Most of your real estate markets across North America are experiencing historical low listing inventory levels. Other markets across North America have good inventory but the agents are struggling to get good saleable house listings in their pipeline. So what if I told you I finally found the secret to getting listings and getting good listings in any market condition in North America? I want to show you how to find those listings in your marketplace which is a really important topic, and one that some agents are scared of…
THE SECRET?.......EXPIREDS.
Some of you are already thinking about not reading the blog post, but I don’t want you to miss out on a lead source that many agents are simply too afraid to use because they don’t know how!
Why Agents Don’t Work Expired Listings...
1. Their fixed/ego mindset tells a story about expireds! Some agents even get mad and blame those agents who do work expireds!
2. Their fixed mindset stops them … Fear! Because they don’t know what to say, and the agent takes the rejection personally.
Remember these are clients who need to be served!
They already own a house.
They already want to work with an agent. They are willing to pay our fees. How could we not want to work with these clients?
When you call expireds you are calling someone who has an unmet expectation and who now has a rise in an emotion because of the whole scenario. You need to understand when you work with expireds and they are upset, it isn’t about you! Just put yourself in their shoes, and use some of these tips…
How to Effectively Work Expired Listings...
1. How Do You Win? Make a choice: You can work all of them or you can cherry pick the ones you want. This means you see the opportunity. You work with the expireds in the areas you know and can bring value to.
2. Use the Right Engaging Questions. Follow a script similar to these examples….
“If I brought you an offer yesterday to sell your home with terms that are desirable, where are you moving to?”
“If I sold your home in the next 30 days would you still like to move?”
“So, if I could, would you be willing to meet with me for 20 minutes to show you how we sold 31 homes? 10 that were previously listed like yours with other agents and sold for 99% of list price in an average of 23 days, and every one of them gave me a five-star review. Would it be worth 20 minutes of your time?”
“What’s important to you in the next agent you choose?”
3. Create a Case Study Marketing Piece Similar to This:
-Picture of the house with all the details (address, previous number of listing agents, days on market, etc.)
-Listed by your team (after expiring)
-Executed our marketing plan
-13,000 online views
-92 agents at preview
-173 buyers at open house
-3 offers
-99% of list price
-Sold in 21 days
-5 Star review
What are the 3 biggest stumbling blocks / mistakes agents make along the way?
1. Not following up enough on expireds that you hadn’t reached on the first try. Recommend you call, door knock and mail for a combined 6-9 touches.
2. Not role playing the scripts and dialogues to build rapport and demonstrate your value.
3. Not developing a mail system sooner to drip out to them and get them to call you.
What are the 3 top tips to someone starting out on Expireds?
1. It costs nothing at first, so you can start tomorrow. Just do it!
2. Role play and know what to say.
3. Come from a position of helping and serving because these people need an agent like you and I who can get the job done!
Take the time and look back at the expired listing. Remember you don’t have to work with all of them, cherry pick the ones you want! Do you have it in your head and do you have it in your heart to serve those clients?
There is your secret to listing success in 2017. Only one thing stopping you is a little work. I dare you to give it a try and add it to your marketing strategies this year.
Strength and courage,
Wade
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