With listing inventory levels dramatically low in most parts of the country, it may be more important than ever to aggressively go after every listing you can. While you likely have multiple sources for your listing leads, expired listings can be another major source of potential new business that you may or may not have previously tried. To get the best results and the greatest return from the time invested in working expired leads, you’ll need both a systematic approach and a consistent routine.
How Effective Is Your Expired Listing System?
To start an expired campaign, initially make a list of criteria for the listings you’ll choose to pursue. This is a critical step. Search your MLS daily to find many expired listing opportunities. However, instead of trying to actively pursue them all which will undoubtedly be too much to manage select ONLY those properties that meet your pre-defined criteria. Diluting your resources among a larger number of properties will simply diminish your results. Instead, focus on a smaller select group of expired listings with the time and attention needed to increase the odds for success. To determine the criteria for worthy listings, consider using price ranges, cities, subdivisions and/or any other relevant screening measure.
Then search DAILY for expired listing matches once you’ve established the criteria. Since predicting the best ones to pursue will likely be futile, ensure the greatest possibility for good results instead by consistently executing your plan. Typically, you will need to work through many expired listings before beginning to see results. Additionally, review each home’s available MLS listing information and photos to determine condition and prepare a brief market analysis to better assess the appropriateness of its last listing price. It is best to focus your efforts on expired listings that are properly positioned for the current market. If the home has significant obstacles, you can always discuss changes with the homeowner prior to activating a new listing and a price based on recent comparables, but you may not be able to change their mind about the property’s condition or price.
Beyond selecting the listings to pursue, you will need to develop an action plan designed to deliver results. Your action plan should include multiple “touches” reaching out to the prospect and should also share information about you, your marketing and your results. The information that you typically share in your listing presentation will work very well to provide the seller with details showing your skills as the right agent to handle the sale of their home. Because there may be many reasons why a property didn’t sell, if you can include the common causes preventing a property from selling, this is also very good information to share with the property owners.
Developing and perfecting your own effective and productive Expired Listing System can take a long time, but instead you can choose to implement a proven system designed to deliver results through a step-by-step approach you only have to follow. Having a ready-to-use expired campaign will eliminate the biggest hurdle in starting the process and allow you to immediately begin instead of delaying until you generate a plan. It’s best to be honest with yourself. Chances are if you were going to create your own Expired Listing System, you would have already done so.
So, if you are interested in creating the Ultimate Expired Listing System then I invite you to learn how this system will work for you. that will show you how to perfect your current Expired Listing System, or if you don’t have one, how to create one, start building your inventory and put more money in the bank.
With my 25 years working with agents from all around the country, I’ve put together a system that works and now want to share it with you. This system gives you everything you need….templates, worksheets, scripts, action plans and videos on how to set the system up.
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The Ultimate Expired Listing System
Are you ready to get serious about working the Expired’s in your market? Are you ready to start building your inventory and put more money in the bank? I bet you are!
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