Learn the scripts used by top listing agents to call and convert expired listings into new active listings. One thing you may notice is the actual scripts and techniques haven’t really changed over time, but the method of procurement has evolved considerably.
As technology evolves, access to leads as never been easier. This also creates a burden on agents because as these tools progress it becomes more of a challenge to set yourself apart from the others. Roughly 50% of expireds or withdrawn listings will re-list within 7 days of expiration, and roughly 80% will re-list within 30 days so time is of the essence.
Online Expired Lead Services
Expired leads are now available at your fingertips, with various online resources. Some of the most popular lead sources include REDX Lead Platform, Landvoice, and Vulcan7, and ArchAgent which also provides auto-dialer functionality. These resources allow you to quickly and efficiently gain access to homeowner’s contact information, including cell phones for expired listings.
Gone are the days of manually dialing the phone like I used to. Today’s tools include auto-dialers which will save you both time and money by dialing up to five numbers at one time and offer the added benefit of leaving a prerecorded voicemail for any seller who was not able to pick up the phone. Popular tools include PowerDialer through ArchAgent, and Mojo Dialer.
Like all prospecting, calling expireds is a numbers game. With the majority of sellers receiving a high volume of calls, your scripts, techniques, and phone voice can make or break your results.
Tips for Calling Expireds
1. Do not focus on price, focus on why the home didn’t sell. 2. Never ask a seller if they are aware that their home is no longer on the market. 3. Your window to getting an expired is within 7-10 days so move quickly.
When a listing expires the sellers are instantly hit with random calls from real estate agents soliciting their business. You have to set yourself apart, and take the focus away from the home not selling over price because that is what everyone else is saying and the sellers resent it.
Agent: Hi! My name is ______ with XYZ Real Estate. I see online that your home is no longer available for us to sell through the MLS. Let me ask you, do you still want to get your home sold?
Agent: Well we specialize in homes that didnt sell. Let me ask you, has anyone told you why your home didn’t sell?
Agent: There is really only one reason why your home didn’t sell, and it is generally not because of price. It is because of marketing. Are you still open minded about different strategies?
Client: I see no harm in that…
Agent: Great, let’s get together. I can come by this evening if that would work for you, or would tomorrow be better?
Client: We decided to not re-list at this time…
Agent: Ok, I can understand that… Let me ask you, if you were to sell where would you like to move?
Agent: What is your frame, how quickly would you like to move there?
Agent: If I can bring you an offer that would make sense for you, and get you moved to _____ now versus 10 months from now, would you still have an open mind to reviewing that offer? Great, let’s get together so I can discuss this further with you.
The more you practice – when I say practice I mean making actual calls, making mistakes, learning from your mistakes, and getting better – the better you will be, and the more contracts you will get signed.