The "spray and pray" approach to cold calling in real estate is nothing more than acquiring a list of homeowners and calling to land a meeting. And it's not very effective.
Real estate professionals need a road map to be successful at cold calling. This plan can be created using structured cold calling scripts for real estate sales.
Cold calling scripts can keep the conversation going with a prospect by reducing those awkward pauses and can help you build a sales pitch that motivates potential clients. Not only that—increasing prospect interest can help you upsell or cross-sell–for example, adding on staging or property management if those are services you offer. Cold calling scripts can also simplify the lead generation–especially for those new to the industry.
Are you unsure where to start? That's why we’ve prepared ten phone scripts for use in the real estate world.
Let’s dive in.
What is Cold Calling for Real Estate Professionals?
Remember: this does NOT mean simply calling every possible client and offering your services on a whim. Successful cold calling for real estate agents means choosing the phone numbers most likely to lead to new business and creating scripts that identify their pain points and offer your services as clear, helpful solutions.
When done correctly, cold calling works for real estate agents. Research shows that 28 percent of telemarketing cold calls are answered, and 1.7 percent of the people realtors talk to will end up as appointments or referrals.
If these figures don’t sound compelling, you are better off outsourcing your lead acquisition to one of the popular inbound lead generation companies for Realtors. But know that it will cost you money. If you don’t have a budget for lead generation, stick to cold calling. It works well but not as good as inbound marketing.
What kind of scripts should you use?
Want a competitive edge? Explore our guide to real estate prospecting.
Are There Different Types of Real Estate Scripts for Sales Calls?
Effective cold calling scripts should never be generic or one-sided. Building a script that motivates your real estate leads involves identifying their pain points, testing your pitch, practicing it with role play, and refining the script over time.
Of course, new agents will likely create several scripts for their sales calls, depending on the situation. For example, you may decide to create a script for:
- FSBO calls
- Expired listings
- Referrals
- First-time home buyers
- Circle prospecting
Want to see how these real estate cold calling scripts work in the real world?
10 Real Estate Cold Calling Scripts You Can Use Now
Let’s dive into some actionable examples you can swipe for your next sales calls. We’ll share ten different real estate situations where you’ll need a unique sales script to captivate your audience, plus an adaptable script you can adjust to fit your business.
1. For Sale By Owner (FSBO) Script
A major pain point for homeowners is setting an asking price that’s far too low and regretting the sale down the road. As a real estate agent, you can capitalize on this pain by showing how you can get them the price their home deserves.
This way, you can become a trusted real estate agent for their home. Don’t just throw numbers out; back your claim with verified market research and presenting comps. Start the conversation by building trust as quickly as possible.
The Script:
You can now carry forward the conversation from here.
2. Elevator Pitch Script
Any good salesperson should have an impactful answer to the question: “What do you do?”
While it’s tempting to respond with a quick, “I’m in real estate,” remember this is a great opportunity to generate interest in your services, and you don’t want to miss it.
While it’s not the time to launch into a 30-minute spiel about your real estate business, you can take a couple of quick sentences to pique a potential client’s interest.
Here’s a great example of a real estate elevator pitch from Renzo Real Estate:
This follows the formula:
- Identify a pain point
- Point to a solution (that’s you)
- Offer proof
- Pivot with a CTA
The Script:
Even if they don’t know of anyone off hand, you’ll have planted a seed that might result in a referral.
3. Expired Listings Script
Selling houses is not easy. Often, people list their houses with high hopes that are later crushed when their ideal time frame goes by, and they’re still not able to sell.
An expired listing script can motivate homeowners to relist their property and give it another shot. If you use the right words, you can get a frustrated homeowner excited about selling the house again.
The Script:
4. Referrals Sales Script
Referrals are one of the most underutilized tools in a salesperson’s toolbox. When clients are happy (either because you got them a great sale price or helped them buy), they are usually happy to refer you to people they know who want to buy or sell a house.
The main point of this script is to get in touch with past clients and ask for a review or a referral. This script can help you build a very healthy relationship with them. If you keep checking in on past clients occasionally, they won’t just share leads and refer you to their friends; they’ll also seek your advice on their future investments.
The Script:
5. Online Buyer Lead Script
With the rise of automated listing platforms and real estate agent websites, getting new inbound leads for your real estate business is easier.
Then, it’s up to you to get in touch!
Even though these leads are some of the hottest you can find, many realtors send a quick email with the information the lead requested and never follow up.
Instead, try this—if your first email doesn’t get a response, make a call. Start the conversation by reminding them of the form they filled out and politely letting them know you wanted to bring the information to their attention.
The Script:
This script helps you build trust by showing them that you are a real estate expert with experience selling houses in the area they are interested in.
Reaching out proactively also shows you are organized and stay on top of communication–an important part of successfully buying or selling a home.
6. Introducing Yourself as the Real Estate Agent
A slight variation of the elevator script, this introductory script is a way to present your services to new clients, whether they’re walk-ins at your real estate office or people you interact with over the phone or online.
The Script:
Obviously, you’ll need to adjust the script to fit your business, but the core outline will help you get started. Remember to focus on your experience, your expertise, and what you do.
7. Circle Prospecting Script
Circle prospecting is an effectual calling strategy real estate professionals use in neighborhoods where homes sell quickly. By contacting homeowners in these hot neighborhoods, you might catch potential clients interested in making a profit on their homes–just like their neighbors. This will also support your overall sales prospecting efforts.
Here’s how to grab their attention:
The Script:
8. Leveraging Recent Sales Script
This script focuses on showing homeowners the recent market trends in their neighborhood. Bringing them up-to-date about the selling prices of their neighboring houses can help them realize the potential in their own home, which might push them to sell.
The Script:
You can now carry the conversation forward and share comp data. Help them understand the shift in market trends and why their area is becoming so popular. Even if they aren’t ready to sell now, they may be interested in a few months. (So make sure to follow up if they seem interested!)
9. Real Estate Follow-Up Sales Script
Whether following up with potential buyers after an open house or a potential seller that’s gone cold, being persistent can make the difference between a new deal and a lost one.
Here’s how to follow up effectively in real estate:
The Script:
10. Dangling the Carrot Script
Our Dangling the Carrot Script is a good way to generate leads when you have buyers but no new listings to show them in the area they want. Reach out to homeowners in the area and ask if they (or anyone they know!) want to sell their houses. Sometimes, people are looking for the right agent to help them sell their house.
By dangling the carrot, you show them buyers are looking to pay a good amount of money for their house. This excites the homeowners about selling their home–especially if they hesitated because they weren’t sure it would go for a reasonable price.
The Script:
With these scripts in hand, your team will have ample resources to choose from to land their next client and improve their success rate.
Bonus Cold Calling Tips for Real Estate
To make cold calling more effective for your real estate business, it’s essential to start with these four factors:
- The right real estate marketing strategy: Know your audience, and you’ll know how to get the word out about your services in a way that appeals to them.
- Accurate contact information: Use real estate prospecting tools to find the contact information you need on the first try.
- Proven cold calling scripts: Both for talking on the phone and for leaving voicemails.
- The right CRM: A communication-focused CRM that’s tailored for cold calling will help you make the most of your cold calling efforts.
What is the right tool to help you make more valuable calls and get more clients for your business? Try Close for free for 14 days to see how its communication-focused features can help you boost your real estate business.
