If you’ve been in the real estate industry for more than a week, it’s probably already apparent to you that if you want “NOW” business, you need to prospect Expired listings.  You can realistically take 2-3 listings a month just by talking to Expireds! When you’re prospecting Expireds you need to convince them that you are the answer to selling their home; that you will save them hassle, and ultimately net them more  money in their pocket. Remember, if you don’t convince them of this, someone else will.

Sign up for a Service

Don’t waste your valuable time. You came in this industry to make money, didn’t you? You need to begin to treat this business like a real business; don’t fall into the trap of performing minimum wage work. Sign up for a service which gives you a list of Expireds every day, there is no need for you to spend hours each day tediously finding the Exipreds. Every hour you are prospecting is worth $500, $600, or for some of you, $1,000. Most top producers use companies like REAP (Real Estate Assisted Prospecting) to deliver Expired listing leads every morning. If you are focusing on calling Expireds have someone else do the “busy” work for you. At the same time, since there are so many expireds to talk to, get the Mojo Dialer to build your efficiency.

Be First

Keep in mind that in most states you’re technically not allowed to call prospects before 8am. It’s up to you to decide what time you want to start calling. However, one thing is certain, in most markets, if you’re calling them at 8:30am, you’re probably the 5th-10th caller.  Many agents have tremendous success by calling around 8:00am. Now you need to just make sure you get to the office by 7:30am so you can be at the office getting prepared to start your day.

Use a Script

If you’re not using a powerful script, then you’re setting yourself up for failure. There are many scripts out there that work, I have found that Mike Ferry’s scripts get the best results ( Mike Ferry Expired Script). Some of you may not like Mike Ferry’s scripts or beliefs, which is fine; don’t use Mike’s, but it is critical that you  find a script  that works for you and use it.

Compliment Them

When someone says something nice about you, praises or compliments you, doesn’t it feel good? Doesn’t it “lighten you up” and somehow “disarm” you? When you’re talking to an Expired, use some of the following:

• You strike me as someone with a lot of common sense…
• You’re definitely smart, I can tell that by talking to you…
• I can certainly appreciate your perception on the market…
• You definitely a smart person, that’s clear to me…

No, you’re not being sarcastic and no, they won’t reject it. Think about it… who’s going to say “No, I don’t have common sense…” After you give the compliment; attach a closing statement to it. For example:

“You strike me as someone with a lot of common sense so obviously we should get together… are evenings or afternoons better for you?”

By attaching a closing statement to  your compliment,  you are asking them a “sort of have to say yes”  question.

Close for the appointment

Why is it that after agents do a great job talking with prospects they either fail to close for the appointment or only make one attempt to close? Memorize these phrases:

If I can get you the money you want in your pocket and sell your home in the time you want, would that pose a problem for you?

What’s usually a good time for you and your spouse, afternoons or evenings?

If we were to meet, what day would work for you?

I’ll be in the area, so let’s tentatively set something up. I’ll call you before to confirm and if we have to cancel, it’s no problem, we’ll reschedule.  How does tomorrow at 5pm work or is 6pm better for you?

Consistency

You may get lucky and call an Expired after reading this and set an appointment, or it may take you weeks or even months before you set an appointment, but remember…consistency is the key.. Anyone can spend 2 hours a day calling Expireds for a week, but who can do it for 1 month? 1 year? Now is the time for you to take action and get to work. As an incentive to get you started we have obtained coupons from both REAP and Mojo your use. Subscribe to one and start calling!

Stop fretting over the expiration of the $8,000 tax credit; start explaining how waiting saved your clients an average of $32,000! For an easy to follow script on why buying now makes great sense, watch this video:

It’s 8am (hopefully!) and you’ve probably just pulled in office parking lot. You slowly walk to the office door to start your day. As you finish settling down, you stare at the phone and begin to think about what you can do to avoid prospecting…. We can help! We did a survey on neilschwartz.net and had thousands of our readers reply. So to save you time, energy, and effort, we’ve complied together the top 25 things realtors can do to avoid prospecting:

25. Watch TV
24. Go through spam emails
23. Talk about current news with the other realtors who are avoiding prospecting
22. Play games on your cell phone
21. Shuffle paper work
20. Go to Starbucks, get a Vente coffee and “accidently” spill it on your laptop/clothes
19. Go shopping on amazon.com
18. Go on vacation
17. Sleep
16. Set up lunch with your lender
15. Give life coaching advice to your assistant
14. Go for lunch with your lender
13. Think about why an escrow you have is falling apart
12. Purposely turn off your alarm clock the night before
11. Go get more ink for your printer
10. Prepare for your next vacation
9. Clean your desk
8. Lock your phone and keys in your trunk
7. Go show your buyers some property
6. Purposely leave your house when rush hour starts so you’re late to begin prospecting
5. Download some songs from the Top 40
4. Accidently knock your computer off the ledge
3. Start up an argument with your spouse
2. Pretend you’re sick
1. Go on your Facebook profile and update your status to “is not prospecting”

Now, let’s be serious… if you find yourself doing any of the 25 things above, STOP!

No appointments=no money. Be honest and share your thoughts on the comment form below.

Mike on Money

Comment:  Changing our beliefs in anything including money is very difficult.  Once you get used to something—i.e.  Growing up environment—becomes a habit and then hard to break.   Completion:  People start, continue, achieve, stop, and start again (some never complete anything and therefore never change behavior)

Basic Beliefs About Money

Don’t count your money until you have paid your taxes.  Taxes are the rent you pay for the right to live in the US.

• Sacrifice at least a little now so you can live better later.
• Don’t look for magic ways to get rich
• Remember it is not always wise to diversify with your money—Mike says we buy real estate and art—that’s our only investments.
• Only invest in things you can see on a regular basis.
• Spend time learning about money so you can take care of It.

What Mike Has Learned About Money in the Last 25 Years

• If you’re not working daily at earning a lot of money you will stay where you are forever.
• Never underestimate the power of having a lot of money.
• Every deal I do is critical but I should never do a deal that could ruin your life.
• If I commit to learning something new about sales everyday my money will grow.
• Since emotions are a major part of everyday, remember emotions are exhausting and limit our ability to earn money.
• Our egos are way too big to produce at the level we are producing at today and limit us.
• Our most intimate little fears still limit our ability to make money.  What fear do you have about money?
• Winning is the # 1 fear of most people therefore it is limiting us.
• Losing is a habit just like winning is a habit and therefore losing money.
• The amount of money that I earn is exactly what I believe I should have.
• If you don’t take some risks to change your belief– most of the time you will find the way to make it happen.
• If I want to make money I have to have fun each day.

Mike’s Thoughts on How to Become A Self-Made Millionaire

• Become a big dreamer.  (Never be content) What would my life be like if I really did what Mike said and what the coach said?
• Fall in love with being a salesperson.
• Focus on your strengths all the time (your discipline, smile etc.)
• You have to have a lot of accountability.
• Never consider the possibility of failure.
• If I want to become a self-made millionaire you have to have a clear sense of direction.  The more goals you set—the higher you set the bar.
• Work hard every day—not just on the days you feel like it.
• Spend time with the right people
• Be teachable and be coachable to make a lot of money.
• Be prepared to climb from peak to peak but accept the valleys. Recognize when you are in that valley and get out.
• Develop the ability to bounce back quickly.
• Have to be an unshakeable optimist.
• Dedicate yourself to your customers.
• Develop a reputation for getting things done quickly.
• Remain 100% focused on doing deals—how many deals can you do per week?
• Be 100% honest with yourself.
• Don’t be emotional regarding your daily results.
• Life is not easy and it’s almost never fair.

Mike on Creating Wealth Starting Today:

• I must become an out-of-debt person.
• Get rid of your junk debt first.  Buy things that will improve the quality of your life.
• Create enough income today to save 15-20% of it—starting today.
• Quit trying to buy a name for yourself if you want to make a lot of money.
• Invest heavily in your personal education.
• Create a financial plan ASAP.
• Hire a professional person to assist you.
• Start displaying more self-discipline.

Final Thoughts on Becoming Wealthy

• Carefully decide how much you want to make… be realistic.
• Be sure to spend time with people who have done what you are trying to do
• Becoming wealthy is mental – not physical, starts in my head
• What’s really stopping me from making money?
• Our present environment- sell your goals to your family

A Simple Plan for Turning Dreams into Reality

• Why do we not create urgency?  Because we don’t know what we are after.  Earl Nightingale says “Success is the progressive realization of a worthwhile goal.  (Keep it in front of you and be urgent about it.)
• What are the 3 or 4 most important dreams/goals you have?  Mine are:
  • Be out of debt
  • Have $20k cash flow monthly from investments
  • Vacation l month in Europe each year 4.  $1M cash in bank
• Create a 5-6 page Dream book.  Ex. Net worth of $10M, picture of $10m check, pictures of your life with this money, write out the plan of transactions needed.  Example: Find people who are doing what you want to do.  Why am I not going to create the book?
• Write a plan to make it happen.  If the goal, dream or desire is not specific enough it does not work.
• If you don’t keep reselling yourself everyday it doesn’t work.  Everyday:
  • Write the 5 most important goals each day (because day to day life pulls you down)
  • Write 5 affirmations 10 times each day.
• Write the affirmations that affirm the goal.  Set a completion date.  Am I being realistic—then look at your dream book.
• Make your first thought every morning about that goal.  Set goals in each of these areas:  Physical, mental, family, spiritual and financial.  Summary, write the steps to make it happen and work on the dream book.

Mike On Ego

In real estate any of the following can get in our way of succeeding:

• Our inability to set goals
• The difficulty of maintaining a positive attitude
• Our inability to manage our time
• Poor sales skills
• Lack of commitment to the business
• Uncontrolled ego.  Ego is defined as an exaggerated sense of self-importance
• Let’s remember that our ego has 3 goals:
  • Always have to win; at other peoples expense
  • Always have to be right; at other people expense
  • To maintain the status quo

Question:  How does an uncontrolled ego hurt me the most?

• Stops me from learning new things
• It slows down great communications.
• Uncontrolled ego reduce referrals
• It creates staff turnover
• It reduces profit
• Stops you from doing what your coach says
• Nobody wants to be around an ego maniac for any length of time.

Question:  How is an uncontrolled ego displayed?

• How we approach people in general.
• How we are dressed (to draw attention to ourselves)
• In our presentation style
• In how we promote and advertise ourselves to the world

Question:  How do we solve the problem of our ego getting in the way?

• Remember there is always someone bigger richer, better etc. than you.
• Ask questions which takes the conversation off you—
• Quit talking about yourself—unless it is something dumb about you for a joke or is humorous
• Take the “I” out of all your conversations.
• Try spending time with people who do way more than you do.