Are you taking full advantage of expired listings? Many real estate agents don’t like to go after expired listings for a variety of reasons. Some don’t like to deal with rejection, while others feel like it’s a waste of time. Here’s the truth: Expired listings are an essential part of any elite agent’s toolkit, and you need to master them to take your business to the next level. Here are three tips to help you get more leads from expired listings:
1. Get to them early. A newly expired listing will quickly attract tons of real estate agents. Therefore, try to be one of the first people to reach the owner by blocking out time for expired-listing prospecting earlier in the day. Typically, you should try to call new expired listings between 8 a.m. and 10 a.m. Then, you can move on to older expired listings later in the day if you still want to do more prospecting.
2. Go into them with the right mindset. Many homeowners are emotionally vulnerable after failing to sell their properties, so you’ll probably talk to some irritated people. Therefore, don’t let it bother you. Just like all prospecting, calling expired listings is a numbers game. Even if you only get one good lead for every 50 phone calls, it’s worth it. Stay focused, keep a consistent schedule, and demonstrate your value—you will see results eventually. It may also help to practice a few scripts if you need more confidence on the phone.
3. Follow up and take action. Make sure you have a system in place to follow up with expired listing calls that go well. For example, you can call a potential lead between five and 20 times to set up an appointment. This is a lot of work, but it’s worth it. Plus, you can leverage expired listings to help homeowners buy their next homes after selling and get your name out in their neighborhoods.
At the end of the day, expired listings are a great way to grow your business and thrive in this real estate market. As always, don’t hesitate to call or email with any questions. Make it a great day!