Real estate cold calling still works when it’s done with clear tracking, strong filtering, and fast follow-up. In just 96 hours, Jayce Henry's team placed roughly 15,000 cold calls to homeowners. That effort generated 62 interested sellers, including one campaign that produced 32 qualified real estate leads and 8 contracts under negotiation.
This case study breaks down the numbers, explains what separated qualified leads from noise, and shows how small teams can turn phone calls into real estate deals.
In this episode of the DealMachine Real Estate Investing Podcast, Jayce Henry with the team breaks down real campaign data from 96 hours of cold calling, including how 15,000 calls led to 8 signed contracts. Want to hear the full conversation? Watch the full episode below:
Want to improve your real estate cold calling results? Apply these lessons, or share this blog with your acquisitions team to align on what actually converts calls into contracts.
The Goal of This Real Estate Cold Calling Campaign
The goal was simple: understand exactly how many calls it takes to produce qualified seller leads and contracts through cold calling. The team tracked each stage of the funnel, including calls placed, leads logged in the dialer, qualified warm sellers, and signed contracts.
Jayce walked through live KPIs using a shared Google Sheet tied to a multi-line dialer. The data focused on recent months, with emphasis on August through the present. They reported that this cold calling lead source outperformed other real estate lead generation methods they had used.
How Many Cold Calls Does It Take to Get a Real Estate Deal?
In this campaign, it took about 5,500 calls to generate 32 qualified leads and 8 contracts.
Across the full 96-hour push:
- 15,000 total cold calls were placed
- One primary campaign produced 46 dialer leads from 5,500 calls
- After filtering, 32 leads were considered qualified warm sellers
- Those 32 leads resulted in 8 contracts under way
Another campaign required nearly 15,000 dials to produce around 42 leads, highlighting how list quality and process can dramatically affect efficiency.
What Is Considered a “Qualified” Real Estate Cold Calling Lead?
A qualified lead is not just someone who answers the phone. In this campaign, qualified real estate leads met strict criteria:
- The owner had the right property type (no vacant lots)
- The seller showed real motivation to sell
- The timeline to sell was near-term, not vague or long-term
Out of 46 leads logged in the dialer, only 32 met this standard. The remaining contacts were either disqualified or placed into a separate “potential” category for long-term follow-up.
This filtering step ensured the client only received sellers with real intent.
How Did Dialer Settings and Data Hygiene Improve Cold Calling Results?
Clean data played a major role in reducing wasted calls. Wrong numbers were scrubbed early, voicemail detection was optimized, and phone number quality was closely monitored. These adjustments lowered dead dials and increased live conversations with actual property owners.
By keeping dialer statuses and spreadsheet tracking aligned, the team reduced confusion between raw leads and qualified sellers. Campaigns with cleaner data required fewer calls per qualified lead, improving overall cold calling efficiency.
How to Turn Cold Calls Into Real Estate Contracts
Motivated sellers, realistic pricing, and fast follow-up turned leads into deals.
How Did Seller Pricing Impact Conversion Rates?
Many of the qualified sellers shared asking prices well below common valuation benchmarks. Several were open to offers under 80%, 70%, and even 60% of estimated ARV. These pricing signals made negotiations faster and gave investors room to handle repairs, title issues, or quick closings.
Why Did Fast Follow-Up Matter So Much?
The client who closed 8 contracts moved quickly. Sellers were called back the same day, walkthroughs were scheduled without delay, and conversations stayed focused on timelines and next steps. This urgency helped prevent leads from going cold and significantly increased close rates.
Why Did Some Cold Calling Campaigns Fail While Others Succeeded?
Process and focus mattered more than call volume.
One underperforming client worked across eight different states and closed zero deals from roughly 40 leads. Spreading efforts across too many markets made it harder to master pricing, scripts, and follow-up. In contrast, the top-performing campaign stayed focused, used a clear script, and followed up consistently.
How Can Investors Replicate These Cold Calling Results?
Investors looking to improve real estate cold calling results should focus on a few core principles:
- Work fewer markets to build local expertise
- Use a consistent cold calling script
- Track calls, leads, and contracts separately
- Call motivated sellers back the same day
- Capture price expectations during the first conversation
Depth and consistency consistently outperformed sheer call volume.
Takeaways for Real Estate Investors
- Cold calling conversion rates improve with strict lead qualification
- Clean data reduces wasted dials and improves efficiency
- Low seller price anchors often signal faster deals
- Fast follow-up dramatically increases close rates
- Focused markets outperform multi-state sprawl
Cold Calling in Real Estate: Frequently Asked Questions
Does cold calling still work for real estate investors?
Yes. When supported by clean data, a clear script, and fast follow-up, cold calling remains an effective way to generate motivated seller leads.
How many cold calls does it take to get one real estate deal?
In this case study, roughly 5,500 calls produced 32 qualified leads and 8 contracts. Results vary by market and process.
What is a good cold calling conversion rate in real estate?
Many investors see one to two deals per 50–70 leads. This campaign outperformed that benchmark due to strong filtering and follow-up.
What makes a real estate cold calling lead qualified?
A qualified lead owns the right property, shows motivation to sell, and has a near-term timeline.
Why do some cold calling campaigns fail?
Poor scripting, weak follow-up, messy data, and working too many markets at once are the most common reasons.
