We all know Expireds offer a great listing opportunity. But have you tried to list one recently? It’s tough. These homeowners get 100+ phone calls. 30-50 letters. It’s a non-stop barrage.
Yes, listing Expireds is a great move in a normal market. But, today’s market is NOT a “normal” market. It’s crazy!
Maybe you’re one of the lucky agents who gets one or two listings here and there after prospecting hundreds of leads.
But that’s not enough. Snagging one or two listings every now and then is not the way to do business.
You need more listings coming through. Your hard work needs to pay off — not require more of you.
What if I told you that there’s a better way to get listings?
Yes, Expireds have been a great source of listings for many agents. In fact, they’ve made many agents rich.
BUT, there’s an even bigger listing opportunity in today’s market.
With this listing opportunity, you face close to zero competition. While new Expired owners get barraged with 100s of phone calls, these listing leads are totally ignored. Few agents are interested in them.
I'm talking about Old Expireds.
Most sellers won’t put their houses back on the market right away — not after the frustration of a failed sale. They want to take a pause and get over the frustration.
People will often wait three months, six months, even a year to clean up something or do a remodel.
The beauty of Old Expireds is that they have a good price, the market’s improved a little bit and they’re ready to sell. They’re not getting called by 100 other agents. It’s a pretty easy listing opportunity.
Go after Expireds that are six months old, a year old, two years old, three years old, four years old, et cetera. In fact, there’s a Realtor who just got a $700,000 listing from going through very Old Expireds.
He recently listed the house in 2018, and the house had expired in 2013. Five years later, he got a $700,000 listing with no competition by simply reaching out to the homeowners. He was the only who contacted them.
Here are some other examples of agents that made a lot of money from Expireds.
One agent got an $805,000 listing in a very competitive market. He got this $805,000 listing in Ponte Vedra Beach, Florida, a very competitive marketplace — by going after an Old Expired.
Then, there was another agent who was not a great salesperson, didn't have a great offer. He was newer to the business, but he got a $300,000 listing from going after all of the Old Expireds in his area and actually got quite a few.
Over the course of a couple of months, he listed 10 old expireds and made a lot of money — all because he was the only agent going after them.
How do you get these listings?
1. Find the leads
Find Old Expired leads in three simple steps:
- Go into the MLS: Log into your MLS and research leads that are 1-3 months old. Or, you can go 3-6 months old, 6-12 months old, 1-3 years old, etc. (1-3 year old leads are great. See why below.)
- Make sure the lead has not been relisted: Check the address in the MLS to make sure it hasn't been relisted, sold, or rented.
- Get the lead’s contact info: Find the owner’s name and mailing address from the Property Appraiser’s website. Find the phone number on Intelius or white pages.
2. Send them your book
Books are a great way to capture the interest of Old Expireds.
Remember, these are people who have already dealt with numerous agents. They’ve heard all the sales banter you can think of, and they already know that that just doesn’t work.
While they are willing to sell their house, they want to list with someone who will offer them something new: someone who can prove that this time around, they will indeed sell their house.
There is no better way to stand out from the crowd, to show that you’re different than by giving clients your books.
When you offer books, you’re not going to get the same amount of rejection that you typically get when you cold call.
Why is that so?
It’s not very often that someone mails or gives someone a copy of a book that they wrote. So, you’ve already got that working in your favor.
They’ve got your book in their hands, they’ve seen your face, they’ve seen your name, and they’ve been introduced to what you’re all about.
One of our Smart Agents members, Cindy, managed to get five listings in two-and-a-half months after she started distributing books to her most promising prospects.
The books pre-sell the recipient on you. Even if your leads don’t read the books — or they just skim through them — chances are, they’re going to remember your name.
You can mail the books to your leads, or you can drop them in person. We’d highly recommend dropping them at their doorstep in person. This gives you the opportunity to build a rapport with them straight away. However, if you’re unable to do so, mail them instead.
3. Follow Up On Your Book
After sending books to the leads you were able to generate, make sure you follow up.
There is no guarantee that the seller will read your book or even remember to call you when they are ready to hire an agent. That’s why you have to follow up with them.
Send a simple thank you note a few days after giving them your book. This way, they'll remember you.
You can also follow up by email or phone. Find out if they have any questions about the book or the sale of their house.
If you don’t know what to say during your follow-ups, we have a great script to help you out. Check it out:
With a book sent to the client and a well-executed follow-up to remind them you’re still available to help them, you're guaranteed to get a listing presentation invitation.
4. Close the Deal
Now that the client wants to hear what you have to offer, it’s your chance to close the deal on the spot.
Use our tested and proven listings presentation to sell them on yourself. This listing presentation guarantees to double your closing rate on listing presentations.
The best part is that you don’t have to have to create anything yourself, just modify this “ready to go” listing presentation. Remember to get it today!
You are now ready to start listing old expireds. You certainly have what it takes. You just need to get started!
Joe Nickelson is a real estate professional dedicated to helping home buyers and sellers achieve their dreams of owning property, and helping real estate agents stop using the sometimes-vicious tactics that weigh on their consciences. He believes that the Smart Agents books will, quite literally, change people’s lives for the better. Check out his full bio here!