The One Thing You Need To Know About Expired Listings
Did You Know?
Did you know there are three dates on the calendar when more listings will expire than almost any other time during the year?
As listings expire, here are the actions that you can take to capitalize on the opportunity to win more this summer…
The One Thing You Need To Do…
The one thing that you need to do when pursuing an expired listing is care more about the homeowner than you do about yourself and getting the listing.
They aren’t looking for another salesperson – they need a trusted advisor to listen to their needs, then simply and effectively explain their options.
Mastering the Seller’s Psychology
Understanding a little bit about human psychology is key to your success when interacting with a seller whose listing has expired. Three different behavior patterns you may notice include:
Ask the seller about concerns they had with their previous agent’s performance. What are some things that might have improved the listing experience for them? This allows you to align with their values and goals.
Then, through this conversation, you will receive all of the information you need to put together a listing presentation that directly addresses all of the needs specific to this seller and their unique situation.
Things That May Have Prevented the House from Selling
Helping the seller see the things that may have prevented them from selling the house will position you as a trusted advisor who’s there to help – rather than just get the listing.
They certainly don’t want the listing to expire again, so make sure you understand and address the factors that may have prevented the house from selling the first time:
Explaining the Seller’s Options
When you meet with someone after the listing has expired, you shouldn’t be trying to convince them to sell their home (that’s what salespeople do).
Instead, you should be helping the seller discover what their options are, explaining the pros and cons of each option, and then letting them make the decision that’s best for them and their family.
Every seller whose listing has expired has four options:
Some agents think expired listings are too much work to pursue. But it’s not the listing that’s the issue – it’s the lack of an effective plan.
This means an incredible opportunity for the right agent with the right plan – an agent like you.