Here’s the scenario – you’re checking the MLS hot sheet for expired listings…it’s a good day. There are more than 30 results showing up. You grab the phone and start dialing for dollars. It’s a scene in thousands of real estate offices every day. It’s also one of the biggest time wasters in an agent’s life. Yes, you read that right, it’s one of the biggest time wasters you can do.
We have nothing against expired listings. In fact, expired listings are a perfect target for agents because these are people who’ve proven that they want to sell and move. Actually, if you approach expired listings the right way, you can make a darn good living on them and them alone.
The problem is timing. Take careful note here, most agents are picking the fruit before it’s ripe. Repeat after me, “I will pick no fruit before its time.” What happens when you join hundreds of your fellow agents all jumping at and reaching for the same apple? You get trampled. You get frustrated. You get lost in the crowd.
Here is a statistic for you to nibble on; a newly expired listing gets anywhere from 15 to 25 calls from agents a day when it first expires. A bunch of agents jumping, reaching and clawing for one apple that’s not ready to be picked or enjoyed…yet. Consider the homeowners whose listing has just expired. First, because their home didn’t sell, agents are likely not at the top of their “I love” list. They have that bad sour apple taste in their mouth. They’re upset. Most important, they didn’t get what they desperately wanted. It is a time when emotions run high. Here is the secret to making a living with expired listings, WAIT! Wait and let the fruit ripen before you start picking. Let homeowners get their bearings back. Let the wound heal.
For additional information and guidance on this topic we have posted an article on our website entitled “Picking the Ripe Apple” for you to review.
Commitment for the Week:
Make A Commitment: I will be patient when following up with Expired listings.
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