GITNUX REPORT 2024

Real Estate Cold Calling Statistics Revealed: Optimizing Strategies for Success

Unveiling Real Estate Cold Calling Secrets: Statistics, Strategies, and Best Practices for Success Revealed!

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

71% of buyers want to hear from sellers early in the buying process

Statistic 2

42% of people prefer communicating via phone in a business context

Statistic 3

82% of buyers accept meetings with sellers who reach out to them

Statistic 4

85% of prospects are dissatisfied with their on-the-phone experience

Statistic 5

Only 3% of buyers trust salespeople

Statistic 6

71% of buyers want to hear from sellers early in the buying process

Statistic 7

28% of cold calls are answered

Statistic 8

The average cold call lasts 80 seconds

Statistic 9

92% of all customer interactions happen over the phone

Statistic 10

The optimal number of cold calls per day is 60

Statistic 11

Cold calls that last over 5 minutes are 70% more likely to result in a follow-up

Statistic 12

The average salesperson makes 52 calls daily

Statistic 13

The optimal cold calling time is 10 minutes

Statistic 14

The average salesperson spends 25 hours per month leaving voicemails

Statistic 15

Cold calls that last longer than 5 minutes are 70% more likely to result in a follow-up

Statistic 16

92% of all customer interactions happen over the phone

Statistic 17

The optimal number of cold calls per day is 60

Statistic 18

The average salesperson makes 52 calls daily

Statistic 19

The best cold calling scripts have a talk-to-listen ratio of 55:45

Statistic 20

Cold calls that include collaborative language are 36% more likely to result in a meeting

Statistic 21

The best cold callers spend 10% more time talking about prices than average performers

Statistic 22

Cold calls that use the word 'imagine' are 32% more likely to book a meeting

Statistic 23

The best cold callers spend 54% of the call listening

Statistic 24

Cold calls that include questions about pain points are 28% more likely to result in a meeting

Statistic 25

Cold calls that use the phrase 'how are you?' are 3.4x less likely to result in a meeting

Statistic 26

The best cold calling scripts have a talk-to-listen ratio of 55:45

Statistic 27

The best time to make cold calls is between 4-5 PM

Statistic 28

Wednesday is the best day for cold calling

Statistic 29

Thursday is the second-best day for cold calling

Statistic 30

The best time to cold call is between 10-11 AM

Statistic 31

Cold calling success rates increase by 46% when called on Wednesdays

Statistic 32

The best time to cold call is between 4-5 PM, with a 164% better contact rate

Statistic 33

Thursday is the second-best day for cold calling, with a 49% better contact rate

Statistic 34

Only 1 in 50 cold calls result in an appointment

Statistic 35

Cold calling success rates are highest in the real estate industry at 2%

Statistic 36

Only 2% of cold calls result in a meeting

Statistic 37

Cold calling success rates are highest in the real estate industry at 2%

Statistic 38

Cold calling is 6.3 times more effective than email marketing

Statistic 39

41% of salespeople say their phone is the most effective sales tool

Statistic 40

69% of buyers accepted cold calls in 2019

Statistic 41

75% of executives are willing to make an appointment or attend an event based on a cold call

Statistic 42

Cold calling is still the second-best way to reach prospects

Statistic 43

Cold calling is 7x more effective than email for reaching prospects

Statistic 44

41% of salespeople say their phone is the most effective sales tool at their disposal

Statistic 45

69% of buyers accepted cold calls in 2019

Statistic 46

80% of sales require 5 follow-up calls

Statistic 47

44% of salespeople give up after one follow-up

Statistic 48

48% of salespeople never follow up with a prospect

Statistic 49

47% of top performers ask for referrals consistently

Statistic 50

80% of sales require 5 follow-up calls after the meeting

Statistic 51

The average salesperson only makes 2 attempts to reach a prospect

Statistic 52

80% of sales require 5 follow-up phone calls after the meeting

Statistic 53

48% of salespeople never follow up with a prospect

Statistic 54

60% of customers say no four times before saying yes

Statistic 55

93% of converted leads are contacted by the 6th call attempt

Statistic 56

60% of customers say no four times before saying yes during a cold call

Statistic 57

35-50% of sales go to the vendor that responds first

Statistic 58

50% of buyers choose the vendor that responds first

Statistic 59

35-50% of sales go to the vendor that responds first

Statistic 60

63% of salespeople say cold calling is the worst part of their job

Statistic 61

90% of top salespeople use social selling tools

Statistic 62

71% of sales reps say they spend too much time on data entry

Statistic 63

87% of high-growth sales organizations use sales enablement tools

Statistic 64

90% of top salespeople use social selling tools

Share:FacebookLinkedIn
Sources

Our Reports have been cited by:

Trust Badges

Summary

  • Only 1 in 50 cold calls result in an appointment
  • 28% of cold calls are answered
  • The best time to make cold calls is between 4-5 PM
  • Wednesday is the best day for cold calling
  • 80% of sales require 5 follow-up calls
  • 60% of customers say no four times before saying yes
  • The average cold call lasts 80 seconds
  • 44% of salespeople give up after one follow-up
  • Cold calling is 6.3 times more effective than email marketing
  • 92% of all customer interactions happen over the phone
  • The optimal number of cold calls per day is 60
  • 41% of salespeople say their phone is the most effective sales tool
  • Thursday is the second-best day for cold calling
  • Cold calls that last over 5 minutes are 70% more likely to result in a follow-up
  • 35-50% of sales go to the vendor that responds first

Imagine making cold calls in the real estate industry – where only 2% result in a meeting, but Wednesday is your lucky day and 80% of sales require 5 follow-ups! From dodging how are you? to mastering the art of pain point questions, these statistics show that while 63% of salespeople dread it, 71% of buyers want to hear from sellers early. So, grab your phone, aim for 60 calls a day, and remember, the best cold callers spend 54% of their time listening – because in a world where 41% believe the phone is their best tool, it’s all about finding the right words for that 2% success rate!

Buyer Preferences

  • 71% of buyers want to hear from sellers early in the buying process
  • 42% of people prefer communicating via phone in a business context
  • 82% of buyers accept meetings with sellers who reach out to them
  • 85% of prospects are dissatisfied with their on-the-phone experience
  • Only 3% of buyers trust salespeople
  • 71% of buyers want to hear from sellers early in the buying process

Interpretation

In the complex world of real estate, statistics paint a fascinating, and often contradictory, picture. While a staggering 71% of buyers express an eager desire to hear from sellers early in the buying process, only a minuscule 3% actually trust salespeople. It seems the art of communication via phone is not dead, with 42% of individuals preferring this method in a business context. However, the alarming revelation that 85% of prospects are dissatisfied with their phone experiences suggests there's much room for improvement. Nevertheless, a promising 82% of buyers are open to meeting with proactive sellers who reach out to them, hinting that personal engagement could still be the key to success in this cutthroat industry.

Call Metrics

  • 28% of cold calls are answered
  • The average cold call lasts 80 seconds
  • 92% of all customer interactions happen over the phone
  • The optimal number of cold calls per day is 60
  • Cold calls that last over 5 minutes are 70% more likely to result in a follow-up
  • The average salesperson makes 52 calls daily
  • The optimal cold calling time is 10 minutes
  • The average salesperson spends 25 hours per month leaving voicemails
  • Cold calls that last longer than 5 minutes are 70% more likely to result in a follow-up
  • 92% of all customer interactions happen over the phone
  • The optimal number of cold calls per day is 60
  • The average salesperson makes 52 calls daily

Interpretation

In the high-stakes world of real estate cold calling, where every second counts and every interaction is a potential opportunity, the statistics speak for themselves. From the surprising fact that 92% of customer interactions occur over the phone to the optimal number of 60 cold calls per day, it's clear that success in sales hinges on mastering the art of the call. The key takeaway? Longer calls equal more follow-ups, so maybe it's time to ditch the voicemails and dive headfirst into those conversations. After all, in a world where time is money, 80 seconds might just be all you need to seal the deal.

Call Techniques

  • The best cold calling scripts have a talk-to-listen ratio of 55:45
  • Cold calls that include collaborative language are 36% more likely to result in a meeting
  • The best cold callers spend 10% more time talking about prices than average performers
  • Cold calls that use the word 'imagine' are 32% more likely to book a meeting
  • The best cold callers spend 54% of the call listening
  • Cold calls that include questions about pain points are 28% more likely to result in a meeting
  • Cold calls that use the phrase 'how are you?' are 3.4x less likely to result in a meeting
  • The best cold calling scripts have a talk-to-listen ratio of 55:45

Interpretation

In the high-stakes world of real estate cold calling, it seems the key to success lies in a delicate dance of words and silence. With a talk-to-listen ratio akin to a riveting conversation over cocktails, the best cold callers know that collaboration is the name of the game. While pondering prices and painting vivid pictures with the word 'imagine' can lead to lucrative meetings, it's the art of listening and probing for pain points that truly sets the top performers apart. So, next time you pick up the phone to dial for dollars, remember: it's not just about what you say, but how you say it that seals the deal.

Call Timing

  • The best time to make cold calls is between 4-5 PM
  • Wednesday is the best day for cold calling
  • Thursday is the second-best day for cold calling
  • The best time to cold call is between 10-11 AM
  • Cold calling success rates increase by 46% when called on Wednesdays
  • The best time to cold call is between 4-5 PM, with a 164% better contact rate
  • Thursday is the second-best day for cold calling, with a 49% better contact rate

Interpretation

In the high-stakes world of real estate cold calling, timing truly is everything. Wednesdays emerge as the undisputed champions, with a 46% success rate boost that puts them in a league of their own. It seems like Wednesday's got the secret sauce, but let's not forget about Thursday, the trusty sidekick with a 49% contact rate advantage. And let's not overlook the power hour between 4-5 PM, where you can practically hear the phones ringing off the hook with a jaw-dropping 164% better contact rate. So, fellow agents, set your alarms for 10 AM on Wednesdays and ready your pitches for those golden hours in the afternoon. The numbers don't lie – success favors the well-timed cold caller.

Conversion Rates

  • Only 1 in 50 cold calls result in an appointment
  • Cold calling success rates are highest in the real estate industry at 2%
  • Only 2% of cold calls result in a meeting
  • Cold calling success rates are highest in the real estate industry at 2%

Interpretation

In the world of real estate cold calling, it seems success is as elusive as a hidden gem property. With statistics showing that only 1 in 50 calls lead to an appointment and a mere 2% result in a meeting, it's clear that navigating this industry is akin to a real-life game of Monopoly. Despite the odds, those in the real estate game seem to have a knack for sealing the deal, with cold calling success rates holding steady at 2%. So, if you're in the business of selling homes, it's time to brush up on your charm and negotiation skills – because in this game, staying ahead means more than just passing go.

Effectiveness

  • Cold calling is 6.3 times more effective than email marketing
  • 41% of salespeople say their phone is the most effective sales tool
  • 69% of buyers accepted cold calls in 2019
  • 75% of executives are willing to make an appointment or attend an event based on a cold call
  • Cold calling is still the second-best way to reach prospects
  • Cold calling is 7x more effective than email for reaching prospects
  • 41% of salespeople say their phone is the most effective sales tool at their disposal
  • 69% of buyers accepted cold calls in 2019

Interpretation

In a world where emails can easily be dismissed with a click and social media messages are lost in a sea of notifications, the age-old art of cold calling proves to be the unsung hero of sales tactics. While some may cringe at the thought of picking up the phone and dialing a stranger, the statistics don't lie - cold calling reigns supreme. With a success rate that defies the digital age, it's clear that in the game of sales, sometimes the old-school approach is still the most effective. So, next time you hesitate to make that cold call, just remember: your phone might just be your secret weapon to sealing the deal.

Follow-up Strategies

  • 80% of sales require 5 follow-up calls
  • 44% of salespeople give up after one follow-up
  • 48% of salespeople never follow up with a prospect
  • 47% of top performers ask for referrals consistently
  • 80% of sales require 5 follow-up calls after the meeting
  • The average salesperson only makes 2 attempts to reach a prospect
  • 80% of sales require 5 follow-up phone calls after the meeting
  • 48% of salespeople never follow up with a prospect

Interpretation

In the wild world of real estate cold calling, the numbers paint a stark picture of perseverance versus complacency. With 80% of sales requiring a tenacious five follow-ups, it seems many are content to throw in the towel far too soon, as evidenced by the 44% who give up after just one try. The irony of it all is that while top performers consistently seek out referrals and understand the importance of nurturing leads, a surprising 48% of their peers prefer to let potential opportunities slip through the cracks. It's a tale as old as time – success often hinges on the willingness to put in the extra effort, even when the going gets tough.

Persistence

  • 60% of customers say no four times before saying yes
  • 93% of converted leads are contacted by the 6th call attempt
  • 60% of customers say no four times before saying yes during a cold call

Interpretation

In the world of real estate cold calling, perseverance truly pays off. Surprising yet intriguing, these statistics reveal the dance of rejection and success that agents must master. Like a game of skillful persuasion, 60% of customers may initially rebuff the offer up to four times before finally saying yes – a testament to the art of turning a no into a resounding yes. Moreover, the odds tilt drastically in favor of diligent persistence, with a staggering 93% of converted leads stemming from the 6th call attempt. So, whether you're facing repeated no's or feeling like a broken record on that 6th call, remember – success often hides behind the persistence of a well-tuned cold call.

Response Time

  • 35-50% of sales go to the vendor that responds first
  • 50% of buyers choose the vendor that responds first
  • 35-50% of sales go to the vendor that responds first

Interpretation

In the cutthroat world of real estate, speed truly is of the essence. These statistics serve as a wake-up call for agents who snooze and lose - with a staggering 35-50% of sales going to the vendor who hits the ground running and responds first. In a game where every second counts, being quick on the draw can mean the difference between sealing the deal or watching your competition dance away with the commission. So, if you want to be the top dog in this dog-eat-dog industry, you better pick up that phone and start dialing before your rivals beat you to the punch.

Salesperson Sentiment

  • 63% of salespeople say cold calling is the worst part of their job

Interpretation

In the thrilling world of real estate, where negotiations can make or break a deal, it seems that cold calling is the necessary evil that haunts the minds of 63% of salespeople. Like a tedious game of phone tag with fate, these fearless agents must navigate the treacherous waters of rejection and uncertainty in pursuit of the next big sale. But fear not, for in the battlefield of real estate, every "no" brings them one step closer to that resounding "yes" that will make it all worth it. So pick up that phone, brave souls, and dial your way to victory!

Technology Integration

  • 90% of top salespeople use social selling tools
  • 71% of sales reps say they spend too much time on data entry
  • 87% of high-growth sales organizations use sales enablement tools
  • 90% of top salespeople use social selling tools

Interpretation

In the fast-paced world of real estate, it seems like everyone is chasing success with their own blend of modern tools and traditional techniques. From social selling to data entry woes, the statistics paint a picture of a competitive landscape where efficiency and innovation are the keys to unlocking growth. It's no surprise that the top salespeople are embracing social selling with open arms, while also grappling with the never-ending battle of data entry. In the end, it's clear that those who adapt and leverage sales enablement tools are the ones poised for high-growth success in this dynamic industry.

References