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. 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 deals from Mojo for you to use. Sart 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@ 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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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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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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