Convincing people over the phone is really challenging. In the surplus fund cold calling, you have to go step by step to get to the right owner and show what you’re offering. You don’t have to tell every detail about the fund and the claiming process over the phone. You just need to make a cold call to confirm you’ve found the right owner and ask some basic questions to determine if he/she is curious to listen the detail about your program.
What is Cold Calling?
Cold calling is a method of reaching out to potential customers over the phone. It is also called tele-sales or can be used in telemarketing. The aim is to reach out to potential customers, showing them offers, fix an appointment and convert into sales. In surplus recovery business it’s the second step where prior owners are being called over the phone to show them the money and offers to claim the money.
How to prepare for surplus fund cold calling
To prepare for surplus fund cold calling you need some information like prior owner/owners name, property address, date of sale, surplus amount ready in fromt of you before calling. Some of those information need to confirm the owners identity and some are need to gain trust that you are calling to show some real deals. Also keep in mind that you don’t have to share every detail like surplus amount and claiming period. Try to convince them without sharing much detail so that he/she calls you back to accept the deal.
Show me the steps
The total cold calling process is devided into five major steps. You can also use it as a script to make surplus fund cold call.
Step 1
This is called the confirmation step where you will confirm the owners identity if he/she was the owner at the time of sale and entitled to the surplus balance. You can confirm it by asking the recipients name and crosscheck in your database. You can say it like,
“Hey Mr. Antonio, how are you doing? | Is Mr. Antonio available? | Is this Mr. Antonio or can I talk to him?”
Then you have to ask questions with personal reference like,
“Hey did you used to live at (property address) or ever owned that piece of property”
If he/she admits that he live or own that piece of property than you have to proceed with the next step.
Step 2
In this step you have to gather some information about the prior owner like if he/she is aware of the foreclosure, have an active attorney working for him, aware of the money being held into court trust account in his name and anything else you want to know. Than proceed with the next step.
Step 3
In this step you will be telling him/her about the money. You can say like,
“Did you know you might be owed some surplus monies?”
You don’t have to tell the exact surplus amount being held into court.
Step 4
In this step you will show your offer to claim the surplus fund from courts trust account. You can say it like,
“Okay we are providing prospecting service for law firms and recovery agents. Would you like to get free consultancy from expert lawyers about recovering your surplus monies?”
Step 5
In this step you will set an appointment with the prior owner who entitled the surplus. You can leave your company name and contact detail to look forward. You can also say,
It will be a very kind of you to remember our company name Real Estate Tracer. Our clients will use this name as a reference to contact you. Have a great day.
Everyone have their own interpersonal skills to deal with people. We just tried to demonstrate how it looks like in case of surplus fund cold calling.
