This is your guide to mastering the seller’s mindset and the strategy for turning expired listings into new business.
Understanding a little bit about human psychology is key to your success with expired listings.
We’ll begin by identifying the three different human behavior patterns you may notice when interacting with a seller whose listing has expired.
At the end, we’ll discuss how this applies in specific scenarios and what to do when having the conversation with the seller of an expired listing.
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 vs. just get the listing.
They certainly don’t want the listing to expire again, so make sure you understand and address the factors that contributed to it not selling the first time.
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 your 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.
This is the most critical seller option that that most agents aren’t fully prepared for.
When you contact the seller, there are five things you need to do to get them to list with you.
It happens, and when it does, be ready for it.