The following secrets come straight from our coaching clients who are successfully taking and selling expired listings. Today, we’ll discuss secrets, examine what real expired sellers have to say about their previous agent, and finally, provide strategies for you to follow so you can find success with expired listings as well!
Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206.
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1. Coaching clients report that there are far more expired listing opportunities than they thought. Key changes they made to find more expired homes? Expand your geographic search, go further back in time, and add withdrawn and temporarily off-the-market homes. Call your MLS if you’re unclear on how to perform these searches, or get help from your broker.
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2. Coaching clients state that the owners of expired listings are way nicer to talk to and much more open to discussion than they thought. They are craving a new approach and a better strategy.
3. Coaching clients who are taking these listings often sell them within 10 days or fewer of taking them. This creates a fantastic marketing opportunity to prospect even more expired owners. Client testimonials can be utilized for videos, postcards, door hangars, etc.
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Top Complaints Expired Sellers have about their previous agents (Real-world commentary, as reported by coaching clients):
1. The previous agent took the listing, put it in the MLS, and did nothing else. They expected the home to sell itself, which suggests a sense of overpromising and underdelivering.
2. The previous agent didn’t do any open houses. The previous agent either said they didn’t work, they didn’t believe in them, or they were unnecessary. This really makes sellers mad. Open houses are one of the only tangible things sellers see agents do.
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3. The previous agent’s pictures were horrible. They were seen in the mirror, showed open toilet lids, too dark, not staged, and not professionally shot. The sellers were disappointed in the lack of effort.
4. A Seller was away from the home and returned to roaches in the foyer. No one was checking on their vacant home. In this case, the home didn’t expire; the seller just fired the agent. It was showing as ‘withdrawn’.
5. Sellers often complain of zero or poor communication from their previous listing agent. Our coaching clients have a communications guarantee as part of the Pre-Listing Package. Problem solved!
6. Some sellers state that the only time they heard from their agent was to ask for a price reduction. While price reductions are often needed, you’re less likely to get one if you’re not showing value before you ask for the reduction!
Top Strategies to List Expired Homes:
1. Spend one hour daily speaking with Expired, Withdrawn, and temporarily off-the-market sellers directly by phone. Use RedX to find numbers.
2. Door knock all of the listings that don’t have good phone numbers within a 20-mile range of your home or office. Don’t over prequalify. Don’t get stuck in analysis paralysis. Who cares about the history if they want to keep the house? Once the seller is speaking with you, you’ll use your seller’s pre qualification script, then you can do further research on price and history. Don’t waste time pre-researching.
3. Door-knock and call from the most expensive to the least expensive homes! There’s far less competition for the more expensive homes.
3. Door knock Expired homes that meet the criteria of your buyers who can’t find the right home due to low inventory. This is one of the favorite calls of our coaching clients. They have real clients with real needs. Many transactions are coming together as a result of playing matchmaker.
4. Door knock and call on old and older Expired, Withdrawn, and Temporary off-market listings. Go back several months to several years. Remember that these homes have appreciated since they expired. You might not even need to re-price them to sell them for these clients!
5. Join Premier Coaching today to systematize your Expired strategy, and soon you’ll be successful with this gold mine! Don’t forget to sign up with RedX so you’ll have the information needed to get started.
Remember: There are no referral or other acquisition fees when you list expired homes. Listing (and selling) just one expired home monthly is worth at least $100,000 in yearly income!
