Working with Ezpired Listings

Ideas for Working with Expired Listings

I have been working with Expired Listings on a regular basis since the early 1980’s and prior to writing this article have avoided writing on this topic so I wouldn’t help my competitors. But since I have returned to the world of friendly competitors (St. Charles County), I will live up to that spirit and share some insights I have about the sellers of listings that have expired. But I won’t give away all of my secrets! (yes, this first paragraph sounds just like the FSBO article.)

The rest of this article could almost read the same as the FSBO article. So instead, I’ll just give you the link in case you haven’t read it.

Here’s a cardinal rule to follow: When talking with these sellers, do not call them “Expireds”. The people are sellers of homes that didn’t seller. The listing expired, not the seller (at least you sure hope they didn’t!!) Agents tend to speak that way to each other, but don’t make the mistake of saying that to a seller.

Understanding the seller of a home that has not sold is much harder than understanding the FSBO seller (even if they are easier to work with). Here is some of my thinking about them.
Some of them are frustrated like we assume they will be.
Some of them are very patient and very loyal to their previous agent.
Some will ask, “If you are so good, why didn’t you sell it while I had it listed.” (and you need to have a good answer for that, one that won’t make them think you are just another salesperson.)
Some will be ready to change companies, but you’ll still have to work hard to get a listings.
Some will be ready to give up.
Some will be mad that they have gotten so many calls and mailings.

There are two distinct opinions about when to contact the owner of an expired listings:

Some say to get up early in the morning to find them and then either call them or go by there home with information quickly. In other words, work to be the first one to contact them.
Other say to wait a few days or weeks until everyone else has quit contacting them.
I don’t think it matters. Instead I believe in looking for expireds every day and starting them on a mailing plan that will keep in touch with them…and still be contacting them when others have given up.

The author of this article is Linda Grissette. Some of you may remember her as Linda Grayson. Linda is a Broker-Associate with River City Real Estate. She is also the company trainer. Learn more about how River City Real Estate can help you make more money...even in today's market...browse through this site.

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