Working Expired Listings

expired listing homeExpired listings provide a wonderful opportunity to find sellers to work with. In every area, there are bound to be people who listed their properties with agents and the property didn’t sell. Please note that with expired listings, you may need to handle the emotional aspects of the listing before getting down to business.

These people may be disappointed not only in the fact their home didn’t sell, but in the real estate industry as a whole. What you need to focus on is the fact that these people did have a need and desire to sell their home at one time and to find out what happened before you reached out to them.

  • Perhaps they listed it for too high an investment based on market value.
  • Perhaps their situation changed.
  • Perhaps there is something wrong with the property that the previous agent wasn’t bold enough to point out—something that kept it from selling.
  • Perhaps the market was flooded then with similar properties.

In any event, by contacting these people about their expired listing, you may be able to re-kindle that old desire and help them to market their home professionally and at the right price to have it sell.

Note: These people are likely to be disappointed in the entire process. If they had a bad past experience with an agent, you will have to tread lightly. Never knock the other agent. Just encourage the sellers to tell you everything they didn’t like. Then, tell them that you’re here to help them never to go through that again.

Move into your presentation on your personal experience, and talk about some creative ways you’ve helped others get happily moved. Your goal is to be  a breath of fresh air to their dilemma of selling their home.

To read more real-estate-specific posts, click here.

Copyright Tom Hopkins International, Inc.

Sell Like JFK & MLK

Occasionally, I like to share great ideas from other trainers. Please enjoy this guest blog post by my associate Greg Hague, who trains real estate agents.

Sell Like JFK & MLK With A Position Against Tradition

When Martin Luther King passionately proclaimed, “I have a dream,” and John F. Kennedy declared, “Ask not what your country can do for you, ask what you can do for your country,” they were indeed the ultimate salesmen. They knew that next-level selling is about engaging us emotionally. These great salesmen didn’t first explain features and benefits. They inspired us with their dreams of bucking the boundaries of the way it’s always been.

The elite in the world of selling often accelerate their success by persuading us to embrace their vision and mission. Once I learned this lesson, the money flowed fast and my days became more exciting and fun.

In the 1990s, I introduced a controversial concept into the traditional world of real estate. The firm I founded offered sellers a way to team up with my agents, hold their own homes open, and get a break on commission if they found a buyer.

OMG! I had tampered with two sacrosanct traditions, the typical 6% commission and the notion that only Realtors should hold listed homes open. [Read more…]

Real Estate Concerns: “We wanted another bedroom.”

Real estate agent with coupleWhat do you say when you hear this one? “The home is very nice, but we  really wanted another bedroom.”

When they say this, what does it really tell you? They don’t need that extra room. They were really hoping for it, but the odds are good, since you did a good job of qualifying that both you and they know they can’t afford a home with that extra bedroom.

Your job now is one of asking questions to help them gain a more realistic view of their situation. Try these words, “John and Mary, I know when we first talked you were hoping to find a home in this neighborhood where you could possibly have an extra bedroom. Knowing inventory the way I do, I’m afraid there just isn’t one available in your price range. If you’re open to considering a different neighborhood, or school district for the children, I might be able to find a nice home with the extra bedroom. I would be happy to research that for you, but have to ask, what will you base your final decision on: having that extra bedroom or having your children attend the schools you (and they) prefer?”

In most cases, the quality of the children’s education will far outweigh having that extra room that they were “hoping” for. Of course, if you work in an area with an open enrollment, perhaps the parents would be happy to drive their children to the better schools and live a little farther away in order to have that extra room. [Read more…]