Are you trying to gain more listings in today's market? Are you a proactive agent that takes the initiative every day and calls sellers of expired listings? Did you know that about 50% of all residential property listings sell with the second or third listing agent? With pricing becoming the most essential issue when taking a listing, it is imperative to get your sellers priced correctly as soon as you take your listings in order for the property to sell during your listing agreement and not go expired. Remember, these sellers certainly want to sell and if a listing goes expired, the likelihood is that the sellers will list with a new agent and not try and sell the property For Sale By Owner.
Well, here are some suggestions when trying to contact sellers of expired listings and to help you get their attention:
- Pull the Expired Listings from your MLS on a daily basis. Put this job into your business plan every day.
- Print out the expired listing and make notes on all of the problems that you see on the MLS printout such as: only a few pictures take and not up to 16, little to no property remarks, no property room measurements, no directions, no broker remarks, less than 3% commission to the buyer's agent, no school information, community details, etc. (Take a red marker and note all of the information that needs to be corrected on the listing. When you later show this to the expired seller, they will appreciate the time that you have taken to point out the problems with their MLS listing that needs to be corrected)
- Try to look up the available phone numbers with the do no call list in order to contact the expired sellers as early as possible. It is important to call the sellers as early as possible, so you will be the first or one of the first agents to contact them.
- Print out the expired listings that do not have available phone numbers. These are the expired listings that I focus on, because I delivery my pre-listing presentation and marked up expired listing MLS printout directly to their door. Most agents will not go to the expired sellers' homes, and this will give you an advantage over 90% of Realtors. You will also surprise the seller, and he/she will remember your face and presentation. Your chances of getting a listing appointment will increase dramatically.
- Put together a follow-up chart or create an excel document in order to keep track of the expired listings and how you are following up with them in order to get a listing appointment with them and ultimately get the listing agreement signed.
Remember, the more doors that you knock on, the more chances of increasing your listing inventory. These sellers will list again with another real estate agent. You want to be the first one that applies for the job. What better way to make you stand above the competition than meeting with them face-to-face and offering them your advice and noting the problems with their expired listing MLS printout that all Realtors and buyers see when looking for property either on Realtor.com or with a Realtor.
Persistence is a virtue, and all agents must take the time to implement a pre-listing presentation and drive to as many expired sellers as possible. With many listings going expired in today's market, you want to be that second or third agent that comes to the home and gets the seller to price their property where it needs to be. Remember, the expired seller probably had his/her home on the market for at least 4-6 months. They certainly will be more willing to lower their price and listen to your suggestions.
It is time to start taking more listings with confidence! Remember, practice makes perfect and you will increase your listing inventories with properties that will have a better chance of selling. Good luck!
Michael With Web Email Flyers
Send Thousands Of Property Web Email Flyers To Local Realtors For As Low As $20.00. Impress Your Sellers, Receive More Showings On Your Property Listings, & Dramatically Increase Your Commissions!
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