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#38 of 50 Ways to Riches in Real Estate - Expired Listings

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So, it's a slow lead day and you decide to check out today's expired listings in the MLS, over coffee. You notice that there are a few that are not too far away. You were planning on doing some door knocking today anyway and a few of these expired listings are in the same general area you are going to anyway. Put them on your list and drive by.

Be sure your car kit is well stocked and neat before you head out. It contains items that can be used to help pick up the expired listing. On the way, stop and pick up some donuts or a few pies, or other baked goods for sharing (and eating).

You'll want to have price comparison information for the area the listing is in. For yourself and for the owner. You'll want to have these answers if they ask. Consider, this owner has already been through the process at least once, so they are probably pretty savvy. You will need to be as well.

After you've done the drive by and assessed the place. You might decide to go knock on the door and see if the owner is available and open to a conversation with you. Take the baked goods (with your card taped to the box) and leave them as something for them to remember you by. Offer them the pricing comparison information and ask if they intend to re-list.

Perhaps they have a story good or bad about their last agent. If so, they will probably tell it to you. You can learn a lot from listening to their story so taking the time to listen could be beneficial. Perhaps, listening was what their last agent didn't do and that is what is making them consider a change. Knowing that listings expire for many different reasons, listening to the owner might let you know why they let the listing expire. If you can learn why it expired, then you can offer a better plan that the other agent did to address that.

When they get around to asking about you, you can tell them that you are currently going door to door. This will impress them as it shows the level of dedication you are giving to your work.

As you are leaving, open the trunk and show them your car kit. Show them the sign kit, the extra baked goods, etc. This will impress them with your level of preparedness. Offer them some bottled water (with your cards taped to them). If they have a dog, give it a treat, after asking if it is ok. This endears you with pet owners (and the pet). If you think they might be receptive at this point you can show them that you have listing contracts handy and can get them signed up right now.

Convincing them to list with you could be that simple. They might just appreciate your friendly attitude and your dedication enough to sign your listing agreement right then and there. If not, that's ok, leave them your cards and wish them a great day. You have made your impression and left them your contact information. That was the goal.

If door knocking isn't your way, you can use direct mail. Send them a letter immediately offering your services along with a price comparison sheet of recently sold listings in their area.


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