Succesfully Capturing Expired Real Estate Listings

Expired ListingsA Wealth of Opportunity

Two Type of Leads

Possible Probable

Owners of Expired Listings

Demonstrated the desire and need

A problem you can solve exists and has

been identified

Internet Inquiries

Ad Calls

Sign Calls

Cold Calls

Understanding Human Behavior

Displacement

Reaction FormationRationalization

Rationalization

“He/she wasn’t right for me!”

“I didn’t really like it anyway.”

“I wasn’t 100% sure I wanted to sell.” or “The market is bad now.”

Break-up in a relationship

A buyer’s offer is rejected

A seller whose house didn’t sell

Normal human behavior pattern that helps people avoid depression

Reaction FormationWhen a person feels a particular emotion but they act in a different way than society would expect. They are hiding true feelings.

Cracking jokes and telling funny stories

A seller doesn’t sell home within listing period

Hearing of a death or illness

Being aloof and shrugging it off, saying, “oh well it didn’t sell.”

DisplacementWhen someone is mad or upset at one person but takes their frustration out on someone else

Kids, spouse, the dog

Seller’s home has not sold

Bad day at work… who do you take it out on?

You!!!

Being aware of these 3 human behavior patterns will help you navigate through

the following options sellers have.

Displacement

Reaction FormationRationalization

Seller OptionsWhen listings expire all sellers have 4 options.

Re-list with their current real estate agent1

Take the house off the market2

List the house FSBO3

Contract with YOU!4

They are giving the agent a second chance. If that is their decision, per the Code of Ethics, you need to wish them good luck and go on your way.

Re-list with their current real estate agent1

Rationalization

“We really didn’t want to sell the house anyway.”

“Making a move now doesn’t make sense.”

Take the house off the market2

“What made you originally want to sell your home?” The seller deserves to attain their goal!

Rekindle Their Dreams

List the house FSBO3

When you try to talk them out of it you will experience… DisplacementYou will take the wrath that the original agent who listed the house should be taking.Or they turn on the ENTIRE real estate profession. We are all worthless.

There is Good and Bad in Every Profession“Allow me the opportunity to show you the difference

between the previous real estate agent and me!”

The most confusing of all the options. We are prepared for rejection.

Contract with YOU!4

Why me?

Be ready to meet with the sellers.

Have all the paperwork ready.

Whynot me?!

However…be prepared for acceptance!

The sellers want their home sold and they want to use an agent.

Success Requires…

Approach

Salesmanship

Attitude

AttitudeA strong, positive agent with a good disposition and a plan on how to get it sold can always turn the negative feelings around.

ApproachDo not come off as too pushy, over bearing or blameful.

Use and ask questions. Offer items of value. Find out about the previous activity and why the sellers feel things did not

work out. Have a solid plan to solve their problem.

SalesmanshipEmpathize with them, and steer them in the right direction. Be

prepared to address their objections. Some objections are timing, price changes, making changes to the home. Acknowledge and

recognize their objections, then provide a way to solve the problem.

A Proven ProcessFollow these steps and you WILL prosper

Follow-Up Call

Go to the Door

HandwrittenNote

Handwritten Note

Dear Seller, I recently noticed that your home sale has expired in the Multiple

Listing Service. I am sure you are being bombarded with agent calls and form letters. Well I do things a bit differently. If your goal is to sell your home, I would like the opportunity to share with you my unique and powerful marketing plan. I have a few ideas why your home hasn’t sold, and it’s not the price. I would love to meet to share with you my thoughts and ideas. I will call to follow up in a few days, but in the meantime should you have any questions please give me a call.

Follow-Up Call

Keep your promise and call them. If you speak with them do NOT go in to huge detail about what your thoughts are…Close with an appointment.

Go to the Door

• Bring an item of value – brochure showing how you do things differently.

• Try and get invited in. • Leave your material behind.• Follow up with a second call.

From Now Until March 10th

Get an Expired Listing

and get a $100 AMEX gift card