Sunday, April 14, 2024

expired listings

    Have you ever watched those YouTube videos of agents making cold calls, FSBO calls, and expired listing calls? 

    Most of them use the same script or at least parts of the same script. 

    “I’m just calling to see when you’re going to be interviewing agents for the job of selling your home.”

    You could build a drinking game around that one line, shared by almost all the video agents I watched.

    Does this script, in the hands of thousands of agents, in any way raise the bar? Or does it perpetuate the myth that “all real estate agents are alike?”

    Dump the scripts and dialogs and come up with a way to make this conversation authentically yours.

    How to approach your expired listing homeowner

    First, don’t assume, as so many do, that the homeowner with an expired listing is “angry” or “frustrated.” You don’t know why the listing expired. You don’t have any idea how this person is feeling.

    Maybe he or she is elated that the home didn’t sell. Maybe the agent is her Aunt Maggie, and she could never be angry with her. Maybe they’re chalking the failure of the home sale up to the market and feel it’s nobody’s fault.

    Go in with guns blazing, telling the homeowner that you know exactly how they feel and that “there are only three reasons a home fails to sell” is for other agents. You’re smarter than that. You are better than that.

    The goal of this first conversation is to set an appointment to meet with the homeowner to find out exactly what happened. Only when you know can you provide a solution. Guesses don’t count.

    And, yes, you should empathize. But empathize with what you actually know is happening: 


    The Expired Listing Postcard Campaign is shown above. To see more, Click HERE.

    This homeowner is being hounded by real estate agents trying to get a listing.

    And, yes, you want the listing too, but you aren’t about to add to the cacophony and annoyances of being called all day, every day, by people spouting the same “scripts,” offering the same solutions without knowing what the problem is. 

    Bullet points to cover over the phone

    In your own words, start by saying you understand that they’re being beaten up by real estate agents who all say the same thing, give the same promises and assume to know how they’re feeling.

    Apologize on behalf of your colleagues and explain that some will go to any lengths to make a buck.

    Then, admit that you’d like the listing, too, if and when they decide to sell. But you can’t begin to offer a solution until you understand what happened with the previous listing.

    If you have a particularly awesome testimonial that speaks to your ability to sell expired listings, include it in your conversation.

    If you don’t have a testimonial, resist the urge to lay down your resume or any stats you think are particularly impressive.

    You want an appointment, and the way to get one is by being human and by being empathic.

    Check back next month when we’ll take a look at how not to approach the expired listing and whether or not to visit, in person, the homeowner with an expired listing.


    PLUS: When you have time…below are some marketing tools to help support your success.

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    2. The Free 12-Month Done-For-You Strategic Marketing Plan

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    4. The Free Interactive Real Estate Business Plan

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    5. The Become a Listing Legend Free eBook 

    This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

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    6. The Take a Listing Today Podcast

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      January is a productive time of year for listings that have expired. And in most cases, these home sellers are still motivated to sell, have a sense of urgency, and are in need of a new plan.

      What a great combination for the right agent to take a listing and better still – create a client for life, but you have to move fast.

      Your strategic plan of attack 

      During the first days of January, contact every expired in your extended area by sending a postcard from the Expired Series every 5- 7 days. Then follow that up with a phone call. This strategy is so successful because it’s timely. Most of the competition will not have implemented something so quickly.

      Remember to approach sellers of Expired listings with patience and most importantly – a real plan to get their home sold. Good people skills and the ability to bring real solutions to the table will make you the front-runner.

      Now, there’s no doubt you’ll run into all kinds of people. Some will jump at the opportunity to get their home sold, while others will want to wait. And many will take some real salesmanship to prove that you’re the agent for the job.

      How you react to all three will determine your success or failure at not just getting the listing – but getting it sold.

      Get their attention

      Continue to pull the new Expireds in your market, at least twice a week for the coming months and send them a postcard. Use the back to announce that you have a highly effective tool, “The Merchandising Review” that will help determine what went wrong with their home sale and ensure it doesn’t happen again.

      When you receive inquiries, explain the Merchandising Review allows you to make a comprehensive analysis of whether their home is salable in today’s market. Then schedule a 20 minute time to meet with them to go over the Review.

      Walk them through each item and negotiate the issues that might keep the property from selling.  Correct these issues, and ask if they would allow you to show them your marketing plan.

      Educate & inspire

      The next step is to get the listing is priced right and make sure the seller knows you’re ready, willing and able to meet their needs, but that they play a role in the successful sale of their home as well.

      The Top Five Common Mistakes Report is a great tool for helping you to educate your seller regarding pricing their property right. Share this and other valuable Free Reports with your seller to inform and inspire them.

      Another great opportunity to display your expertise in action is to invite your expired sellers to a weekly conference call hosted by you on the topic of selling listings fast and for the most money. Or put together a nice presentation on how you will market their home differently, and drop it off at their house.

      The Make Sure it Doesn’t Happen postcard from the Expired Series is available in the postcard section.

      Consider these great ideas for landing the expired listings in your market over the next couple of weeks! Then make these strategies a monthly habit to continue your success.

      Start your campaign now by pulling the current Expireds in your market and sending out the Make Sure it Doesn’t Happen postcard from the Expired Series.
      Then set a reminder on your phone for your next mailing seven days from that date.

      Need help targeting Expired listings? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are Free killer tools to help your success this year!

      1. The 12 Month Done-For-You Strategic Marketing Plan – NEW 2020!

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

       

       

      2. The Free One-Page Real Estate Business Plan – NEW 2020!

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      4. Become a Listing Legend Free eBook 

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

       

       

       

      5. The Free Online ROI Calculator

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