As every Real Estate Agent knows Leads are the most important quality of success in our business! Now what is important is how to focus your time so that it is most productive (after all there’s only 24 hours in a day and you need to utilize all of them in the best way possible)!
We’ll start off with Door Knocking; since it’s a very simple concept. The pros are obvious: You have the personal interaction with a Potential Lead needed to actually start forming a Relationship. Even if you don’t find any leads you’ll have found a few Contacts that you can keep track of and AT THE VERY LEAST have given out your card to multiple members of the Community! Not only that but you get to start getting a real visual feel for the area you’re Farming in, not to mention you can get a sense for value of houses in the area (as well as Positive Aspects of the Community to Talk to Clients About during presentations and potential sales). However there are a few cons as well! You can only cover a certain amount of ground during a Door Knocking Time Block; plus you can only cover a certain Farming ground of area (meaning if a lot of people work at the same company or are in the same community, this can go for or against you; see “Targeting Specific Communities for Relationship Building”. Not only that, consider if there are a lot of hills and the terrain of the area that you’re Door Knocking in; though this can be a pro and a con, you can work up quite a sweat if you’re out for a few hours!
Cold Calling on the other hand is much easier and you can do it right from your office! (or your bedroom if you’re like me and prefer to utilize a more Relaxed Office Approach). The pros of this would be you can cover MUCH more ground via Cold Calling then you could with Door Knocking! It’s also less of a stress on your body (though you won’t get your Daily Exercise out of it). Consider your Data Limits as well! This is actually really important, if you’re out and about and get a call from a client; you may not be able to do the research you need to do in order to serve them (remember our motto: “We are here to SERVE you, not to CLOSE you!”). This can be very detrimental if you’re in a serious Contract Negotiation or something else where Time is of the Essence, even if you have unlimited data, if you don’t have a laptop or a reasonably comfy spot to work in; it may still be hard if the research needed is something you have to search around for. With Cold Calling this isn’t an issue! However remember you won’t get the Personal Touch with Cold Calling; meaning it’s much harder to Convert a Lead or Make a Contact than it would be Door Knocking. You can still certainly Convert out of Cold Calling; but certain adjustments to things like Tone and using Scripts becomes so much more important than they would be otherwise (since the potential lead can’t see you and therefore your Relaxed Body Language and other factors won’t count for you).
Jay Tiberius is the Pen name for a Local Real Estate Broker in Issaquah Washington. He enjoys Writing, Real Estate and Long Walks on the Beach and lives with his cat Pinocchio.