Old Expired Training: These Leads are Waiting for You

Old Expired Training: These Leads are Waiting for You 2018-04-25T12:30:06+00:00

Here’s why 1-3 Year Old Expireds are still great leads.

Yes, I know a 3-year-old expired sounds “old.”

There are actually thousands (potentially tens of thousands) of expireds hiding right below the surface.

Here’s the advantage with old expireds.

In today’s market, Realtors are prospecting and calling FSBOs 50 times.

They’re calling the new expireds 50, 100, 200 times whenever the listing expires.

Read Chapter 1
 

Here’s how to find the leads.

Go into your MLS and pull up an MLS area you sell homes in. Or pull up the area that you want to work in.

Pull up the old expireds.

Pull the leads from your MLS.

Log into your MLS and research the 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.

You can do that manually by checking their address in the MLS.

Research the lead’s contact info.

You can get the lead’s mailing address from your local Property Appraiser or Tax Assessor’s Website.

You can often get their phone number from WhitePages.com. Or, a better spot to look is Intelius. Intelius costs $20 a month and will get you cell phone numbers.

If you’d like to automate Steps B & C, then download a bunch of leads from the MLS and upload them into the Redx’s Expired Lead System. Their system will do Steps B & C automatically.

If you need help doing that, then contact the Redx’s Support System for assistance. They have live support reps that can walk you through the process.

Yes, I know a 3-year-old Expired sounds “old.” But, an agent I know just listed a $375,000 house because he went back three years.

He sold a house in a neighborhood and then he said, “You know what? I want to get more listings in this neighborhood.”

He dug through the MLS, found a 3-year-old expired, contacted the owner and listed the house. Once it was on the market, it sold very quickly. He made a nice commission.

Intellious is the best tool to find these owner’s numbers.

Read Chapter 2

Here’s The Easiest Way To Get Listings.

I’ve tested out dozens of different strategies for getting listings. And after years of testing and tweaking, here is the best strategy I have found. It’s called “Warm Calling.” Let me explain what it is.

Read Chapter 3

They’ve already “been there, done that,” so you’ve got to do something different to stand out!

Why Expireds?

Expired Listings.

One of the most obvious niches of real estate, yet also one of the most despised.

Why?

The reasons are many, but blame typically falls on the listing agent. So naturally, expired owners tend to have a jaded view of real estate agents in general.

On the flip side, the home owner has tipped his or her hand. By listing, they made it abundantly clear they have a desire to sell their home!

Additionally, they displayed a willingness to work with an agent.

This makes the owner of an expired listing the ideal lead. The moment their listing expires, it becomes a magnet for other agents hoping to jump in and win the re-listing for themselves.

You’ll likely find that expired owners are sick and tired of answering phone calls from eager agents. You’ll also quickly realize they have been hearing the same thing over, and over, and over again. Each agent they give an ear to has a pitch. Sadly, most of them are basically the same.

The good news is with so many agents going after expireds in the same way, it’s easy to stand out from the crowd!

The first step is to find a way to be different from everyone else.

This may be the single most important step you take toward winning expired listings. As a bonus, you’ll be able to leverage this point of difference in ALL of your calls, contacts, and listing appointments.

The concept is nothing new, and pre-dates the specific theory proffered in the 1940s. At that point, this idea of “being different” was given a specific name: USP – Unique Selling Proposition, or Unique Selling Point by a television ad pioneer.

Call it what you will, Point of Difference, Unique Perceived Benefit, Competitive Advantage, the concept remains unchanged.

Read Chapter 4
 

We talked about our warm calling process a couple of chapters ago.

But like anything else, it’s up to you to use your best way of prospecting. Direct mail is a great option. But calling these old expireds isn’t a bad way to do this, if it’s one of your strengths.

When you contact a lead that already has your book, they’re familiar with you.

Joe talked about how he would approach a call in the video above. He would call and offer these old expireds his book.

Read Chapter 5

Don’t make a listing appointment seem like a big deal.

You’re just asking to look at their house. You’re not asking them for money or asking them for a listing. This is just an appointment to look at their house.

Read Chapter 6

Once you’ve mailed or dropped off the package, the next step is a call or dropping by.

For the ones who don’t, give them time to get your package, and then give them a ring. Remember, you’re not cold calling. You’ve sent them a package, so give them a follow-up call to make sure they got it.

Keep it low pressure. Just let them know you sent them an important package, and you wanted to be sure they had a chance to look it over. You’ll often find expired owners who’ve had a chance to look at your testimonial package are already sold.

For example, Ben recently went out to meet an expired listing owner. He’d mailed her an “Expired Rocket” package, and made a follow-up call. She had gotten the package, and at first glance was impressed enough to make an appointment. By the time Ben met her in person, she’d read through the testimonials. Before he could even start, she said: “I want you to sell my home, where do we begin?”

Read Chapter 7

I listed a house with a guy who owned his own business. He was a pilot. This dude was kind of a cowboy.

He was no nonsense. Sales people would call him up and try to close him and didn’t get any results. But I sent him the book and followed up.

“Ben, wow, I’ve been meaning to call you. I got your book, that’s such good stuff.”

It was really easy to set up an appointment. It wasn’t the big fist fight and objection.

When you’re sending out the book, 20 to 30% of them are gonna be waiting for your call. Or even better. They want to call you, but just forget.

“It was me getting over the mindset of, “Hey, they’re gonna try to squeeze my neck.” And I call them up. I remember this one dude, and he said the same thing, “Man, I’ve been meaning to call you. I’ve been looking at your book and I’m so glad you called me.” And I thought he was joking at first,” said Joe, “The people are nice and friendly, most of the time, you’re gonna have a jerk every once in awhile. Sometimes I’ve had people be really rude, and just kind of laugh and get them off the phone. Who cares?”

Read Chapter 8
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Chapter 1

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This book is my "mini-salesperson" and it gets me more listings without cold calling!