There are some markets that every agent tries to tap into — FSBOs, newly expired listings, foreclosures — just to name a few. But there’s a widely untapped niche that can turn around some major leads. We’ll tell you exactly what that is, why you should focus on “old expireds,” and how to get the listings.
So what do we mean by old expireds?
We’re talking about listings that have expired — months, possibly even years before now.
Let’s check out an overview of the plan. Then, I’ll take each step individually and break it down for you in the following chapters.
Complete the following steps to get your leads
Everything you need to get started is in your MLS…
A. Pull the leads from your MLS.
Once you’re logged into your MLS, begin the process by researching expired listings, 1-3 months old. Then, 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.)
Helpful hint: When you are just beginning, it’s probably best to concentrate on one area at a time.
Books, Books, and more Books!
To really work smart, you absolutely, unequivocally need to get your hands on these books…
They are the perfect launch point for all your real estate marketing efforts.
Why Should I Get The Books?
They lend you credibility, vouch for your experience, demonstrate your knowledge, and firmly establish you as a premier agent in your area.
You’ve made it to the final step!
You’ve found your leads, and sent out your books. Now, it’s time to dig in and follow up…
Focus your efforts on the most promising leads.
If you have a lot of leads, sift through them and decide which ones you want to prioritize.
Working the best leads first sets you up to experience positive momentum.
If your follow-up conversation begins with a tentative, “Gee, I hope I’m not inconveniencing you,” your lack of confidence will be evident to the seller. And if you’re not projecting confidence in your ability to get the job done, you’re certainly not going to inspire it in your prospects.
It also means you’ll have a more difficult time being consistent with the necessary amount of follow-ups.
But what if I don’t have a lot of experience?
Answer: I say, “Hi, my name is Joe Nickelson. I’m a Realtor. I saw you listed your home a while ago and it didn’t sell. So I wanted to give you a copy of my book that shows how to sell a home that didn’t sell.”
While I’m speaking, I’d reach out and hand them my book. Then, I’d just let them talk and take my conversational cues from their response.
I had to learn to really listen…and that got me more deals. You can either talk “to” the seller, or you can talk “with” the seller.
Let me go through and summarize the steps one more time…
So just go out there and get a couple of leads going. Once you do that, it will all begin to make sense, and you will start getting those listings.
Just. Get. Started.
How many of us have seen a house listed on the MLS that’s obviously being handled by a Realtor who doesn’t know what they’re doing? They don’t take good pictures, they do a horrible job marketing the house, and yet… it still sells, despite those less-than-impressive efforts!
You don’t have to be perfect...
I’m not saying we need to have low standards. What I am saying is that sometimes, in order to get the ball rolling, we need to release the idea of perfection.
It’s totally OK for your business to be a work in progress. You will get better as you gain experience and know-how. You will increase your numbers the longer you work at this (especially when you’re working smart!), and you will be able to experience the success you’ve always dreamed about.
Just start working on it consistently, every single day, one small step at a time.
Pretty soon, you’ll figure out a great system and how to make everything work for you and your personality. Then, you’ll have more listings than you ever thought possible!
Old expireds represent a “hidden-gem” market for those smart enough to know where they should be digging…and now that you know all about finding and listing them…