Prospecting and Winning the Expired Listing Strategies to help you succeed where others failed

Today’s Agenda Prospecting Expireds Developing a system Using the tools Practice Dialogue Closing for the Appointment Handling Common Objections Share & Discuss tools that helped you Win the Listing

My house didn’t sell! How do I select the Right Realtor this time? How do you find them and set up a prospecting plan? My house didn’t sell! How do I select the Right Realtor this time?

What’s YOUR Expired Prospecting system? Do you have a system to identify properties that are nearing expiration? Do you preview these properties for your buyers? If you’re serious about Expireds, why would previewing the soon-to-be-Expired be a good idea?

Prospecting for Expireds To build credibility, it’s better to have been in the house BEFORE it expires. Why?

Prospecting for Expireds Demonstrates to the sellers that you’re an active, working professional with active buyers Proves that you are the Neighborhood Specialist because you preview properties (or attend Broker Opens) to stay on top of the local market. You know their home (you’re not just an opportunist who reaches out to them only when their house expires).

Where to find them? Varies by MLS: Posted in MLS Daily

Set up a System of Automatic Reminders All of the Expired Listings, within your selected farm will be Emailed to you Daily!

How do you find the phone number of the seller? Is it on the listing? Reverse look up (by address) on various sources White pages.com Anywho.com Cole Realty Resource.com How can you contact them if there is no phone number? What if the property is vacant?

Create a “Expired Preview” farm Active Properties listed 5-6 months ago within a specific area and Emailed to you daily. Now, make appointments to preview them.

Benefits to Previewing the Property Before the Listing Expires Building the relationship before the listing expires is a sales technique that will set you apart from other agents. Reinforces your image of an active, neighborhood specialist

Preview Listings Within 45 Days of Expiration Whether you’re previewing or showing the home: If possible, make the appointment for a time when the seller is home so they can meet you Engage the seller in the conversation/tour Demonstrate your interest in the property and your excitement in its best features Listen to their frustrations and concerns Listen closely to their questions

Preview Listings Within 45 Days of Expiration Make everything positive Leave your business card Report showing feedback in positive light to the listing agent Don’t give your opinion on price (say, “If you’re inviting me back to talk about this, I can do that”)

What if they ask you…How’s the market in your opinion? “Its been great! I’ve had good buyer turnout at my open houses. As a matter of fact, I am holding one at _____, why don’t you stop by?

Make the call. . . “I notice your home is no longer listed for sale. Are you still interested in selling? Assuming the seller says, “yes,” What would you say next? *If the seller answers, “Yes, and already listed again,” thank them for their time and wish them success in selling their home.

Suggested Questions Are you still planning on moving? Compliment them on a selling feature. . .”did you get many comments on that?” Why do you think your home didn’t sell the first time? Let’s meet so I can show you the tools and skills I have to work hard and get the job done. Is this afternoon ok or would tomorrow evening be better? Goal: Get the appointment

Be Prepared for Two Questions: Why do you think my house didn’t sell? Why didn’t you show/sell it? DEFER: “I would be happy to answer those questions and others. Let’s make an appointment to meet so we can formally discuss.”

Following Up is Critical Let’s revisit the Follow Up Conversion Chart.

Use WeichertPRO to set up an Action Plan for Prospecting Expireds After you preview the property: Add the homeowner contact information into PRO Put them in your PRE-Expired (month) Group Add a reminder on your calender to call them 30 days after your initial visit Send a hand written thank you note after you speak to them Add a reminder 3-4 days later to stop by their house, if you didn’t secure an appointment on the first call

Use WeichertPRO to set up an Action Plan for Prospecting Expireds After your first contact attempt (door knock or call): Add the homeowner contact information into PRO Put them in your Expired (month) Group Add a reminder on your calender to call them a few days after your initial contact Send a hand written thank you note after you speak to them Add a reminder a week later to contact them again, if you didn’t secure an appointment on the yet

Find video to replace this

Practice “I notice your home is no longer on the market. Have you decided to re- list your property yet? . . . If it had sold, where were you planning to go? Why do you think your home didn’t sell the first time? Let’s meet so I can show you the tools and skills I have to work hard and get the job done. Is this afternoon ok or would tomorrow evening be better? Let’s break into pairs and try the dialogue to secure an appointment. Feel free to change this so it’s comfortable for you. Your objective is to get the appointment. Hand out dialogue scripts

What does the Seller think are the Reasons a Listing Doesn’t Sell

What objections should you expect and how can you show that you are different?

Common Objections Lets break into groups to develop dialogue to overcome these objections Each group will be assigned an objection, then present their solution to the class I promised my former agent that I would list with him/her 20 Agents already called me Not moving/listing again for 3-6 months Call me back in a few weeks Allow 10 minutes in groups

Let’s Discuss… I promised my former agent that I would list with him/her Try this… “I appreciate that, but if there was an obvious advantage to working with me and Weichert Realtors, would you be interested in learning about it? Great, let’s set up a time to talk. Is tomorrow afternoon good or is the weekend better?”

Let’s Discuss… 20 Agents already called me Try this… “Really? Of the 1,500 agents who work in this area only 20 were interested in working for you? Let’s set up a time to talk, so I can show you how I can get more buyers and their agents interested in your house. Is tomorrow afternoon good or is the weekend better?”

Let’s Discuss… Not moving/listing again for 3-6 months Try this… “If I had a buyer looking for a property like yours, would you like me to show it? What if they liked it and we came to terms, would you sell it? Then lets meet so I can start working hard for you and find that buyer! Is tomorrow afternoon good or is the weekend better?”

Let’s Discuss… Call me back in a few weeks Try this… “What if I could sell your house in the next few weeks, wouldn’t that be better than calling you back? Let’s meet so I can show you how my customized marketing plan will attract the right buyer. Is tomorrow afternoon good or is the weekend better?”

Expired Diagnostic Questionnaire Use as a Guide to Stay on Track during your Initial Conversation

Expired Diagnostic Questionnaire Do your homework before your Appointment 31

Expired Diagnostic Questionnaire 32

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What will YOU bring to be best prepared? Get Face-to-Face If you can’t reach them by phone, Drop by when the sellers are home . . . What will YOU bring to be best prepared? NOTE: If the Seller says they’ve already re-listed, thank them for their time and wish them success in selling.

Build a packet What would you include? Weichert Brochure Expireds Brochure Weichert Internet Strategy Video Office Sales Statistics Your Bio with links to your social media accounts (YouTube Channel, business Facebook Page, etc.) References from past customers

PTA and back up comps (in case the discussion goes into Pricing) Getting to Know You Listing Portfolio PTA and back up comps (in case the discussion goes into Pricing) Market Update (trends and pricing) Expired Brochure Expired Diagnostic Checklist Listing paperwork You may not need all of this, but it’s best to be ready.

Your Best Door Opener! What’s your best door opener? What do you say when they answer the door?

Example Door Opener Smile Dress Professionally Hand them a Yellow Rose “I know your home sale didn’t go as planned . . . I would appreciate the opportunity to help you figure out what happened and show you what I can do.”

At the Appointment Continue to build rapport by… Letting them vent again. Empathizing with them. Ask key questions about why they think the house did not sell with their previous agent. Set expectations. Give the Expireds brochure and point out a few key pages for them to review. Emphasize what you can do differently. Schedule next appointment or let them know you will be following up.

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Handout checklist and listing Practice Review this COMPLETED checklist Work in groups to discuss Put yourself in the shoes of the sales associate What is YOUR prescription for this situation? What would you do differently to help this seller get the house sold? Handout checklist and listing 52

Let’s Discuss… What were the issues in the original listing that you would change? What tools do you have to improve the previous marketing plan? What would you say to the seller? 53

Suggested Plan of Action Created a customized marketing plan (include interior pics of the house) Do a PTA to educate seller on local market conditions Conduct Open Houses including a Broker Open to receive feedback and validate price Fully market the property – expanded online presence through Weichert.com Social Media, cards, neighborhood calls, etc. 54

Expired Listing Diagnosis Checklist Can you see how this will be helpful during your discussion with the sellers? 55

Your Prescription for the Seller Using this tool, the holes or gaps in the Marketing, Pricing and Condition will be apparent. Discuss solutions with the Seller and show visuals from the Listing Presentation, Market Update and/or PTA that will assist in solving the problems they faced the first time around. Show them what you’ll do differently to get their home sold. 56

Expired Brochure Here are some Expired Listing Brochures for you to use as you meet your sellers face to face. Let’s review . . . 57

Resources on WeichertOne.com

Tips, Techniques and Tools

Weichert University Online Course 61

Thank you and please share with me how your Expired Appointments go!