If you’ve been in the real estate industry for more than a week, it’s probably already obvious to you that if you want “NOW” business, you need to prospect Expired listings
You can realistically take 2-3 listings a month just by talking to these homeowners!
The homeowners who just had their listing expire which means they are already motivated to sell.
When this happens, your job is to convince the homeowner that you will save the day. You will save them the hassle of going through that whole process again and rather by working with you, someone they should have hired in the first place, they will ultimately net more money in their pocket.
Remember if you don’t do this, someone else will. Why not someone else be you?
First things first, sign up for a service.
Obviously as you already know, time is our most valuable asset.
When you became a real estate agent, you didn’t come to do admin work, you came to sell houses and earn money.
Sign up for a service which gives you a list of Expireds every day, there is no need for you to spend hours each day tediously finding the Exipreds.
Every hour you are prospecting is worth $500, $600, or for some of you, $1,000. If you are focusing on calling Expireds have someone else do the “busy” work for you.
The early bird usually catches the worm.
Keep in mind that in most states you’re technically not allowed to call prospects before 8am.
It’s up to you to decide what time you want to start calling.
However, one thing is certain, in most markets, if you’re calling them at 8:30am, you’re probably the 5th-10th caller.
Many agents have tremendous success by calling around 8:00am.
Now you need to just make sure you get to the office by 7:30am so you can be at the office getting prepared to start your day.
The things people say on tv are well rehearsed.
If you’re not using a powerful script, then you’re setting yourself up for failure.
There are many scripts out there that work, I have found that Mike Ferry’s scripts get the best results (Mike Ferry Expired Script).
Some of you may not like Mike Ferry’s scripts or beliefs, which is fine; don’t use Mike’s, but it is critical that you find a script that works for you and use it.
Everyday Monday through Friday I host a Role Play Workshop .
I created a virtual training environment where we put our students into break out rooms and pair them up with other agents while my coaches and I virtually observe you, critique and give you feedback that improves your performance and delivery.
Be kind to them
These are people that are getting hammered by other real estate agents that are going after their business.
Empathize with them. Relate with them. When someone connects with you, you really feel that don’t you?
You want to create that kind of connection with your prospect. Say things that make them feel good like
- You strike me as someone with a lot of common sense…
- You’re definitely smart, I can tell that by talking to you…
- I can certainly appreciate your perception on the market…
- You definitely a smart person, that’s clear to me…
No, you’re not being sarcastic and no, they won’t reject it.
Think about it… who’s going to say “No, I don’t have common sense…” After you give the compliment; attach a closing statement to it. For example:
“You strike me as someone with a lot of common sense so obviously we should get together… are evenings or afternoons better for you?”
By attaching a closing statement to your compliment, you are asking them a “sort of have to say yes” question.
Close them on the appointment.
Why is it that after agents do a great job talking with prospects they either fail to close for the appointment or only make one attempt to close? Memorize these phrases:
If I can get you the money you want in your pocket and sell your home in the time you want, would that pose a problem for you?
What’s usually a good time for you and your spouse, afternoons or evenings?
If we were to meet, what day would work for you?
I’ll be in the area, so let’s tentatively set something up. I’ll call you before to confirm and if we have to cancel, it’s no problem, we’ll reschedule. How does tomorrow at 5pm work or is 6pm better for you?
The battle is never lost, as long as you are being consistent.
You may get lucky and call an Expired after reading this and set an appointment, or it may take you weeks or even months before you set an appointment, but remember…consistency is the key… Anyone can spend 2 hours a day calling Expireds for a week, but who can do it for 1 month? 1 year? The agents who do this are the ones who are killing it.
Now is the time for you to take action and get to work.
Start prospecting now!