Expired Listings - Bottom Feeder? I think Not!
I know this has been reshared SIX times since it was first published in January 2016, but it is one of those posts which cannot be reposted too many times in my opinion. As you are planning for 2017 is prospecting for expireds in your business plan? After you read this post you may want to rethink your answer. Come from contribution and start making those calls.
Expired Listings - Bottom Feeder? I think Not!
For those of you who do not know, Real Estate Agents that call on expired listings are many times referred to as 'Bottom Feeders' by their fellow agents. Such an ugly term. Let's get this stated up front...I do call expired listings as part of my lead generation! The term and the attitude towards calling expired's bothered me in the past. It no longer does. In fact I find it rather fascinating.
If a home home has expired the very first item you know, as a Realtor®, is that the owners want, or wanted, to sell their home and it did not. I am a Realtor® who's business is to sell homes. There are more reasons why it may have not sold than what is possible to list. A
few possibilities being: Over priced and owner unwilling to reduce price - Owner unaware home over priced due to poor communication from listing Realtor® - Listing Realtor® did nothing more than take the listing and enter into MLS in hopes it would sell - Near-bye construction may turned area into eye sore - Tenants made the home virtually impossible to show - unforeseen personal issues with seller. This list goes on and on.
What does not go on and on is the fact the only way to find out is CALL and speak with the owner. Just the fact that it HAS expired most of the time shows a lack of communication between owner and agent. Not all the time. Certainly in my experience most of the time.
I am never embarrassed to offer my services. Yes this is how I make a living. I know I offer much more than the typical or average agent. 'Communication' kudos are a common thread thru out my testimonials. Why should someone not be offered a better service than what they may have just experienced? If they plan on listing with same agent I politely bow out and tell them how much I appreciate their time. If they want to keep it off the market for a while I ASK if I may keep in touch. If they want to engage in 'bad mouthing' another agent I politely decline and tell them I would rather focus on the advantages 'I' can offer in selling their home.
Here is the difference. And do keep in mind this difference can be said of any portion of our Real Estate business. The 'Difference'? How are these calls handled? Are you a professional or bully? Strictly in it for the dollar? Or do you sincerely care that this owner wants to sell their home? The 'difference' in any part of our business is being a professional! I have been to credited classes where the instructor encourages sending cards to divorcees or recent widowers. This would not be my 'forte' and yet I certainly would not criticize someone who is able to help this group of people out during a difficult time. Door knocking can certainly lead to uncomfortable or inopportune moments. How an agent handles those moments makes all the difference in the world.
My best answer so far to all the animosity towards someone who calls expired's is the possibility that these Realtors® have lost a listing due to lack of performance, communication, marketing or any combination of those. They want to hold someone else responsible.
Do not let the negativity of others influence your business! this is stated very often, in classes, motivational seminars, office meetings, etc, and yet sometimes this advice is more difficult to follow than others. I will continue to call and contact expired's especially when receiving comments such as the one below from my most recent 'expired' listing.
You are so up on everything! I wish we'd had you when we sold our log home in Rathdrum!!!
Are you interested in selling your Sandpoint Idaho home. Contact me as your local North Idaho Real Estate resource.
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Mark Don McInnes
208 255-6227
"Your local North Idaho Realtor for Life, everyday - Mark my Words!"
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