Commercial real estate cold calling scripts for owners and tenants
Commercial owners and tenants make decisions on long timelines: a lease that ends in a year or two, a loan that comes due, a partnership that wants to sell by a certain date. Most cold calls arrive at the wrong time, so the goal is rarely a listing or a tour on the first call. It's learning their timeline, offering market information they can actually use, and earning the right to call back when the decision gets close. The brokers owners remember are usually the ones who kept good notes and brought something specific each time.
Who you're calling
Owners of office, retail, industrial, and multifamily properties, such as individual investors, family partnerships, and smaller investment firms, plus business owners and operations leads who lease space. Owners care about occupancy, net operating income, and when to sell or refinance. Tenants care about cost, location, and not being caught short when a lease ends. Both are tired of brokers who open with 'Are you interested in selling?', claim to have a buyer they don't have, or know nothing about the property.
Work it out from your own connect and meeting rates with the free cold call calculator.
Script 1
Investment property owner
Use when: You're calling the owner of a specific building in your market, usually found through public records, and the property isn't listed for sale.
- You
Hi [Name], this is [Your Name] with [Brokerage]. I focus on [Property Type] in [Submarket], and I'm calling about your building at [Address]. I'm not calling with a buyer. I'd like to ask a couple of questions about how you see the property. Is now okay?
- Prospect
It's not for sale. I get these calls every week.
- You
I believe it. I'm not asking you to sell. I'm trying to understand how owners in [Submarket] are thinking right now. How is occupancy holding up for you?
- Prospect
It's fine. We've got one suite that's been empty a while.
- You
How long has it been vacant, and is it getting tours?
- Prospect
About [Months] months. A few tours, nothing serious.
- You
That's useful to know. I've been tracking [Comparable Deals, e.g. recent leases for similar suites nearby], and I can walk you through the terms and improvements it took to get those done, at least what's been reported. Would that be worth a short call?
- Prospect
Maybe. What's in it for you?
- You
Fair question. Owners who know me are more likely to call me when they decide to lease, sell, or refinance. I'd rather earn that than ask for it. Would Tuesday or Thursday work for 20 minutes?
- Prospect
Thursday. Keep it short.
- You
Twenty minutes on Thursday at [Time]. I'll send the lease comparables beforehand so you can look them over first.
Script 2
Tenant with a lease ending
Use when: A business leases space in your market and its lease is likely to end within the next year or two, based on public information, your notes, or an earlier conversation.
- You
Hi [Name], it's [Your Name] with [Brokerage]. I work with businesses leasing [Property Type] space in [Area]. I'm calling because I understand your lease at [Address] may be coming up in the next year or two, and I wanted to ask how you're thinking about it.
- Prospect
We'll probably just renew. Moving is a pain.
- You
That's true, and renewing is often the right call. Can I ask whether the space still fits the way you work, with headcount, parking, and layout?
- Prospect
It's a bit tight. We've added people, and half of them are hybrid.
- You
That's a common mix right now. Have you talked to your landlord about renewal terms yet, or is it too early?
- Prospect
Not yet. I figured I'd wait until they reach out.
- You
That's one approach. Some tenants start earlier so they know their options before that conversation, even if they end up staying. I can put together a short survey of what's available nearby at your size and what similar spaces are asking, so you're not negotiating blind. I'll also explain exactly how I get paid, so there are no surprises.
- Prospect
We're not committing to a broker.
- You
You don't need to. Look at the survey first and decide if it's useful. What's the best email, and should anyone else see it, like your CFO or office manager?
- Prospect
Send it to me. I'll share it with our COO.
- You
Will do. I'll follow up a week after you get it to see if you'd like to talk it through.
Script 3
Nearby sale or lease
Use when: A building near the owner's property just sold or signed a notable lease, and you want to open a conversation using that event.
- You
Hi [Name], this is [Your Name] with [Brokerage]. I'm calling a few owners near [Sold Property Address] because it just [Event, e.g. sold to a local investor], and owners nearby usually want to know what that means for them. Did you hear about it?
- Prospect
I saw something. Did you handle it?
- You
[Honest Answer, e.g. No, another firm did.] Either way, I've looked at what's been reported about the deal. Out of curiosity, how long have you owned your building?
- Prospect
Since [Year]. We're long-term holders.
- You
That makes sense. Is there anything coming up, like a loan maturity, a big tenant renewal, or a partner who wants out, that could change that?
- Prospect
Our loan comes due in [Year]. We'll deal with it when we get there.
- You
Understood. Whether you refinance or sell, the first thing most owners want is a clear sense of what the building is worth today. I can put together a broker opinion of value based on recent sales and current rents, with no cost or obligation. Would that be useful ahead of [Year]?
- Prospect
Maybe closer to the time.
- You
That's fair. Would it be all right if I checked back in [Month], and in the meantime sent you notable sales in [Submarket] once a quarter? If they're not useful, tell me and I'll stop.
- Prospect
Quarterly is fine.
- You
Thanks, [Name]. I'll send the first one next week.
Voicemail script
Hi [Name], this is [Your Name] with [Brokerage]. I focus on [Property Type] in [Submarket], and I'm calling about your property at [Address]. I've put together [Specific Item, e.g. recent lease comparables for suites like your vacant one], and I thought you might find it useful. No obligation. My number is [Phone]. Again, [Your Name], [Brokerage], [Phone].
When someone else answers
Owners are often reached through a property manager, an asset manager, or an assistant at a family office. Be direct about why you're calling: 'Hi, this is [Your Name] with [Brokerage]. I'm a broker focusing on [Submarket], and I'm trying to reach whoever makes decisions about [Address]. Is that [Name], or someone else?' If the property manager says they handle broker calls, treat them as a real contact: ask what the owner cares about and offer to send something they can pass along.
Commercial Real Estate objections and responses
- "It's not for sale."
- Understood, and I'm not asking you to sell. Most of the owners I talk to aren't selling. Would it be useful to hear what's happening with sales and leasing near you, so you have the numbers if your plans change?
- "I already have a broker I work with."
- That's good, and I'm not asking you to drop them. If there's ever a property type or an area they don't cover, or you want a second opinion of value, I'd be glad to be a resource.
- "Do you actually have a buyer?"
- Not a specific one, and I won't pretend otherwise. What I can tell you is who has been buying [Property Type] in [Submarket] lately, from what's been reported. If you ever want to test the market, that's where I'd start.
- "Our lease isn't up for years."
- That makes sense. The search and the negotiation usually take longer than people expect, so it helps to start early. Would it be useful if I checked in about [Months] months before you'd need to decide, with what's available at that point?
- "Just email me."
- Happy to. To make it worth opening, would comparable sales, lease rates in your building class, or what's available for tenants your size be most useful?
More responses in the objection library.
Tips for this industry
- Know the building before you dial: its size, type, major tenants, how long the owner has held it, and any public loan or sale records. One accurate detail earns more time than a polished opener.
- Ask about timelines, not intentions. 'When does your loan come due?' gets a real answer more often than 'Would you consider selling?'
- Bring something specific to every call: lease comparables, a recent sale, or a survey of available space. 'Just checking in' gives an owner no reason to stay on the phone.
- Log every date you hear, such as lease expirations, loan maturities, and partnership changes. In commercial real estate, the call that matters is often the follow-up a year or two later.
- Treat property managers as allies. They know the building's real issues and often influence which brokers the owner hears from.
- Practice the 'It's not for sale' opener with AI roleplay until your next question comes out naturally. Owners decide within seconds whether you're worth another minute.
Questions
Should I call the owner or the property manager?
Both, for different reasons. The owner makes decisions about selling, refinancing, and leasing strategy, while the property manager knows day-to-day issues like vacancies and tenant problems. Start with whoever you can reach, and be honest with each about why you're calling.
How do I find out when a tenant's lease expires?
Ask. Tenants often share it when the question is tied to something useful, like what's available nearby. Some lease data shows up in commercial databases or your own deal notes, but confirm it with the tenant rather than assuming.
How often should I follow up with commercial property owners?
Often enough to stay useful, which might be a quarterly market update plus a call when something relevant happens, like a nearby sale. Agree on the rhythm with the owner, and stop if they ask you to.
What's a good goal for a commercial real estate cold call?
A clear next step: a short meeting, permission to send a market update, or a date to call back that lines up with their lease or loan timeline. A listing or a tenant assignment usually comes after several useful conversations, not the first one.
Make the script sound like you
Practice it against AI prospects until it flows. 250 free credits, about 25 minutes of practice, no card.