Calling expired leads and expired listings is a popular prospecting method for sourcing real estate leads. Agents have prospected expired listings for decades, it is a highly competitive field. The secret high-performing agents know that sets them above the crowd is using the right expired scripts when calling your prospects.
Do you know how to write effective expired scripts? Below are expert tips and examples of what the best in the industry use to turn expired leads into new appointments.
The Psychology Behind Expired Listings
Before jumping into the best scripts for you, it is very helpful to think about the mindset of your prospects when you’re reaching out to them. This will provide a foundation for what to communicate in your expired scripts.
What are they thinking when you call their cell phone? They’ve already tried to sell their home with an agent, maybe even more than one, and their home still hasn’t sold. They feel discouraged, frustrated and are not very trusting that a real estate agent they don’t know can get the job done this time around.
Based on this, the most important feelings to communicate to your prospect are empathy and trust. Here are the top 5 expired listing scripts to use as you prospect expired listings:
The Empathetic Script
This no-pressure expired script from Borino Real Estate Coaching quickly shows empathy for the prospect and positions you as on their side. It immediately helps you stand out from the other agents calling and as the most trusted authority for the job. Notice in the opening how Borino instantly conveys empathy:
“Hi is this PROSPECT?... Hi PROSPECT, this is YOUR NAME with YOUR COMPANY. I’m not the first one calling about your house am I?…It must be crazy with all of these agents calling, they think they can make a quick buck off of you, where were they when your house was up for sale?"
As you can see, through empathy and building trust, Borino is able to turn a frustrated homeowner into a hopeful new appointment.
The Concise Script for Expired Listings
This short and sweet expired lead script from Jeff Glover is remarkable for its simplicity. It is designed to quickly uncover objections so you can resolve them early on. This way, you eliminate any obstacles between you and success when you ask for the appointment.
“Hi PROSPECT, this is YOUR NAME with COMPANY…The reason for my call is two-fold, one to be sure you know that your home is no longer listed for sale?...and two to see what your plans are for the property?”
If you are strong at handling objections, this could be the perfect script for you.
The Classic Expired Script
This expired script from Mike Ferry is a time-tested success. Its success relies upon its simple focus on getting you a qualified appointment.
“Hi, I’m looking for PROSPECT...Hi PROSPECT...my name is YOUR NAME with COMPANY...I’m sure you’ve figured out that your home came up on our computer as an expired listing... and I was calling to see when do you plan on interviewing the right agent for the job of selling your home?...”
This prospecting script is simple and to the point. Like the others on this list, it conveys empathy while also qualifying the prospect and uncovering potential objections before asking for the appointment.
The Speed to Success Script
This expired listings script from Josh Gossard helped him achieve early success as a real estate agent. His success is proof that the right expired script can help you achieve reliably successful results and set listings appointments.
“Hey PROSPECT, my name is YOUR NAME. I’m a Realtor here in the area, and I’m reaching out because I came across a property you recently had for sale. Since I specialize in homes that didn’t sell the first time around, I wanted to see what your plans are moving forward. Do you still have plans on getting your home sold?”
The strategy of this script is twofold, first, it prompts the prospect to indicate if they have any remaining interest and second it establishes you as an expert at selling expired listings.
Overcoming the Most Common Objection
As you gain more experience cold calling expired listings, you will see there are several common objections that you will face from prospects. This is good news. As you master handling these common rejections, there will be fewer in your way between converting a lead into a new appointment. Here is the most common and how to handle it:
“We’re Not Putting it Back on the Market”
There are several avenues you can take after this objection, all of which require asking the prospect questions instead of challenging them directly. Here are 3 ways to handle this objection:
- “Really? Well if it sold, where were you moving to?” This question redirects their attention to what they originally wanted to accomplish by selling their home.
- “If I were to present you with a strong offer to purchase your home, would you still be willing to at least take a look at it?” This question offers the prospect hope that they can still sell their home without a hassle and tests to see if they’re still in the market.
- “What do you think stopped your home from selling?” This question draws out potential objections and gives you early insights into what challenges there are selling this house.
Takeaways for Expired Scripts
Prospecting expired listings (for at least 30 days) is still a valuable way to source real estate leads as a lead generation method. As these leads have already decided to sell their home. The secret to success is using effective expired scripts in your marketing plan.
These scripts should quickly convey empathy and trust. The right expired scripts should also prepare you to overcome the most common objections or bad experiences. Also, if you are able to gather other pieces of contact information, feel free to utilize their email addresses and use these scripts in an email.
By using these tips and strategies from the best in the business, you will have more confidence contacting expired listings, making you the neighborhood expert in your zip codes, and you’ll have consistently successful results.