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Telemarketing For Real Estate Agents

Generate Off-Market Seller Leads Cold Calling FSBOs, Expireds, and Neighborhood Farming

Cold Call Telemarketing for Real Estate Agents

Goal:

Telemarketing for Real Estate Agents is a sub-category of Real Estate Telemarketing in general… and it shares the same primary goal:

Generate new Leads via outbound Cold Calling!

When it comes to the business model of Real Estate Agents (in this case, primarily we are talking about Residential Real Estate Agents in particular)…

… The goals for your outbound Cold Call Telemarketing can be more narrowly drilled down to generating specific Seller Leads by targeting Lists like:

  • Expired Listings
  • FSBOs
  • Neighborhood Farming Territories
  • Distressed Sellers
  • Absentee Owners / Out-of-State Owners
  • Rental Property Owners
  • Fix & Flippers
  • and more…

You can even use Cold Call Telemarketing to generate Buyer Leads (with the right Target Lists), as well as potential referral partnerships with local Vendors (Lenders, Home Services, and more).

How It Works:

Telemarketing for Real Estate Agents is one of the most popular ways to use Virtual Assistants.

The first consideration will be getting the right type of Telemarketer for your requirements…

… as there are some scenarios where an Overseas VA will be adequate, and others where you’ll definitely want to opt for a US-based native English speaker (e.g. Cold Calling high-end luxury homeowners).

Then, like all Telemarketing Campaigns, there are 2 main components to your Real Estate Telemarketing success:

#1. The Telemarketing SCRIPT,

        and

#2. The Telemarketing LIST.

You will need a winning version of both to see long-term sustainability & positive ROI.

The most important thing to consider is your own unique specialties, and how the Telemarketing Lead Generation will integrate into your existing sales processes.

Real Estate Agent Telemarketing — like any telemarketing campaign — can be unpredictable, with many ups & downs.

However, it’s all a numbers game:

If you can earn a margin that beats your hard costs, your Telemarketing Campaigns can essentially run forever!

Pros:

Cold Call Telemarketing is one of the most tried & true Lead Generation channels for Real Estate Agents.

While it can be competitive, it still tends to yield positive ROIs (when paired with the right Sales Process).

By having a trained Telemarketing team, as well as the Scripts & processes to guide their efforts, you have a scalable Real Estate Lead Generation machine that can grow (or scale back) at a moment’s notice.

Plus, Telemarketing can allow you to reach many consumers & business that would be difficult (if not impossible) to effectively reach via any other medium.

Cons:

Like all Cold Call Telemarketing:

This type of Campaign can be prohibitively expensive in terms of the Cost Per Lead (CPL) and / or Customer Acquisition Cost.

Worse yet:

Cold Call Telemarketing is extremely competitive for Real Estate Agents… especially on popular Lists like FSBOs and Expireds.

It’s still possible to make it work, but it means your learning curve is even steeper than it would be for Investors targeting less saturated Lists.

Another factor to consider is that as an Agent, if you’re targeting higher-end Homeowners and Decision Makers, you’ll likely want to opt for a higher-skill US-based native English speaking Telemarketer (meaning your hard costs will be 50% – 80% higher than a Campaign that can get away with Overseas VAs).

Work Estimate:

Depending on your List size, you can expect to invest about 2 – 4 Work Hours Per Day (about 40 – 80 Work Hours Per Month) on an effective Cold Call Telemarketing Campaign.

Then, the simple back-of-the-napkin math for List size required is:

1 Hour Dialing = 10+ Fresh Records Needed

While 10 Records Per Hour is an easy round number for your Campaign planning:

Technically, your Virtual Assistant will “burn” about 12 – 15 Records Per Hour dialing…

… meaning they actually reached those 12 – 15 people & got some type of disposition (so they don’t need to re-dial them again).

Additionally, it is important to understand that for statistically valid results (i.e. – to determine if the script & list are going to be viable or not), you’ll need to budget for at least 400 – 500 work hours, or, in other words, to connect a minimum of about 2500 calls if you don’t already have proven Scripts & Lists.

For a Campaign that has reached maturity, we typically expect to see 1 Lead “captured” for every 2 – 4 Work Hours dialing.

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