I haven't ever had much luck with telemarketing. When I was in college, I worked with Century 21 parttime as a telemarketer. They had a call center at the back of the office with about 15 of us on the phones during business hours. We coldcalled from the phone book on an automatic dialer.
Joshua, I would love to know more about this. I am trying to find a way now to mass generate local (and of course national) business. There is a company in South Florida using an auto dialer to call every home owner around, we have researched that and may try it in the next month or two. WHO exactly were the telemarketers calling? Borrowers in a certain demographic? Would love any more info you have on this, as I just launched a big local site. www.JacksonvilleShortSale.com that I need to get mass traffic to. The internet can only generate so much, as I dominate locally online anyway. I am also exploring TV and may be producing a commercial, but I already have a call center in house to use for telemarketing for short sale leads!
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