Harnessing the Expired Listing Market
Assisting EXPIRED Listings
Expireds are used to talking with agents, so it’s OK to call them on the phone and make an appointment to preview.
The Words and Philosophy of Contact (use your own):
Hello, Mr. Seller? Have and use their name frequently. Are you aware that your home is no longer offered to the MLS for sale?
If they say they have relisted, thank them and excuse the call. If they say anything else, We want to wait… We are rethinking the process… We’re going to try it ourselves… We’re mad at the agent…
Your answer is, Well fine, I’m looking for a few select properties to add to my inventory of fine homes for sale. Could I preview now or would some other time be more convenient?
Wait for their answer. Sometimes they’ll say, Where were you when it was listed?
Your answer is, I’m sorry. I’m afraid I was working 100% for the people who hired me to manage the sale of their property. I’m now interested in possibly dedicating time to selling your home. Is this a good time?
Enter the home when invited. Never say it’s overpriced, even if it is. Tell them you have an appointment and will have to be quick, and lead the tour, just like in the first FSBO visit. Take notes, if you need to, on condition and marketability, and return to the point of entry.
If you believe you can market this home effectively, and only if you believe it, say, I can get your home sold. Never say you can sell their home, this implies YOU will sell it and that’s just not true.
If they ask about price, you say, I don’t know. However, I could do a Right Price Analysis, which would take a couple of hours of my time. I will gladly do this for you at a no cost obligation providing that at some point you may be interested in hiring me to manage and market the sale of your property.
Do not use the following if you don’t believe it or feel you don’t have the strength to carry it through.
If you don’t believe you can sell the home, you say, I’m sorry your home does not meet the market specifications of my demanding buyers. But, thank you for allowing me to preview.
At worst they’ll say, Bye bye. At best they’ll say, Why?… or What do you mean?… or Huh, what are you saying?
You answer, I could create a list of tasks that will have to be done to bring your home up to market specifications. If you would make the commitment to make these repairs and changes, I know I could get your home sold.
Now if they agree, and most of the time they do if they are really motivated to sell, view the property again. Take digital pictures of areas needing improvement and set a time for them to meet with you. If not, nothing lost, go to the next appointment.
This technique is effective in today’s market.