If you’ve been in the real estate industry for more than a week, it’s probably already obvious 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 these homeowners!
The homeowners who just had their listing expire which means they are already motivated to sell.
When this happens, your job is to convince the homeowner that you will save the day. You will save them the hassle of going through that whole process again and rather by working with you, someone they should have hired in the first place, they will ultimately net more money in their pocket.
Remember if you don’t do this, someone else will. Why not someone else be you?
First things first, sign up for a service.
Obviously as you already know, time is our most valuable asset.
When you became a real estate agent, you didn’t come to do admin work, you came to sell houses and earn money.
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. If you are focusing on calling Expireds have someone else do the “busy” work for you.
The early bird usually catches the worm.
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.
The things people say on tv are well rehearsed.
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.
Everyday Monday through Friday I host a Role Play Workshop .
I created a virtual training environment where we put our students into break out rooms and pair them up with other agents while my coaches and I virtually observe you, critique and give you feedback that improves your performance and delivery.
Be kind to them
These are people that are getting hammered by other real estate agents that are going after their business.
Empathize with them. Relate with them. When someone connects with you, you really feel that don’t you?
You want to create that kind of connection with your prospect. Say things that make them feel good like
- 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 them on 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?
The battle is never lost, as long as you are being consistent.
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? The agents who do this are the ones who are killing it.
Now is the time for you to take action and get to work.
Start prospecting now!
This is good stuff, never knew you had such a sense of humor. I want to copy all of it.
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Neil Schwartz Reply:
September 16th, 2010 at 10:54 PM
It’s all yours to use Tom
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Neil, Thank you for all the great information. I will start working on this as of today.
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Neil Schwartz Reply:
September 21st, 2010 at 6:26 PM
My pleasure Beatrice, please do let me know how it works out for you.
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Hey Neil,
Like your stuff and your approach. Interested in interviewing any agents? Perhaps we can help each other.
Talk soon,
Geoff Zimpfer
myAgent Toolbox
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Neil Schwartz Reply:
September 29th, 2010 at 9:19 AM
Thanks Geoff. Send me a message on neil@ https://www.neilschwartz.net.
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Hi Neil,
Great post. I use Ferry’s scripts also. Just an FYI he as a great youtube channel with a lot of free content on it.
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Neil Schwartz Reply:
October 26th, 2010 at 10:06 AM
Yeah I’ve seen it, some funny stuff on there.
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Already doing 50+ deals a year….have 40+ listings now….DON’T understand how to dominate expireds, fsbo, AND go after Bank Owneds and Short Sales at the same time….Call me???
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Linda Reply:
May 26th, 2016 at 6:42 AM
Hi Emo,
You had 40 listings? Please show me the technique that you use.
Thank you.
Linda Chong
Century21
CalBRE#01491123
(818) 922-9564
[email protected]
Hablo Espanol
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I’ve been in the business for 2 months, and I haven’t called an expired yet. The reason is because I have no idea what to say, and not many people in my office are much help. However, now that I have read this (and looked at the script), I’m going to give it a shot. The more I delve into your website, the more I like it. Thanks for making all of this information available.
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Anonymous Reply:
June 11th, 2012 at 6:27 PM
I’ve been in the business 3 years. I “hate” scripts. Why not speak from the heart and tell the “truth”. We are professionals not con men. I am busy beyond belief. My first year I made $20,000. Second year $50,000. This year I’m on track to crack the $100,000 barrier.
Most of my business is referral because:
1. I work hard for my clients
2. I am genuine and not afraid to tell a client: ” I don’t know”. I will get back with you with the information.
I hear horror stories from my clients who felt they were being interrogated by some agent using “scripts”
On second thought I encourage the use of scripts. After being subjected to that nonsense. Your ex clients will find me even more genuine.!!
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Neil Schwartz Reply:
June 17th, 2012 at 2:26 PM
Anonymous, congratulations on your amazing success and continued good luck, but in my 37 years in the business, you the rare exception. The purpose of the scripts is to give us an outline of a conversatioon to be genuine, and to help us be honest with clients when we don’t know, and to prepare us to know what we are supposed to know. I think your understanding of the purpose of reviewing scripts is mistaken. That said, it seems that what you are doing is working for you, unlike the vast majority of agents that are struggling to generate business and when exposed to preparing what to say and how to communicate more effectively are able to improve the service they offer to their clients.
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Neil,
Thanks for all your great thoughts . I appreciate you sharing with us even in Tucson Az . Its all ways a pleasure to see you at events . If any agent is not listening to Mike Ferry and Neil Schwartz you are missing the game . Thanks Neil
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Hey Neil,
Do you have more scripts available on you web-site?
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Hi,
What is the best time for doorknocking and cold calling?
In 99% of the cases, they don’t open the door, should we leave them something or come back again??? any ideas or experiences?
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Neil Schwartz Reply:
October 22nd, 2012 at 12:41 PM
Best time is first thing in the morning, because that is when you will prospect. They will open the door 27% of the time based on the stats we keep. Leave a business card at first, nothing that costs more or takes more time to prepare. Don’t overthink it, get in action.
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I unfortunately mam having a horrible time find anyone who wants to role play scripts with me. Any suggestions?
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Neil Schwartz Reply:
January 14th, 2013 at 5:24 PM
Finding role play partners is a constant process. Go to Mike Ferry events, the Mike Ferry sections on both Facebook and LinkedIn, and email my company coaches ([email protected] , [email protected] , and [email protected]) but it is a constant effort. You will not find a few and be able to stick with them but need to constantly prospect for new ones, that is the process.
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Hello Neil first I want to say thank you very much for helping thousands of agents who want to be successful in this business. You are truly doing wonderful things for a lot people.
After talking to the customer, you said to knock ten houses around that house. What is the purpose of door knocking on those ten houses around the customer’s house?
Thank you
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Neil Schwartz Reply:
March 18th, 2013 at 8:53 PM
To ask them if they want to sell their home. Since you already spent the time to drive there, and the gas money, you might as well door knock on 10 hours and tell them their city market stats and see if they are interested in selling their home, that’s your job, right?
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Good day! I know this is kind of off topic but I was wondering
which blog platform are you using for this website?
I’m getting sick and tired of WordPress because I’ve had problems with
hackers and I’m looking at alternatives for another platform. I would be great if you could point me in the direction of a good platform.
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Neil Schwartz Reply:
April 21st, 2013 at 6:29 PM
We are using WordPress, seems to work for us
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I always spent my half an hour to read this weblog’s articles everyday
along with a mug of coffee.
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This preparation for expired listings is great, where can I find more of your training and advice?
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Neil Schwartz Reply:
January 16th, 2017 at 10:25 AM
https://www.youtube.com/user/neilschwartztraining is a good place to start. If you are in town, attend one of our prospecting events. https://www.neilschwartz.net/come-to-the-prospecting-skills-workshop/
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Love this , I will use it now
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