Resistance

YourCoachingMatters.com 2015Edition

ZERO

Expired

ExpiredsA Month

ThreeHow to List

Prospecting

What Do You Know About Expired’s

•They didn’t sell for a reason

•Everyone is calling them

•They’re overpriced

•Liars•Rejected•They were rude•Didn’t stay in touch•Where were they before?•They don’t earn their commission

No wonder we don’t call them!

What do most Realtors think

about a typical Expireds:

Now think of some adjectives that a typical

Expired Seller thinks about Realtors:

We tried them in the past. We were generally newer agents and sent

into the field not knowing• What to say • How to say it • When to say it

We were trained to ask confrontational questions • When are you

interviewing the right agent for the job of selling your home?

We had to hunt for them everyday.

We were trained to dump them after 7

days.

There are “tons” of other agents working

them too.

We had to see if they were relisted and on

the do not call list, etc.

We also usually had other agents telling us

how hard Expireds were to work with. And that all immediately re-

listed with the same agents.

We didn’t believe we could do it • we didn’t have the right

tools.

So we stopped working this lead source

altogether!

Why don’t we work this Goldmine?

Handling Objections

• 35 Years as an agent• Has sold over 3100 homes• At least 10 of them had

expired

• 11 years as an agent• Listed over 375• Sold 310 and counting• Listed one a week on average • SOLD 38 per year!!!!! • Goal is 45 in 2015 after 2

years off

Kate VailMike Stott

We Are Going To Give You The Tools!

So Why Work The Expireds?

Expireds are a great (if not the best) source of Business for an agent!

#1 They are easy to find!

They have already advertised that they want to sell!

They are HOT leads

We know what price didn’t work

They may be more realistic now.

Some houses are a mystery. They sell the 2nd time.

Many Expireds blame their agent or the market – not their PRICE g They may feel rejected personally.

99% of Expireds know the value a realtor brings to the deal.

Most Agents don’t work them.

And almost no one works them consistently

you’ll know which one or two agent in your board will be your competition.

Decide to Succeed – there is really no excuse to fail!

ReList – Same Agent

ReList- New Agent

Rent Or Stay

35.71% 40.71% 23.57%

10 to 50% Range 20 to 70% Range 20 to 30 % Range

Expired Survey Responses

77 People Surveyed Another Study of 9148 Expireds –

4899 Relisted! (54%) Half (2512) with a new agent15.7% Relisted within 1 week! 37.7% Listed between Day 8 and 365What’s your Follow-up System?

Microsoft Study Shows 13 contacts!!

209 “Cold” Calls 150 Bad Numbers 59 Calls Answered

Appointment 1 Minute each 5 Minutes Each

The More clients you contact the more sales you make!

2011 Study at the Keller Center @ Baylor University

About 7.5 Hours to generate an appointment!

There’s no good or bad time to call – all work about the same

Best time to call FSBO’s Monday! Expireds need to be called immediately Fail Forward – you’re going to stumble, mumble and make

mistakes. Live practice is the best. Pick up the phone make the call!

Our Philosophy

• Everything Easy Now was Once Hard• Two Types of Expireds

• Some Expireds Re-list right away and some “take a break.” It takes two different methods of prospecting to reach all of them. We’ll discuss both of them during this course.

• Offer them HOPE!• Their home can sell and they don’t have to do it on their own.

• Action guarantees Success• Consistency

• Do this daily for the 4 weeks• There’s a rhythm and flow to Expireds • If you stop you’re back to Zero!• You’ll get business 30, 60 and 90 days from now - from the work you do today!

• Mindset• You’re coming from a spirit of contribution• You’re trying to help them solve a problem.

• Be pleasantly persistent. • Be the agent who’s still offering to help after all the others have given up.

The goal is to simply set an appointment to meet with them face to face!

• Respect their perspective • it’s all they know!

• They reflexively say “NO” or • "we’re going to wait awhile"• "going to try on our own" • "we’re going to re-list with the same agent" • "we already tried your company we’ll try

someone new next time."• All of these are stalls.

• Show them that you have a proven plan that works for Expireds.

• That you specialize in homes that didn’t sell the first time & why this is important to this seller.

• Never Argue • Don’t make the Expired Seller Wrong. Superior knowledge is not permission

to be rude & condescending – give up trying to be right- you can’t win! Too aggressive turns them off in most parts of the country! Try to make them feel good without telling them “it’s easy.” Ask Questions!

Our Philosophy

The Reality Is - Here Are People Who Need To Sell!

Paid Services Mojosells.com ($149/mo and has access to Criss Cross for JL/JS for $200 a year)

Vulcan7.com ($300 a month)

$49 for two weeks http://www.vulcan7.com/leadgen

Landvoice $40

RedX

Your MLS –FREE!

Where do you find Expireds?

What to Do with a Hot Lead

1. Prequalify Them 2. Prepare for the Appointment

3. GO on Appointment!

What to Do With a Hot Lead

Prequalification Use a form Use it every time!

What to Do with a Hot Lead

Prepare for the appointmentPre-listing PackageTestimonials with Names

and Phone #’s They never call they just like the

idea of itStatisticsComparables PicturesTheir Motivation

Before the Appointment

Review the pre-qualification Role play the whole appointment using their

motivation and objections.Reduces stress level and increases polish! Allows you to

listen actively be “there” for them by

Mirror

Matching

Mimicking.

The YCM CMA Template

Go on Appointment!• Be Early

• Take picture

• Load into presentation

• Look at comps

• Be dressed well

• Clean car

• Listen to positive things before you arrive!

What to Do with a Hot Lead

Mirroring and Matching

Their Energy

Their Body Language

Their rate of speech

Their tonality

The words they use

The Expired Presentation

Keeping Track of Leads

You are going to need to use an excel spreadsheet or a database to keep track of all your leads.

Top Producer – Wise Agent – Realty Juggler – E-edge

All Work – Anything is fine with us that you....

Can and Will Use Daily.

Hottest Expireds 3 x 5 cards

Ones you’ve actually talk to

Kate suggests your Top Ten

Mr. Rodgers789 Neighborly Court-TT 4/21Excited about selling their home

John Doe456 Dunmovin Drive-TT 5/02Excited about selling their home

Jane Doe123 Awesome Lane-tt 3/12Interviewing Agents Soon, call back next week!

You don’t need to master this all today

Small sweet steps will get you there!

Phone conversation QuestionsPersonal VisitHouse Preview thenListing Appointment NOT … Hi I m a stranger and

you should list with me!Just Get Started!

Homework Week 1

• Organize your system (Finding Expireds’s and keeping track of them)

• Contact 5 different Expireds’s everyday this week

• Prepare your favorite Letters and postcards

• Practice and real play the script at least 5 times a day

• Record all the weird, funny things, objections that you receive

• Handle this Objection and email your answer: (mike.stott@mac.com) “We’re going to wait”

• Just because they say no today doesn’t mean they’ll say no tomorrow!

• SW SW SW SW