Top 7 Tips for Working Expired Listings

By
Services for Real Estate Pros with RealSupport Inc.

Autumn typically marks a slowdown in real estate activity, and some agents welcome the breather.

For others, the last quarter of the year is an excellent opportunity to expand their sphere of influence, cultivate relationships, and line up new business!

One of the best ways to accomplish these goals is to work expired listings! Here are pointers we picked up from Inman News, from a podcast by real estate coach Tim Harris. We've included some insights of our own!

1. Don't make assumptions about expired listings. In most cases, expired listings were priced a little too high for conditions, and lost momentum. These homes may be highly salable with a fresh price, new MLS number and new marketing.

2. Visit the expired listing in person. This sets you apart from the postcards, emails and phone calls the homeowner has received from other agents!

3. Use a script to start the discussion. After briefly introducing yourself, open your conversation with one basic question: "Are you still ready to sell?" 

4. Ask to stay in touch. Sometimes when an expired listing homeowner says  "no" to selling, it could really mean "not now." Most will accept your offer to stay in touch. Obtain their contact information and leave your business card.

Even if you do not get the listing immediately, you will have gained a contact, and a potential source of future business and referrals!

5. Follow up by making a phone call in a few weeks. Calls are more personal than an email or postcard. Again, follow a script; re-introduce yourself, remind the homeowner of your prior visit, and give a reason for your call. Your reason for calling should always involve having some valuable information or market news to share - something worth their time.

6. Ask for business during the call. "Have you given more thought to selling?" If the response is positive, set up an appointment! If the homeowner is not yet ready to list again, ask: "If you know someone who is ready to buy or sell, would you send them my way?"

7. Stay in touch according to the homeowner's sense of selling urgency. Phone calls build better rapport, but there is no harm in sending a postcard in the mix, so that your personal brand and contact information is in hand.

Need help with your real estate marketing? Contact RealSupport today for your personal consultation!

Bonita Breit

Copywriting & Marketing Specialist

RealSupport, Inc.

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Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Expireds can me a gold mine .  Most agents will not go to the front door !

Oct 12, 2016 01:23 AM #1
Rainmaker
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Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Expireds can be very successful. You must be persistant and expect some "no's" but there are some "yes" people.

Oct 13, 2016 10:32 PM #2
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Rainmaker
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