 7

Is it okay if I check back [Mention a specific time and day]? 

*If the prospect agrees, mark the contact with the disposition CALLBACK and schedule a callback for the requested time. Otherwise, go to Section 13*

Section 8

We can discuss and I’ll give you an estimate along with the plan. Does that sound good?

*If the prospect agrees, go to Section 10*

*If the prospect doesn’t agree, go to Section 11* 

Section 9

No worries, thank you for your time. 

*Tag the contact as ‘dead-end’ and end the call*

Why the tag: Move all the contacts with the tag ‘dead-end’ out of your prospect list, so you don’t waste time contacting them again.

Note: If your prospect already has an agent/agency they are working with, you cannot pitch them your services as it violates the Standards of Practice 16-2 and 16-3.

Section 10

When you don’t know if the prospect is looking to sell/buy:
Great! I’ll get to the point. I have some [buyers looking for properties/owners who want to sell properties] in {prospect_locality}. I’ve been selling properties here for {number_of_years} years now. 

Are you looking to sell your/buy property anytime soon? 

When you know the prospect is looking to sell/buy:
Great! I’ll get to the point. I have some buyers that are looking for/sellers that are looking to sell properties in {prospect_locality}. I’ve been selling properties here for {number_of_years} years now. 
We can get your property sold/get you a property. If I show you the plan to get your property moving/to get you a property for the best price, would you consider working with me to sell/buy your/a property in {prospect_locality}?

Listen to their response.

*If they agree, go to Section 15*

*If they say NO, tag them as ‘cold_lead’* 

Why the tag: Add all cold_lead contacts to a new phonebook to target them through other channels. Only 2% of sales occur at a first meeting, so you need to build that trust among your cold leads by getting to know them, understanding their issues, and helping them with solutions, so they turn into clients.*

Section 11

I understand. Is it okay if I send you an email/text with more information about the plan? You can have a look, and I’ll follow up with you tomorrow.

*If the prospect agrees, go to Section 12*

*If the prospect doesn’t agree, go to Section 13*

Section 12

Great, I’m sending you the details right away. [Ask for their email address if you don’t have it already]

*Note down their reason for not considering the offer immediately on the ‘Notes’ tab on your console and send the details*

Section 13

No worries, I appreciate you taking the time to respond to me, {prospect_firstname}. If you change your mind, please reach me at {phone_number}.

*Mark the contact as NOT_INTERESTED, tag them as ‘cold_lead’*

Section 14

Hello, {prospect_firstname}! I’m {caller}, from {company_name}. I’m calling to tell you that we have an interested buyer/seller in {prospect_locality}. The market is in a really good state too. Please call me on {phone_number} if you’re interested. Thanks!

*Mark the call disposition as NO_ANSWER, USER_BUSY, or MACHINE and LEFT_MESSAGE as relevant. Also, mark them as CALLBACK to schedule a callback.* 

Why the disposition: The relevant disposition will show why you couldn’t reach the contact and plan your follow-ups accordingly.

Section 15

I’m going to set up an appointment for [the next step in your sales process- property visit, pricing assessment, etc.]. Is {date} at {time} okay?

[Finalize the date and time]

Alright! For now, I’d like to understand where you are at with your selling/buying journey. 

Let’s start. [Ask these questions or more depending on if your prospect is a buyer or a seller]

  1. What is your deadline? 
  2. How long have you been in the market now? 
  3. What kind of responses have you gotten from prospective buyers/sellers?
  4. Are you marketing/advertising your property? On what platforms?
  5. Was there any renovation done on your property?

[Also, as a realtor, you will get asked a few questions too.

  • What is your commission rate?
  • How long have you been in the industry? 
  • How many commercial properties have you sold?

Address these questions in your cold calling scripts so you can confidently handle them when you are on a call.]

Thank you, {prospect_name}! I’ll see you on {date}. I’ll send you a text to remind you of our meeting a day before.

*Schedule an appointment and mark the contact as MEANINGFUL_INTERACTION. Tag the prospect as ‘Potential_client’*

Why the tag: Move all the ‘potential_client’ contacts to the next stage of your funnel.

Note: All these call dispositions must be added to your campaign while you create the campaign. CallHub offers a set of default call dispositions and also lets you create custom ones.

Commercial real estate cold calling script 2: Scheduled callback following an email/text

Hello, {prospect_firstname}! I’m {caller}, from {company_name}, calling you back to touch base on our discussion around {sale_details}. I’ve been keeping a tab on the happenings in {prospect_locality}. Did you get a chance to check out my email/text?

*If the prospect has seen your email*

Awesome! As I told you, this is a quick call to understand your expectations and objectives. 

[Continue by asking qualifying questions to understand their problem and objective before you get to the next step in your sales process]

*If the prospect has not seen your email/text*

No worries! Do you want to take a look now while we’re on the call? I can send you the details again via text too.

*If the prospect agrees, send them the details via a text from your call center software*

*If they say they don’t want to take a look, then ask them for a time you can check back in. Mark the contact with disposition CALLBACK and schedule it.*

Note: CallHub’s Call Center Software lets you send a follow-up text message from right within the platform. You can save text messages that your agents can send from the calling dashboard based on their responses.

Commercial real estate cold calling script 3: Scheduled callback following the first call

Hello, {prospect_firstname}! I’m {caller}, from {company_name}, calling you back to touch base on our discussion around {sale_details}. I’ve been keeping a tab on the happenings in {prospect_locality}, and the market is in a really good place right now. 

I have the details of some other recent sales in {prospect_locality}.

I hope this is a good time to talk?

*If the prospect says YES, go to Section 10*

*If the prospect says NO, go to Section 11*

*If they’ve already closed the deal, go to Section 13*

Pro tips: 

  1. Highlight important parts of your sales pitch script that your caller should focus on.
  2. Add notes to your prospect’s profile after every call. These notes help you personalize future conversations and establish a closer relationship.
  3. Record your phone calls so you can analyze them to find room for improvement.

9 Tips That Will Help You Excel at Cold Calling

Close maximum deals by keeping track of your prospects 

You may have heard that ‘cold calling is dead’. Well, it’s not entirely true. Cold calling is dead if you don’t follow it up. We have data to back that up. 60% of cold leads say ‘No’ 4 times on average before finally saying ‘Yes’. 

So, a single follow-up is never enough to turn your prospect into a client. 

To ensure a maximum number of your prospects convert, you must track their position in the funnel and follow up multiple times through different communication channels. 

In each follow-up, you must try to learn their pain points and desired outcomes to make your next pitch more targeted, relevant, and personalized.

However, following up with everyone manually is daunting, and it’s easy to lose track. The only solution is to automate these follow-ups for multiple channels. 

Workflows will help you do that.

With Workflows, you can set up a series of automated actions that trigger based on your prospect’s action. For example, all your potential customers get moved to a new calling campaign, and all the contacts who asked for more details will get an automated text or email.

Learn more about Workflows here.

Featured image: Photo by Jimmy Chan

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