Are you working EXPIRED LISTINGS?

Posted by Marvin Von Renchler on Wednesday, December 18th, 2013 at 12:46pm.

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My own property had been listed 6 weeks ago and it expired yesterday. Frankly, I forgot about it.  Well, the 'reminders' started at 7 AM this morning and by 11:30 I had received 15 real estate agent calls. Silly thing is the listing has OWNED BY BROKER all over it. Not one of the callers bothered to read the listing or check to see if it had been relisted.

Most of them jumped right into  CAN I LIST YOUR HOUSE without saying much else about themselves. Several sounded like typical boiler room cube callers, with fast and not very friendly closing techniques in the first paragraph. I say 'paragraph' because it sounded like they were reading from a script.

One man claimed to be the assistant to a large national companies top 50 producer. He was so machine-like that I couldnt get a word in edgewise. He said the agent had 220 sales last year. I was finally able to interrupt and asked if she actually sold those 220 or had she just been a listing machine and other real estate agents sold them? He tried to be technical and say that if she listed them and they sold, they counted as her sales. I said 'So, she is an advertising machine by placing homes in the MLS and anyone can do that. Why should I go with her?' He hackled a bit but immediately went in for the alternate choice close. "We have an opening to meet you Tues at 10 or would Wed at 11 be better for you?"  I was disappointed by lack of creativity. He could have at least tried the 'No means yes' close. After all---people are building that NO wall up as soon as any salesperson contacts them.   "Mr seller, if I could show you how our company is Gods gift to real estate, and Im almost in line to be Pope, etc, is there any reason why you wouldnt want to hear my presentation?" Mr Seller cant think of one quickly so says NO, which is the salespersons foot in the door.  Now, you can read all the great sales technique books out there and glean some ideas but over the last 33 years Ive used very few of those, preferring to be personable and finding something in common with the client.

Point is agents are out there now doing all the things that they knew to do but have been avoiding. Now serious hunger is driving them back to the 'Old Ways'. Door knocking, farming, working the MLS, etc. There are many ways to work the MLS besides calling expired!

Only one caller seemed worth my time. Most were annoying. I loved the annoying agents because it let me see what the competition is like. Consider your reason for trying to contact the person. Are they in foreclosure? Did they expire due to improper value from their listing agent? Was a spouse recently deceased? Thats not a funny subject and Ive known some agents who were very successful at it. I never tried and never will but it works. Considering the potential client, what would YOU want to hear if you were in their shoes?

Not one apologized for calling at 7AM. Not one asked if my agent was in the process of, or had just completed, the renewal. That is a big issue with me. First, if its renewed you dont waste a lot of time for nothing. You then congratulate the seller ands wish her/him luck. Some agents try to drop a bit of 'Im so neat' info so they seller will remember them if it expires again. Second, its professional courtesy to ask! If we all act like vultures trying to grab whats fallen out of each others nests---thats how we are viewed. Dont forget that fine line one walks when soliciting. Many boards do not want you openly soliciting a live listing.

1. Consider why you are calling them---whats their position?  2. THINK about what you would want to hear or not hear if you were in their shoes.  3. Dont do anything that could load them against you off the bat, such as calling at unreasonable hours. 4. Practice your greeting and message so you dont hesitate. Clients want to you to be confidant and professional but NOT sounding like a stuckup know it all. 5. Be real. Relate to them. Ask how you can HELP them. I dont tell people I am a real estate agent. I tell them 'I help people buy and sell real estate'. That causes them to think and question you.

I learned a sales lesson from my doctor, oddly. I had a scan and they thought I might have cancer. Of course I was distraught. VERY much so. The Doc looked at me and said 'Marvin, stop worrying. Im being paid to worry for you, its my profession.'  She was telling me she had it handled or at least would handle it. Thats how your clients should consider you! A problem solver. A professional.

Happy sales.

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