Sherri Johnson – Create

Create Sales for Your Clients With These Expired Prospecting Tips

By Sherri Johnson

One of our coaching members recently closed on a $1.5 million estate property that he generated from contacting an expired listing. He initially didn’t want to contact expired listings, but with lower than usual inventory, it was time to get creative. My expired strategies got him the lead and resulted in a double-sided sale within two days.

It’s easy to sit back and “wait for something to come up in the MLS.” And while everyone does it, quite frankly, it’s lazy. Prospecting expireds may require different selling skills, but in the end, you’ll be creating inventory for your buyer clients and solutions for expired-listing sellers to help them achieve their real estate goals.

We tend to “assume” that every property has sold quickly and garnered multiple offers. While I would agree that most properties listed in the last 18 months have sold quickly and for even 110% of their list price, there are many overlooked opportunities that have expired off the market.

While sellers are concerned about the perceived lack of inventory issue, you can provide other options for finding your clients a property with these proven and creative sales strategies.

1. Expireds are the most qualified, free leads. I’ve been saying this for over 20 years. Expireds are the most qualified because we already know they want to sell, or they wanted to sell in the past and may still want to with the right approach and solution.

2. Search past expireds up to 18 months. Go back into the system and find the expired listings in your market, searching as far back as 18 to 24 months. I promise this is not a waste of time.

3. Strategically contact the expired sellers and secure an appointment. You can get an appointment by adding value and providing them with value-driven solutions to help them sell their home and buy a replacement home. Master the delivery of the script and you’ll get an appointment every time. This is your opportunity to have a conversation with the seller and evaluate whether it’s a possible home for your buyer.

Prospecting expireds may require different selling skills, but you’ll be creating inventory for your buyer clients and solutions for expired listing sellers.

4. Convert the expired lead into either a sale for your buyer or a new listing. If the property isn’t a good fit for the buyer client you’re working with, no problem. This is where you pivot and discuss helping the seller with a plan to sell their home and help them move.

While searching for expired listings may look different than what you’re used to, this type of creative prospecting is the exact solution you need to help find your buyer clients the property they want to purchase. RE

Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting. Johnson offers individual and group real estate coaching, and is a preferred coach for multiple national brokerages. She consults and speaks regularly for many leading industry organizations, including RISMedia, NAR, McKissock Learning and Homes.com.