Warm Market vs Cold Market

Warm market. Cold market.

Every agent that steps foot in this industry has heard these four words before.

What are they exactly?

For the purposes of disclosure:

Warm market - Family, relatives, friends, colleagues etc.

Cold market - Complete strangers (Imagine walk-in customers into retail shops)

So, the age old question remains: Which market should an agent approach first?

Quite honestly, it really depends on how strong your social circle is.

That means:

Warm Market - Approach if this circle of yours is very supportive of you and will help you in anyway.

Cold Market - If your warm market turns a cold shoulder....approach the cold market.

You may be thinking too....how do I approach cold market?

Before COVID, there used to be events like road shows and seminars for agents to approach strangers and bring them into the events.

Now with COVID, digital marketing and leads agencies are the ones creating the awareness for agents. 

So if the cold market is your optimal option, no harm talking to these digital marketing personnel. Hear them out, listen to their offers, and then decide from there to see what suits you.

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