The Cold Caller Next Door

by 08 Mar 2012

Cold calling!  An apt name for the process of calling people who do not expect you, especially since the mere thought of it sends chills down my spine.

Admittedly, I have on multiple occasions vowed my lifelong detest to calling people who are not very well aware that I would be calling them.  It’s not that I’m shy or insecure in my presentation, but I think it’s more a result of my past experiences.  A hang-up mid sentence, or an abrupt “I’m not interested” has never been my idea of a productive workday.

That changed two months ago when we sublet an extra room in our office, which happens to be right next to mine.  As I soon discovered, Greg, who does not work in real estate, is on the phone almost all day.  He makes call after call to people who don’t know him and had no idea he’d be calling.

After a few days of overhearing Greg’s relentless approach to his work I was impressed and intrigued.  I realized that he has a simple and efficient method.  In less than a minute of conversation he identifies who he is, how he was referred to them, pays them a compliment, and gives a quick explanation of what he has to offer.

Like a bolt of lightening it hit me, couldn’t most loan originators do the same?  It might sound something like this:

My name is Larry Lender from ABC Mortgage Company.  I saw your real estate office on my way into work today.  I’ve heard good things about your company, and so I wanted to offer a free mortgage evaluation to you or your clients.

It seems we’ve entered an era of thinking that the internet alone is sufficient to fulfill our marketing needs.  While it is very powerful when used correctly, it is not the only method to create business.  What might happen if you spent one hour, one day a week making these kinds of calls?  After that follow up with a note, email, Linked In connection, Facebook Like, etc.  If you called on ten new realtors (or, attorneys, CPAs, etc) each week you would have 500+ new contacts at the end of the year.

I’m not suggesting that one phone call will win you new business.  I am suggesting to you that it is easier than we think to turn strangers into business associates and that business associates do eventually turn into business.


Should CFPB have more supervision over credit agencies?