They can’t legislate your attitude

Is the do-not-call registry a danger or an opportunity?

by Chris Heagerty   Cold calling has long been an industry mainstay for generating leads. The national do-not-call list presents agents and their brokers with a new challenge in reaching out and generating new business. We are faced with a new layer of statutory compliance, and the penalty for ignoring the registry is steep.

So we stand at the crossroads of change and we get to choose not only our attitude about the new law, but also how we will embrace it.

Cold calling is not for the weak. Each call represents an opportunity for business and the greater likelihood of rejection. Anyone who has ever cold called will affirm that the rejections far outnumber the yeses. Those who in the past found excuses not to cold call now have a law to hang their avoidance on. It is all too easy to opt out and not make calls.

For agents undaunted by compliance with the new statute, there is still great opportunity in cold calling. Now, though, the cold-calling field will definitely be minus many competitors. As the weaker agents decide it is too much trouble to check the registry, the ones who do will capture a larger percentage of the business. After all, it is human nature that the harder something gets, the fewer who will compete.

For Sale By Owners also fall within the mandate of the registry. Many agents who might have called a FSBO will be weeded out by the extra layer of compliance. This leaves a smaller number of agents to compete for the listing. The more aggressive agents with strong follow-through will take the initiative to actually call on the FSBO in person. In the hierarchy of lead generation, an in-person visit usually trumps a phone call in winning the listing. As things get harder, competitors fall away.

Past clients are exempt for up to a year and half after they have actually done business with an agent. The challenge is to continue to stay in touch beyond that 18-month period and still comply with the law. Calls made to past clients with the purpose of staying in touch and informing or educating are not calls with the overt purpose of generating new business. That means that building relationships that last is still very "in" and does not come within the scope of the do-not-call registry.

Any change to our industry is fraught with danger and opportunity. The cutting-edge professional sees change as a precursor of opportunity leading to profitability. We should grasp change with the mindset of how we can turn this into an advantage. In general, a new focus on old habits could lead to increased business. For example, if it is not your policy to collect the e-mail address and mailing address when you first meet with a prospect, now is the time to begin. The new statute does not affect mailing or e-mailing (though you will have to comply with new e-mail rules in Texas). Many times we default to calling because we did not have the presence of mind to ask for an e-mail or mailing address when we first made contact.

Remember that despite all the changes that come our way, our attitude remains solely under our control beyond the bounds of any legislation. There is opportunity inherent in change that at first glance appears burdensome. We just need to be clever enough to look beyond the obvious.

Chris Heagerty, CRB, CRP, GRI, is general manager, independent contractor business line for eRealty.com. E-mail her at cheagerty@eRealty.com.

Illustration © PhotoDisc.

home   current issue    top 10    resources 

discussions   contact us   search

Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.texasrealtors.com.