Why Expireds Aren’t Selling
But despite all of the new mousetrap inventions, the classic mousetrap (first patented in 1894) is still the best selling design. I’m sure each one of those inventors are frustrated. “Why won’t anyone buy my mousetrap? It’s genius!” they say to themselves. They’re frustrated, no doubt.
Expired Listings can relate to their frustration. One cannot throw a great product out on the street and expect people to gobble it up. This rule applies to inventions, homes, and even movies. Yes, even great movies need to be sold. Here is an example of a great movie that didn’t do well when it was first released.
Why I Take Expireds
Why did I just say that the reason homes don’t sell is because of bad marketing? Because that is what most sellers think. Most sellers think the agent messed up. Or, the agent didn’t “stay on top of things.”
The seller’s perception is reality to them. In their mind, the story they tell themselves is 100% the unadulterated truth. They don’t want to come to reality about their price. And, since price isn’t always the problem, then I’m glad to discuss the problems.
Stand Out From Competition
One of the most obvious niches of real estate, yet also one of the most despised.
Simply put, expired listings represent failure.
The reasons are many, but blame typically falls on the listing agent. So naturally, expired owners tend to have a jaded view of real estate agents in general.
At the heart of this special mailer/drop off package is page after page of testimonials.
The more you have, the better.
Remember what’s important to most expired owners: time and price. Highlight examples where you brought about a quick sale. Note any listings that sold above asking price.
Use testimonials that speak to the point of difference you bring to sellers, and how that enabled a home sale.
Pull together photographs of the homes. Use pictures of the owners you worked with. Let them do the selling for you!
Keep it low pressure. Just let them know you sent them an important package, and you wanted to be sure they had a chance to look it over. You’ll often find expired owners who’ve had a chance to look at your testimonial package are already sold.
Meeting the Owner
Listing Presentations or Scripts to Talk to the Owners
Most people are going to ask one question.
That question is, “How does your home selling program work and does my home qualify for it?”
Overpriced Listings and Price Reduction Strategies
I don’t know if those numbers are correct. But, I do know that people get so emotionally involved when selling their home.
Normal, nice, rational, smart people get all emotional and can’t understand how their home isn’t worth what they think it should be. And if you can’t sell their home for what they think it is worth, it’s your fault.
Bonus: Ways to get Expireds without Prospecting
But, I still hated it. It’s true. Which is why today I know that one of the biggest mistakes I ever made was…thinking that prospecting was the ONLY way to be successful in real estate.
Standing Out (AGAIN)
The best plans or intentions are useless unless you take action and do something with them. Using them and this guide to show your point of difference from other agents should be the most important thing you take away from this guide.
Sellers That Aren’t Worth Listing With
Agents get so desperate for business that they’ll take anything they can get. The key to success in real estate is just like anything else. You have to select the good customers and get rid of the rest. Banks do this when they reject the bad borrowers and only lend to the ones most likely to pay. Agents get so ‘’busy’’ chasing down unmotivated prospects and working with unmotivated seller listings and unmotivated buyers
The Best Ways To Get Expired Listings From The Redx
I see realtors spend money to buy seller leads all the time.
Why spend money on leads when you can get them for almost nothing?
You can get hundreds of great seller leads from the Redx – for almost nothing.
I pull thousands of old expireds from the MLS and Redx does ALL the work to research them for me.
First, they check to make sure the properties haven’t been re-listed or sold. And then they research ALL the owner’s contact info – including cell phone numbers.
These Expired Prospecting Methods Work For You
Here’s how to figure out the expired approach that works the best for you. There are a lot of different approaches.
- You can cold call. We don’t recommend it. But, it’s an option.
- You can leave voicemails.
- You can send them a text message.
- You can mail them a letter. We’ve done a lot of this.
- You can mail them a book. Or, drop it off on their front door.
- Warm calling.
- You can door knock. You can knock on their front door and offer them your book or other separating materials you have.
- You can have your assistant call them.
- You can mail a FedEx package.
- You could ship them a balloon. Just an idea. (I haven’t tried it. Yet.)
- You could ship them a big box. Another idea
- You can advertise to them on Facebook.\
- You can send them an email.
- Those are the different approaches that are available to you.
Now, I’m going to talk about some of the pros and cons of each approach.