Apartment units and buildings that are put up for rent by the owner (FRBOs) are a valuable asset for agents. They allow you to work directly with landlords, get accurate information for your clients, and keep 100% of the commission. One of the best ways to enter into a partnership with a FRBO is to pick up the phone and call them! But, we know that cold-calling can make even the savviest agents start to sweat, so we want to help out real estate agents with a script to cold call landlords during COVID.
Script to Cold Coll Landlords During COVID
1. Start with basic introductions
It can be tempting to jump straight in and let your landlord know all the great things you bring to the table to help them fill vacancies quickly. But, make sure to slow down and politely ease your way into a conversation. Begin with exchanging information. In your basic introduction, say:
- Your name, your position, and the brokerage you work for.
- Let them know the address of their unit(s) and where you saw it/them listed.
- Let the landlord know why you are calling.
Need a little refresher on how you can express all these concepts succinctly? Top agents use scripts to keep themselves on-track and prepared for conversations. Check out our agent-approved 6 Part Script to Cold Call Landlords to get a walkthrough on exactly what you can say (and how!) to start a conversation with a landlord off on the right foot.
2. Stress the benefits an agent can bring to the process, especially during COVID
Keep your value prop clear. You can:
- Help fill vacancies quickly.
- Help price the unit right.
- Help determine appropriate concessions.
In particular, during the COVID pandemic, you can mention tackling concessions Say: “I’ve seen a lot of landlords offering concessions to potential clients. I can help you decide which concessions can keep you competitive, but are also appropriate for your property.
If you are an established agent with an active client base, mention that you have access to eager renters who may be interested in the landlord’s property. Careful not to make any promises that you may not be able to keep, but do let them know the type of marketing activities that you accomplish. With access to the MLS, databases like Rental Beast, you can get their unit in front of lots of apartment hunters.
Feel free to highlight any experience you think is relevant! Maybe you have other ideas that you’d like to share? Maybe you have special experience working with listing agents or maybe you’ve sold apartments in their building before. Feel free to change this part up and customize it to your liking. Remember, though, you only have a limited amount of time to make an impression, so forefront the most important things you can offer.
3. If you can, let them know about the recent successes you’ve had
Add creditability to your request and your brand by letting your potential client know about your recent successes. If you are a seasoned agent who has represented listings agents or landlords before, you might say: “I have worked successful as a listing agent for other landlords, so I have experiencing helping landlords price right, find the right tenant, and close fast.”
If you work with rentals on a regular basis, it is worth mentioning that you have experience with rentals. Don’t over-promise, but don’t be shy, either. If you consider yourself a rental expert, let the landlord know! You might say:
4. Offer to discuss further in a zoom call.
Typically, you might want to arrange an in-person meeting. Considering COVID, ask to schedule a Zoom or Skype (or your other preferred video messaging platform) meeting to discuss more about the service you can provide, and the landlord’s needs.
5. Not ready to commit? Offer to add them to your newsletter.
If the landlord seems hesitant, but doesn’t outright rejection the notion of the two of you working together, don’t press them any harder. With housing insecurity. Instead, end the conversation respectfully and professionally (“Thank you so much for your time.”) And offer to have their email so you may add them to your newsletter, so they can keep up with the real estate trends you are tracking and the recent wins you have with clients.
6. Follow up
Even if the answer is “no,” for right now, make sure to follow up. Always act respectfully! Pushy behavior is a huge turn-off; however, make sure that you stay top of mind for your landlord. Landlords may change their minds over time–you’ll never know if you don’t ask. So, create an outreach scheme that keeps you top of mind.
Cold calling can be intimidating! It’s not easiest, but practice makes perfect. Ask a friend or a member of another brokerage to practice this script with. We promise it’s all worth it when you’re representing a landlord! And, with the Rental Beast platform, you can access over 8 million listings without listing agents attached.
To learn more about the Rental Beast platform or to request a no-obligation demo visit Rental Beast for Real Estate Agents.