I broke into real estate with expired real estate listings. I didn’t have any money, savings, or marketing budgets so I needed to do something that wouldn’t cost me anything. Getting business for free isn’t the easiest route but let’s face it, you need a way to break through as a real estate agent. Being a Realtor, a new one, is tough for about a year or two – until you get in to the swing of things. My trainer had suggested I call the expired “for sale by owner” homes and that’s when I made my first sale. The tactic is taking someone that you know had an interest in selling and motivating that interest. You’d be surprised at what you can accomplish by motivation alone! Let’s talk about some ways you can make a breakthrough in your real estate career.
Being a Realtor, as successful Realtors will tell you, means doing whatever it takes to make a sale. Most agents don’t realize that they can capitalize on expired real estate listing. You have to know how to approach expired listings though. Expired listings are the fastest way to the cash when it comes to getting listings and controlling your business. Because words matter, you need a fool proof script. You can want to help people but have a hard time communicating those feelings. This can make you come off as disingenuous. A person is only going to listen to you for so long before they make a decision about you. Make that time count! Learn your scripting as if you were a performer.
What to say…
I can’t write your script for you because I don’t know how you talk. The last thing you want is to not sound like yourself; you’ll eventually have a lot of unscripted moments. Don’t completely change tone on your client. Since knowing what to say depends on what someone says back to you, write your script based on that. The would be seller has their own script that’s designed to shut you down. Because they don’t know you or your intentions, they’re not likely to trust you right off the bat. Think of what a seller might say to you and have responses prepared. “Where were you when my house is on the market? Why didn’t you bring a buyer? How many homes have you sold in the last month?” If they mean to shut you down, you need a way to make selling a good idea to them.
How to say it…
You have to be able to speak with confidence, passion, and power. Now, how do you get good at it? Same way as you get good at anything… Practice, practice, practice! Most real estate classes teach you all the ins and outs of the business. But they don’t teach you how to be good at talking to people. What I like to do first is record myself having a conversation with myself. I’m the Realtor and the seller. As the seller, I say lines about why I don’t want to sell my house. And this is real – I’m thinking as if someone came to me and tried to get me to sell. And then I do a playback and respond to myself with my Realtor answers. Writing down everything if it sounds really good.
I also ask friends to help me out and they’re always open to it! It’s actually pretty fun because your friends already like you so you can be comfortable with them. I honestly sit down with them and start in on trying to get them to sell their house. Now, convincing someone to sell will be a little different with everyone. You have to find out what will push them to their tipping point. Is it money? A new neighborhood? A bigger home for a good price? They already know what’s in it for you – but you’ve got to communicate what’s in it for them. Negotiations are about mutual benefit right? No one wants to walk away from settled negotiations thinking they got nothing from it. The next thing to do is actually start making calls to expired listings and practicing in a real scenario.
Potential hang ups:
Nope, I don’t mean people hanging up on you, although that will happen! But what do you do when expired real estate listings have non working phone numbers? If you can’t get in touch with sellers, how can you sell their house for them? Being out of touch can make you feel upset after a bit of time of trying and trying but getting nowhere.
Here’s where your sales tactic comes in: You will make a sale. You will get in touch with these people. Say it over and over to yourself. Make it your mantra because if you start feeling hopeless… It will overtake your goals of success. What do you think the people who were trying to sell their homes are feeling after their listing expired? That’s right – hopeless. That’s where you come in to save their day! Let’s talk about a couple ways to get them back in the game.
First of all, how do you get in touch with someone whose phone number doesn’t work? You have their address so look them up online, send them material via snail mail, or stop by their house. Not every person will respond to the same form of solicitation so have some backups anyway. Once you get in touch with the homeowner you have to remember one major thing: They need you. This isn’t about your need for a listing. Breakthrough as a real estate agent by thinking, not of yourself, but of your client. Please the client, get more clients! They put their house on the market in the first place right? They wanted to sell for a reason so you find that reason and make them a promise to get that house sold. It can be challenging but being a Realtor isn’t always easy money.
Don’t worry about getting rejected. You’ve rejected situations before and probably not out of spite but because your circumstances and feelings dictated it. This whole situation is about getting a home sold for someone else. So, pull your needs out of this situation. Success for you will come but for right now focus on your seller’s success. And get excited for them! Expired real estate listings can be difficult to take on but they will give an amazing sense of accomplishment. Trust me, if you can sell expired leads, you can sell anything!
Most people who decide to sell their home would rather not go through the hassle, right? It takes a lot of work to sell a house and not all Realtors are created equal. A person that decides to sell has a lot to deal. It should be no surprise that if their listing expires, they may need a break. Your scripting should not be asking the question, “Will you list your home with me?” Or anything like that. Because it’s imperative you make it easy on them, put all the work on you. Say that you’ll get their home sold. You’ll do this or that. Let them sit back and relax while you earn your commission. In fact, I’ve used that line and boy does it SELL!
Don’t Be Afraid to Get Angry
I’m not talking about you getting angry about something – I’m talking about you getting angry with your client. They hired an agent to do everything you’re saying you’re going to do now. And that agent didn’t deliver. Besides creating an opportunity for you, it should make you upset that your new client is upset. I wouldn’t say you should talk trash on another agent but you can certainly listen, empathize, and talk it out. Best yet, get them the results they wanted in the first place! Don’t stop until you’ve achieved their goal. What they don’t need is you apologizing for another agent… They need you to sell their house and be able to assure them of that.
As a conclusion there is one last thing to say… When you’re working as a Realtor, in any capacity, don’t let the listings you’ve taken on expire. In fact, before you start a relationship with a seller, do your research to make sure the property will be able to sell. Make sure you’re on the same page with the client about what the pricing should be. If the market is in decline, the selling area is bad, or the house is in bad shape… Be honest with your client about needing to lower the price, making upgrades first, or preparing for a long sale. Bottom line: If you can’t sell it, don’t take it.
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REAL ESTATE AGENT GUIDE
- WHAT MAKES AN EFFECTIVE AGENT
- FIRST 30 DAYS AS A NEW REAL ESTATE AGENT
- FIRST STEPS FOR NEW REAL ESTATE AGENTS
- CONTROLLING YOUR ONLINE PRESENCE
- HOW NOT TO BRAND YOURSELF
- AVOID THE UPS AND DOWNS IN SELLING
- BREAK THROUGH WITH EXPIRED LISTINGS
- FIND CASH BUYERS – YOU NEED THEM
- HOW TO GET MORE LISTINGS – PREPARATION
- GET MORE REFERRALS
- HOW TO GET SELLERS TO PRICE IT RIGHT
- GET YOUR 1ST DEAL FAST AS A NEW AGENT
- JOIN A TEAM OR GO SOLO
- FAST WAY TO BUILD REAL ESTATE BUSINESS
- BUYING INTERNET LEADS DOESN`T WORK
- WHY MOST NEW REALTORS FAIL
- WHY REAL ESTATE IS FOR ENTREPRENEURS
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