The do's and don'ts of calling on expired MLS listings
Having a plan can help you prospect expired listings with ease
Posted: July 30, 2019 by Amy Swinger
As a real estate agent, prospecting by leveraging expired listings can be an excellent tactic for building your business. After all, by the time a listing expires, many homeowners are frustrated with their current results to date and primed to make a change. Many of them are just as frustrated by the number of calls they get from eager agents; with limited inventory, the competition is fierce. And that means homeowners are overwhelmed with calls.
So, how can you rise above the crowd? Here’s our guide to the do’s and don’ts of calling on expired MLS Listings.
Follow these tips to make the most of expired listings
Don’t: Deliver a sales pitch
Have your scripts at the ready, but be personable. Practice addressing the questions and concerns you might get from a seller, and develop answers that get at what the seller’s pain and pleasure points are. Be prepared to address objections, too. That said, take care not to come off as a robot or telemarketer. Real estate is about relationships, so be amiable and natural in your encounters with sellers. Avoid giving the hard sell or delivering a sales pitch, both of which are sure to turn off your prospects. And remember, you aren't going to list the house over the phone. The goal of the call is to get an appointment.
Don’t: Give up if you can’t get them on the phone
Landlines disappear, and phone numbers change. If you can’t get a seller on the phone, don’t lose all hope. Find them on email, or contact them through U.S. mail. And don’t stop there, see our next tip….
Do: Work on relationship-building in person
One of the best ways to win the trust of a prospect is by meeting them in person, so don’t be afraid to meet with sellers face-to-face. Your conversion rates might go up, just because you made the extra effort over someone who called or emailed the seller.
Don’t: Do all the talking
After multiple calls from eager agents, the seller may have a thing or two of their own to say. Take time to listen, instead of doing all the talking. Answer any questions they have about the process, what they’re hoping for and what their long-term goals are. You may find this leads you both to building a shared foundation of trust and forging a better solution.
Do: Follow up
How many agents reach out to sellers with expired leads and never follow through? Over time, fewer and fewer calls will come in from interested agents. If you’re the one who is consistent, polite and friendly, that will set you apart and make you memorable. So don’t give up, and continue to follow up with helpful information for your prospects.
Expired MLS listings: rich with prospects for Realtors
We all know that those expired MLS listings represent opportunities for real estate agents. You can stand apart from the crowd by following these do’s and avoiding these don’ts. In the end, it’s all about growing your client list, helping them achieve their goals, and building a reputation for being a great real estate agent.