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Expired Listing Tip: How to go against another agent

By
Education & Training with Borino Productions

"I just spoke with an Expired and she said they are planning to list next week. But they are going with an agent who was referred to them. I told her I would still call her next week, but what should I say? How can I get an appointment?"

Going up against an agent who was recommended to the seller is challenging. But still... It will come down to who the seller likes and trusts more. The referred agent does have a head-start but the race has not been decided yet.

expired listings competitionHere is how to handle the situation and nail the listing appointment in three steps.

STEP 1: DOV, Confidence and Hook
"I appreciate you want to list with an agent who has been referred to you. There is always a bit more trust in someone who comes recommended. But what if I am a better agent?"

Notice the "bit more trust" -- I'm indirectly downgrading the level of trust.

The "better agent" question is Demonstration of Value - DOV. An exhibition of confidence, but without being too cocky or arrogant. And it introduces possibility and curiosity.

STEP 2: Answer
Let them answer. DO NOT SAY anything more. It's fine if the seller is quiet and ponders the question. It will create tension and that's OK -- just let the question hang. The seller will answer eventually, maybe with something like "Every real estate agent can say that."

STEP 3: Appointment
"Well, Jane, you're right. But really, what's the worst that can happen? We'll meet for a few minutes and if I'm not the right guy for the job I'll be the first one to tell you and not waste both of our time. And you will feel confident the other agent is a better choice. BUT maybe not. Who knows.

It won't hurt to at least get a second opinion.There is only one way to be certain and it can potentially mean hundreds or even thousands of dollars in your pocket.  I will never pressure you but that's worth a few minutes, don't you think?"

Follow the script with smile and confidence, set the appointment and deliver a killer listing presentation. Focus on WHY they're moving, what are the benefits (and core driving emotions). Have fun, be passionate and get a great listing!

Borino
Expired PLUS

Comments (11)

Anonymous
Ron Aguilar

I agree with the Demonstration of Value. Never assume and never stop until it is listed with the other agent

Jan 07, 2012 12:02 PM
#1
Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

We love working expired listings and why not.  You KNOW they want to sell and you know what it WON'T sell for.  It's amazing how many agents will not take the time to focus on a segment of the market that has already demonstrated the willingness to sell.

Have fun at Yoga!

Cyndi

Jan 07, 2012 12:50 PM
Gina Chirico
Lattimer Realty - Fairfield, NJ
Real Estate Agent - Essex County, New Jersey

Borino

As always...great advice.   The hardest thing to get through is that silence.....whether it be when speaking with a potential seller, presenting an offer, etc. 

Jan 07, 2012 01:07 PM
Borino - The Real Estate Coach
Borino Productions - Falls Church, VA

Yoga was great, Cyndi! :)

Yes, expireds are by far the easiest leads/listings out there.

I know, Gina -- the silence may SEEM excruciatingly long at times, doesn't it? But it WORKS!

Jan 07, 2012 01:21 PM
Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

I am a big yoga fan myself and have done yoga on a regular basis since my years (many long ago) as a college swimmer.  Hatha yoga is the type I have used.    Your point about confidence is an important one.  I think confidence is what helps us get through all the rejection and rudeness we face on a daily basis. Ego can get in the way of confidence.Ego is believing you are the best, Confidence is knowing you are in my opinion.  Now saying that "being the best" does not mean the best in all situations, but the best in knowing what you have to do and then in acquiring the right skills. The reality is no matter how good you are there is someone else who is better for almost all people of the earth.  Know who you are and be willing to be better is a recepie for ultimate succes

Jan 08, 2012 02:59 AM
Nancy Pav
Century 21 Redwood Realty - Ashburn, VA
Nancy Pav, Your "GottaHave" Realtor

Thanks for the great dialogue.  I plan on using it.

Jan 08, 2012 03:53 AM
Bill & Fran Jenkins
Nevada Realty Connection - Henderson, NV
Your Home Selling Team!

Hi Gina,

I understand what you mean. The silence between the question and answer is a good thing! It means it was a great question and they are thinking about their answer. Too many times agents get nervous and answer their own question to break the silence. By waiting for their answer it is actually a sign of respect that you are giving them the space to think carefully about their answer. When you change your mindset about the silence then it will no longer be uncomfortable.

Jan 08, 2012 04:21 AM
Jairo Arreola #SOLDBYVETERAN
PRG Real Estate - San Jose, CA
VA Home Loan Specialist - SF Bay Area

Thanks for the info. I will try to use them when I contact some expired's this week.

Jan 08, 2012 10:20 AM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

Many times that "friend referal" is a distant realtive in the business part time. Always push for the in person appointment.

Jan 08, 2012 01:33 PM
Brian L. Sirota, Esq.
Bristar Realty (Realtor/Attorney) - Orange, CA
For Solutions: (714) 501-7660

Borina, few agents have a real handle on seller psychology....you get it!   Brian

Jan 15, 2012 11:26 AM
Sally Lawrence
Advantage Real Estate - Tehachapi, CA
Broker, CHS, e-Pro, SFR, REALTORĀ®

I've not really paid a whole lot of attention to expireds because I haven't really had time to focus on them yet.  I do try to pay attention to what's going on in my own neighborhood though.  I just wrote a blog post here about my recent experience with an expired listing.  In this case, I would have been much happier if I at least had one competitive agent.  What do you think?

Jan 21, 2012 05:55 AM