Remember that old Paul Maisson wine ad?  The tagline was "We'll sell no wine before it's time."'  This was, of course, parodied in numerous comedy skits, where the comeback was "It's time, it's time!"  However, anyone who's ever made homemade wine knows that fresh made wine is virtually undrinkable; hence, the wisdom of the famous line...

This has application when considering calling expireds from the MLS hot sheet.  It's tempting to call as soon as the time is up.  Expireds are hot prospects who want to sell.  They are low handing fruit.  But, is it time to call as soon as they hit the list?

The problem is timing. Take careful note here, most agents are picking the fruit before it's ripe. Repeat after me, "I will pick no fruit before its time." What happens when you join hundreds of your fellow agents all jumping at and reaching for the same apple? You get trampled. You get frustrated. You get lost in the crowd.

What's worse, you incur the wrath of the homeowners who wanted to sell their home quickly but didn't. They may be angry and feel that the last agent didn't perform.  They have that bad sour apple taste in their mouth.  They need to get another agent to do the job but the timing isn't right.  Some 15 to 25 agents a day may be calling so a bunch of agents are jumping, reaching and clawing, for one apple that's not ready to be picked or enjoyed...yet.

Expired listings are a perfect target for agents because these are people who've proven that they want to sell and move. Actually, I believe if you approach expired listings the right way, you can make a darn good living on them and them alone. The key is to WAIT! Wait and let the fruit ripen before you start picking. Let homeowners get their bearings back. Let the wound heal.  Then make your call.

For additional information and guidance on this topic we have posted an article on our website entitled "Picking the Ripe Apple" for you to review.

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Bob Corcoran

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8 Comments on Pick No Fruit Before Its Time

SEP
09
2009
1,421,366 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The problem lies when  we know is an apple and the public knows is an apple but the owner thinks is an exotic fruit!
5:23am • #1

Well Bob, another timely post as I hunt through the night hours. I've been checking out several expireds, along with FSBOs, and your comments about "letting the fruit ripen" helps me see many of the owners in a whole new light. A little more understanding, a lot less freight train. Thanks.
5:23am • #2
234,066 Points 9 Featured Posts Hit Router

Bob, I'm happy to see someone post about using this approach.  I keep saying I'm going to send letters to expireds, but haven't done it yet.  Anyway, my point is, everyone always says you've got to jump in as quickly as possible...I never wanted to use that particular approach.  I always thought that if I do decide to try to obtain expireds I would give them some time to get through all of the "junk" mail they are going to be bombarded with, take a moment to breath, and then if they haven't listed with someone, I would begin a campaign...

Thanks for the post, it makes total sense.  :)

Chanda panda
5:44am • #3
362,826 Points 5 Featured Posts Attended Rain Camp Called Shot Master

I have been in an office where one agents starts calling expired at 6:30 am. I never could subscribe to that but the agent made a good living. Personally I would be very unhappy with a phone call at that time. I like the way you think. Great analogy.
6:02am • #4
206,188 Points 3 Featured Posts Outside Blog Attended Rain Camp

Everyone has been told all the tricks of working expireds and your point is well taken.  They are bombarded with free popcorn, Fed-exes etc.  My favorite approach is to be talking to them at their opens and giving them free advice.  Handwritten letters are another.  Good post, thanks!
6:11am • #5

Some agents make a great living working expired listings. Some sellers need time to figure out they don't have the exotic fruit that Fernando referred to. Good analogies and good post.
6:14am • #6
143,987 Points 3 Featured Posts

Thanks for all of your nice comments. While some expireds are ready to be picked right away (or may even have another agent lined up), many need a little time. This approach may lose a few prospects but gain more in the long run.

Fernando, you're right. Some sellers do think their home is the TajMahal.  They may need a little time before you go in & set a more realistic price.

Sherry, in time, there will be many expireds who are ripe for picking.

Chanda Panda, do send those letters but wait a while & when you do send them, make them stand out from the crowd.

Dick & Dixie, not too much fruit wants to be picked at 6:30 am! Some people are ready for a new agent when the listing expires but most people are overwhelmed.
6:18am • #7
143,987 Points 3 Featured Posts

Thanks for your comments, Marcia & Peggy. Anyone who knows me knows I am high energy & want things to happen now! But being respectful of people is an often unused key to success. We want the new clients, but don't want to be theambulance chasers of real estate by rushing in on fresh expireds.
6:24am • #8


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