Mastering Compliance in Real Estate Cold Calling: Tips for Success

Posted In | CRM | Help Desk | Calling Solution | Real Estate, Contractors & Construction

Real estate agents often use cold calling as a strategy to find potential clients and close deals. However, this approach comes with its own set of legal compliances that agents must adhere to. Understanding and mastering these regulations can dramatically increase the success rate of your cold calling efforts. Here are some tips to help you navigate this important aspect of real estate marketing.
 

Understand the Regulatory Framework

Before you start dialing numbers, it's essential to understand the regulatory framework governing cold calling in the real estate industry. In the U.S., this is primarily regulated by the Federal Trade Commission (FTC) through the Telemarketing Sales Rule (TSR) and the Telephone Consumer Protection Act (TCPA). These laws protect consumers from unsolicited calls and provide guidelines on when and how businesses, including real estate agents, can make cold calls.
 

Check the National Do Not Call Registry

The National Do Not Call Registry is a list of phone numbers from consumers who have indicated their preference to limit the telemarketing calls they receive. It's crucial for real estate agents to cross-reference this list before making any cold calls. Calling numbers listed on this registry could lead to hefty fines.
 

Obtain Explicit Consent

Under the TCPA, real estate agents must obtain explicit written consent from the person they wish to call or text. This consent can be given electronically through email, website form, text message, or social media message. However, it's important to keep a record of this consent for future reference.
 

Respect Time Restrictions

Time restrictions are also an important aspect of cold calling compliance. The TSR prohibits telemarketing calls to consumers before 8 am or after 9 pm. It's essential to respect these time boundaries to avoid potential legal issues.
 

Provide an Opt-Out Option

Every cold call or text message must provide an easy and clear way for the recipient to opt-out of future communications. This could be a simple instruction at the end of the call or a link in a text message. Once a person has opted out, their number must be removed from your call list immediately.
 

Keep Records

Keeping detailed records of your cold calling activities can protect your business in the event of a complaint or lawsuit. These records should include the time and date of each call, the phone number called, the agent who made the call, and any consent or opt-out requests received.
 

Mastering compliance in real estate cold calling is not just about avoiding fines and legal issues. It's also about building trust with potential clients. By respecting people's privacy and preferences, you demonstrate your professionalism and integrity, which can significantly boost your reputation and success in the real estate industry.