The expired listing is the most qualified, free lead in our industry, yet it is the least prospected. Probably because agents tried it once and when it didn’t work, they gave up and proclaimed, “I am never doing that again…that sucked”…and sadly, ended up waving off the expired listing lead as ineffective or not worth the effort. This is so wrong. I am here to tell you that I built an entire business on expired listings and have taught thousands of agents to effectively prospect, win and sell more expireds a month and a year than ever thought possible.
You just need a better, more effective strategy. My strategy will get you an appointment 8.5/10 times. Now that’s impressive. It means more actual results and more importantly, more closings and more income to your bottom line.
The greatest thing about the expired listing is that we know they wanted to move. They had a sign in their yard and they mentally made the decision to move. They also hired a real estate professional and unlike the For Sale By Owners, these sellers value the services we provide and aren’t as hard to close. You just need to get them excited about moving again.
Here are a few exclusive strategies from my PlayBook™ for converting expireds into income:
- Go back many months. Yes, the most current expireds should be called from this week and last week, but go back 9-18 months, or even two years and pull the expired listings and provide them with a value-added solution and provide them with a way to get them in their dream home and you will be thrilled. And even more important, so will these sellers who hear from you and hire you.
- Call with a value-added, solutions-based offering. Most of these sellers are down on the market and their home didn’t sell for many reasons. When you ask them if they are still interested in moving, get them excited about their next location. Tell them you understand they are probably disappointed that their home didn’t sell (12 months ago) and that you specialize in selling homes that didn’t sell the first time and that you have new market data that will help them determine a better pricing, staging, and marketing strategy. This adds real value and helps them get re-engaged about successfully selling their home and seeing themselves in their new home.
- Get the appointment. While you are sharing with them your high energy, solutions-based strategies to help them achieve their real estate goals, you should include a phrase that you have new market data to share with them along with a ‘formula’ for why their home didn’t sell. Then mention that you would like to come over and share the formula, your proven marketing strategy and get a tour of their home and say, “Great, what’s better for you, Thursday at 5 or Saturday at 10?”
- Remember there are TWO sales behind every expired lead. Most of these opportunities turn into both a listing and a sale because they are going to need a replacement home. It’s really a two-for-one opportunity.
- Huge referrals from expired lead clients. The beautiful thing about working with expireds is that you will literally change their lives by accomplishing the sale of their home and by finding them a new home. They will think you hung the moon, and they will refer you to everyone they know. It is a great feeling to help someone who wanted to move and just didn’t have the right agent and strategy to get the job done. You will be making a huge difference and will be a source of referrals for years.
If you have a proven and better strategy to convert expired listings into income you should try it. You have nothing to lose and everything to gain especially new listings, sales, income, and referrals. Implement this strategy and let’s utilize expireds to grow your listing inventory immediately.
Download Johnson’s Exclusive GoldMine Pipeline™ Strategy to get your agents closing more leads into listings, sales and ultimately income. This system can double their production, fast. Go to www.goldminepipeline.com for her Free EBook and the worksheet.
For more information about Johnson’s exclusive turnkey, team solutions to scale your team, contact Sherri Johnson at www.sherrijohnson.com/onetoone for coaching plans.
With 25 years of experience in real estate as a top agent, broker, and executive responsible for over 750 agents and over $1.7 billion in annual sales volume. Sherri Johnson offers her exclusive and proven methods through custom, one to one coaching and tailored consulting services. Johnson is a highly sought-after keynote speaker delivering high energy and real solutions audiences love. She has been named an RISMedia Real Estate Newsmaker in 2020 and 2021 as an Industry Influencer and Thought Leader. She is the author of the Sherri Johnson Academy, an on-demand learning platform as well as the 90-Boot Camp. Johnson is a preferred coach, consultant and speaker for top 10 international brands and brokerages and can dramatically increase your company’s revenue and profits. Visit www.sherrijohnson.com for more information.