I would like to assume that you are a real estate agent and already know what an expired listing is, but for those of you that do not:
An expired listing is when a listing agreement ends with an agent and it shows up on your MLS as being “expired” or is just no longer on the market.
I know many of you reading this have tried to re-list expired listings before. A lot of agents give up or think there are too many people calling them.
The easiest way to get phone numbers, email addresses and an address where the tax bill goes to (or owner lives) is to subscribe to a data service like REDx. You can use the link www.JasonMorrisREDx.com and they waive the set up fee for you.
I want to cover a couple of other options you have to try to list them, other than just making calls.
- Door knocking expireds
If you choose to go knock on the door of an expired listing you need to make sure you are set up for success.
- Have a flyer or some sort of information that you can leave in the door. What you want is a call to action, not a marketing piece where you are trying to list it but one that they respond and contact or call you.
I always recommend you keep it very simple. A hand written note that says “do you still want to sell your house? Call me (phone number)” works very well. - If they are home, I would recommend the conversation starting with “do you want to sell your home?” if they say yes, continue the conversation by getting their phone number and email, then setting up a time to actually come back and list it. A stranger showing up at someone’s house asking to come in is typically not going to be a welcoming visit.
- Follow up is the key to getting listings with any lead type. A “no” is not typically rejecting you, it is them rejecting the idea that you are presenting to them in the moment.
- Have a flyer or some sort of information that you can leave in the door. What you want is a call to action, not a marketing piece where you are trying to list it but one that they respond and contact or call you.
- Phone calls
I still feel like, even in 2024, the best practice is to get someone on the phone. The problem a lot of agents have is they miss the purpose of the phone call. The call is not to list the property, the purpose is to set an appointment to list the property.
Here are a few tips to help you when making these calls.
- Always use a script. If you ask the same questions over and over, it does not take long until you know all the answers to the questions you are asking. Once you talk to 50 sellers, 100 sellers, 1000 sellers, you will almost be able to anticipate the response they are going to give you before they even give it to you.
- Eliminate the word “listing from your vocabulary when talking to a seller. Instead of talking about “listing” their house, you should talk about “selling” their house. Remember they just “listed” with another agent, it didn’t work out. That is why it expired.
- Watch your tonality when talking to a seller. If you are not confident about your plan and what you are saying. They won’t be confident about your plan and you either.
- Follow up is the key! I would be willing to bet just a small fraction of 1% of expired calls end in them saying “yes, bring the paperwork right now and let me sign it”. It may take 10 to 12 conversations or more before you set an appointment and actually list their property. This goes for all types of leads.
- Have a plan. Most agents are constantly just shooting from the hip and hoping things work out. You need a full sales process and plan to be able to consistently take listings. I wrote a book called “How to be an Expired Master” that is available on Amazon. In that book I go through an entire process to help you take more expired listings.
3. Texting Expires
It is a busy world we live in. Most of us are used to just texting people rather than picking up the phone. The problem most agents have is they try to skip right to the point and send a huge text thinking that somehow this seller will be super impressed and just call them to relist the house ASAP.
But just like when one of your friends sends you a HUGE text, the chances of you reading it before you get distracted by the next thing is very small. Here are some text scripts that you can use for the initial contact
- “Do you still want to sell the house at (address)?”
- “Can you call me at your earliest convenience about the house at (address)?”
- “Are you the owner of (address)?”
These texts are very simple with a “yes” or “no” response. If they respond with a “yes” your next text should always be
“When is a good time to call you?”
Set up a time to call and call at that time.
4. Facebook ads
If you subscribe to a service like REDx you can take the phone numbers/emails and upload them to Facebook to create a custom audience. For just a few dollars a day you can have an ad running and showing up in their newsfeed on Facebook.
5. Direct Mail
The reason I included this as a way to get more listings for expireds is because there just are not many people sending mail anymore.