Real Estate Investor Telemarketing
Cold Call Telemarketing to Generate Off-Market Motivated Seller Leads
As with all types of Real Estate Telemarketing, your goal with Real Estate Investor Telemarketing Virtual Assistants is simple:
Generate more Leads!
Specifically, the best types of Leads to generate via Cold Call Telemarketing for your Real Estate Investment Business include:
- Off-Market Motivated Seller Leads (the #1 usage by far)
- Cash Buyers & active Real Estate Investors (to sell your wholesale & completed properties)
- Lenders & potential Limited Partners (LPs)
Regardless of your objective, with the right List, the right Script, and the right Telemarketer, you can generate a steady stream of new Leads for a reasonable price, on near-autopilot.
How It Works:
Real Estate Investor Telemarketing is one of the most straightforward, dependable, and predictable ways to do Lead Generation with a Real Estate Virtual Assistant.
There are plenty of time-tested & proven Scripts out there you can use almost verbatim (REVAS offers some for free with our “REVAS Method” Masterclass Bundle).
There are also plenty of ways to generate your Lists, whether you’re looking for Fix & Flip Deals, Rental Properties, or even Multifamily & Commercial Properties to buy.
As such, it’s not as much a question of whether or not you’ll be able to generate Leads…
… But whether or not it makes sense for your business in your situation.
One of the first things to consider, before committing to a Real Estate Investor Telemarketing Campaign is the economics of this type of approach to Lead Generation.
Specifically, here are several questions to ask yourself when preparing to launch this type of Campaign:
- How much do you typically earn per successful deal (avg. Profit Per Transaction)?
- How many deals can you do per month / per quarter with your available capital?
- What other external costs will you incur (list building, skip tracing, direct mail, etc)?
- What Cost Per Lead (CPL) do you need for this campaign to be profitable?
- What is your available budget for this Campaign?
- How large is your List for the Campaign? How many hours of dialing does that equate to?
- Can you afford to keep the Campaign running, even in a worst case scenario where it takes 3 – 6+ months before your first sale closes?
Telemarketing is a numbers game.
You need to understand & be prepared to manage by the numbers, not on a day-to-day, lead-to-lead basis.
While it’s definitely possible to get your Telemarketer up & running rapidly, and start generating Leads & Appointments within the first 24 hours of dialing… It’s also possible your Campaign will take some adjustments before “finding its groove.”
Sometimes your Telemarketer will get 5 Leads one day and then hit a dry spell, getting 0 Leads for 5 days in a row. Sometimes one section of a List will perform great, then another section underperforms (even within the same List from the same source with the same criteria).
Plus, just because you’re getting Leads or Appointments doesn’t mean you’re going to be seeing Closed Sales.
This is why it’s important to keep your economics in mind before you even get started.
Do the math, consider the potential costs & benefits, and make sure you have the sales processes in place to profitably close the Leads your Telemarketing Virtual Assistant will generate.
You want to build a Campaign that can be profitable long-term, and that can ideally be scalable to multiple full-time Telemarketers. To do so, you need to know your numbers, and plan accordingly.
Cold Call Telemarketing is one of the most time-tested, proven Lead Generation tactics for Real Estate Investors.
Telemarketing can become the core of your overall Marketing Mix, because it is always going to be effective (unless it becomes illegal, so don’t miss out while it’s still around!), and can be applied to a very large potential target audience. Larger investment groups have Telemarketing Lists of literally millions of Homeowner Phone Numbers.
Plus, since you’re going to be dialing a particular List, you can choose exactly what type of Leads you want to generate (in contract to Content Marketing or Display Ads, which have some targeting capabilities, but nowhere near as precise).
Therefore, if you have a very specific target you want to hit, or you’re looking for a consistent lead flow of a particular type of Prospect, Cold Call Telemarketing is one of the best possible options.
The biggest downside of Real Estate Investor Telemarketing, as is the case with most types of outbound Direct Marketing Campaigns, is cost.
Specifically, Cost Per Lead (CPL).
On a good Campaign, where the List is accurate, and not too saturated (from other Investors calling them before you), you might have a Cost Per Lead as low as $25 to $40.
However, it is possible to see an average Cost Per Lead on Telemarketing Campaigns hovering around $100 – $150!
While there are plenty of viable Campaigns in the $500+ Cost Per Lead range, that might not be a fit for your business model, especially considering it might take 50 – 100+ Leads to get a Closed Sale.
Therefore, as mentioned above, you need to be very mindful of your numbers when it comes to building a successful Real Estate Telemarketing Campaign for your Investing Business.
It’s very possible to sink a lot of money into this type of Cold Calling, without ever seeing any ROI.
The Work Estimate for Real Estate Investor Telemarketing is essentially the same as any type of Telemarketing.
First & foremost, keep in mind you should have your Cold Caller dialing for a minimum dialing period of 2 consecutive Work Hours. Ideally 3 – 4 consecutive Work Hour shifts are best for Telemarketing, as this gives the Virtual Assistant more time to “get in the groove” or achieve a flow state, 100% focused on the dialer & the task at hand.
Therefore, the bare minimum for a successful Real Estate Telemarketing Campaign would amount to at least ~40 – 60 Work Hours Per Month.
Then, some of the other key numbers you can use for back-of-the-napkin Campaign planning & calculations would include:
- About 10 fresh records needed per 1 Work Hour dialing (e.g. 80 Work Hours dialing requires AT LEAST 800 potential Leads to call on your List).
- About 40 – 60 Dials Per Hour (most of these will be Voicemails or “No Answer” calls, which you can re-dial again later).
- About 1 Lead Per 4 Work Hours dialing (successful Campaigns usually range from 1 Lead Per 2 Work Hours in the best case, and up to 1 Lead Per 8 Work Hours in the worst case).
Ideally, you should be able to get 1 Closed Sale Per 25 – 50 Leads… but sometimes that number could be as high as 1 Closed Sale Per 100+ Leads!
Therefore, plan & budget accordingly when testing your Campaign, and remember to track your numbers carefully & adjust as needed (based on the real-world performance of your Campaign).