Resuscitating Expired Listings (PART I)

You have probably spoken with individuals who have listed their home and have waited anxiously as absolutely nothing happened. Eventually, their listing expired. They are probably disenchanted with the home-selling process in general and may be frustrated with real estate agents in particular. So why should you approach them? Because you now have an unparalleled opportunity to rise above the competition and SHINE!

Resuscitating Expired Listings (PART I)

Everyone appreciates good service, but those who feel they have received poor service are usually more impressed with excellent service than those who received average service. They have a basis for comparison … and you have a golden opportunity, if you:

  • Identify with the Client
  • Assist Without Obligation
  • Empathize

Identify with the Client

They have already been obligated to someone who let them down. They won’t be anxious to go
through that experience again. Understand that and let them know that you understand.

Develop and offer potential “expired” clients a guide like “How to Interview and Select your NEXT Real Estate Agent.” You are in the enviable position of helping a potential listing
client feel comfortable with trusting a real estate agent again.

Assist Without Obligation

What should you do to set yourself apart? Offering them information for free will help build a bridge across the chasm in their trust. Do the following on your website and on your marketing
materials aimed at expired listing potentials:

  • Offer to do a CMA
  • Offer to give them pointers on pricing their home
  • Offer to give them pointers on staging
  • Develop and offer a “what you should expect when listing your home” sheet

This will begin a dialog with them and will help them to see you as someone who helps, not
merely someone who wants to make a sale.

Empathize

Although they didn’t sell their home the first time they tried, it’s not just about the sale. It’s about the service. It’s about them feeling that they are important and that you are willing to help them, and put their needs first.

In person, or on the phone:
Let them talk about their experience and help them identify what they need from you. Take the time to talk to them when they call. Ask questions to determine what concerns them most and offer some solutions on the spot. Then, offer to send them some literature specifically for their situation, and ask for their physical and e-mail addresses and their permission to send them
helpful information.

On your website: If you are marketing to the expired listing clients on your
website, show that you understand in your content and encourage interaction by the visitor by offering information that will particularly appeal to this audience.

For example, create a document on how to sell a house that didn’t sell, like: “A Guide
to What Went Wrong and How to Fix It”
and have it available by request from your site.

Like first-time homebuyers, the expired listing client may need additional “hand-holding” but the opportunity for securing listings and glowing testimonials as a result of approaching this type of potential client is excellent – if you are willing to go that extra mile.

If you aren’t comfortable writing the guides, information sheets, or creating web content specifically for expired listings, hire a writer or a VA specialist to create them. You can get original marketing pieces based on your particular market painlessly. Most writers will take your notes or will conduct a short interview with you to gather information. The writer will then create and send you polished copy while you are working on what you do best… securing more listings!

Next time, we will talk about how to demonstrate your service to a potential “expired listing” client even before they become your client!

© Copyright 2005 by Angela Allen Parker of Wicked Wordcraft

 

This article first appeared
in the “Word Magic” column at www.epowernews.com
in April 2005.

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