Old School vs. New School Real Estate: What the Data Shows

When it comes to real estate, there’s always been a debate about whether old-school methods like cold calling or open houses still work in a world dominated by CRMs, workflows, and social media. Greg Harrelson, one of the sharpest minds in the business, argues it’s not about choosing one over the other but combining the best of both worlds.

To help settle the score, let’s dive into the numbers. What does the data actually say about old-school tactics versus new-school tools? Spoiler: there’s room for both—but only if you use them the right way.

1. Cold Calling and Circle Prospecting: Does It Still Work?

Let’s start with the classic: cold calling and circle prospecting. These methods are the bread and butter of old-school real estate, and while they might not feel as shiny as running Facebook ads, they’re still pulling their weight.

What the Numbers Say:

The average success rate for cold calling is between 1% and 3% (Calling Agency).

Agents who make 20 cold calls daily see an annual success rate of 10-20% (Calling Agency).

Now, those percentages might seem low, but think of it like this: every call is a shot at building a relationship. Even if someone says “not right now,” that connection could pay off in six months or even a year.

How to Enhance It:

Greg suggests using digital tools to make your cold-calling game smarter. Instead of dialing at random, use a CRM to focus on leads that have shown some interest—maybe they’ve been opening your emails or visiting your website. Pairing old-school hustle with tech-savvy targeting is a winning formula.

2. Workflows and Autoresponders: When Automation Goes Too Far

Workflows and autoresponders are a gift from the tech gods when it comes to saving time. They help you follow up with leads, stay organized, and nurture relationships without constant manual effort. But here’s the thing: if you rely too heavily on automation, you risk sounding like a robot.

What the Numbers Say:

Automated email campaigns are 81% more effective at nurturing leads than manual efforts (HubSpot).

But here’s a twist: leads contacted by phone within the first hour of showing interest are 7 times more likely to convert (Forbes).

How to Enhance It:

Greg says, “Automation should be a conversation starter, not the whole conversation.” Use workflows to handle basic stuff like sending a thank-you email after someone downloads a market report. Then, follow up with a personal call or text. Leads will notice the effort.

3. Open Houses: Do They Actually Work?

You’ve probably heard arguments for and against open houses. Some agents swear by them, while others think they’re a waste of time. So, what does the data say?

What the Numbers Say:

Only 4% of buyers found their home through an open house or yard sign (US News).

Yet, 72% of agents believe open houses are still effective (World Metrics).

So, are open houses a waste of time? Not necessarily. They’re great for creating buzz and meeting potential clients who might not be ready to buy or sell right now but could be in the future.

How to Enhance It:

Greg recommends combining open houses with new-school tools like virtual tours and social media. For example, create a Facebook Live event during your open house to reach people who can’t make it in person. Bonus: the live video stays on your feed, so it keeps generating interest even after the event.

4. Just-Listed/Just-Sold Postcards: Are They Outdated?

Sending out postcards might feel a little old-school, but don’t write them off just yet. There’s something about getting a physical card in the mail that sticks with people.

What the Numbers Say:

Direct mail has a response rate of 4.9%—higher than email’s average of 1% (Data & Marketing Association).

73% of consumers say they prefer direct mail for brand communication because it feels more personal (Epsilon).

How to Enhance It:

Pair your postcards with digital tools. Add a QR code that links to a virtual tour or a landing page where recipients can download a neighborhood market report. Once they’ve signed up, use your CRM to nurture them with email workflows or personal calls.

5. Blending Tactics: Why Balance Is Key

Here’s the bottom line: it’s not about picking sides. Old school vs. new school isn’t a fight—it’s a partnership. The data shows that when you combine the personal touch of traditional methods with the efficiency of modern tools, you get the best results.

Greg’s Take:

“It really doesn’t need to be ‘old school’ vs. ‘new school,’” Greg says. “It needs to be ‘old school-enhanced.’ The way we connect with people hasn’t changed—it’s just the tools we use that are different.”

Why Personal Connection Still Matters

During the pandemic, many agents leaned heavily on technology to stay connected with clients. But here’s the thing: people still crave human interaction. Studies found that face-to-face interactions were more beneficial for mental health than digital communication (American Journal of Health Promotion).

Even now, as technology dominates, buyers and sellers want to feel like they’re working with someone who cares. Picking up the phone or meeting in person can make all the difference.

Final Thoughts: The Data Doesn’t Lie

The numbers are clear: traditional methods like cold calling and open houses still have a place in real estate, but they work best when paired with modern technology. Whether it’s enhancing cold calls with data from your CRM or boosting open house attendance with a killer social media campaign, the key is finding a balance.

As Greg puts it, “The agents who win are the ones who aren’t afraid to pick up the phone AND use the latest tools. It’s not one or the other—it’s both.”