Ok, posted a message last week wondering if expireds were worth working because one of my mentors at the office said no, but the board overwhelmingly said to do so. So, I appreciate all your input and info, and will proceed accordingly. But before I got started I wanted to know your thoughts on working FSBO's also. If I had to choose where I spent my marketing money between the two...would you go with expireds, or FSBO's? Also, if expired is once again the answer, has anyone used REDX expired listings service? I was looking at using their software to manage that effort. Again, thanks to all of you for the wonderful input...this board has been priceless for a new agent like myself.

Don't use any of that stuff.

You can accomplish this for free.

Get up, search the MLS for expireds. Drive to the houses, knock on the doors. Statistically, phone calls and letters do you almost no good at all. Your chances greatly improve when you meet with them face to face.

For FSBOs, just check your local paper, drive your farms or areas you focus on. Note the for sale by owner signs. Knock on the doors first, then call them if you get no answer. If the sellers are on the do not call list, do not call them to solicit a listing. If your not comfortable risking the DNC thing, just return to the house a few times till you get an answer at the door.

Good Luck,
R

What is your face-to-face approach with a FSBO? What do you say? What do you give them? Any advice is greatly appreciated.

I've approached my share of each and both work at different times. Lately I've been having good luck with expireds because I have a much more hands-on approach than many of the realtors in town. Just last night I gained a listing in which the home was priced right and beautiful, but the last agent never even bothered to take pictures for MLS.

In either case, I don't think you need to spend any money beyond what you would normally spend on basics for a listing presentation (paper, ink, etc.) Both approaches to finding listings are best done with personalized service. As someone earlier said, knock on the door. If you can't catch them at home, leaving a listing packet or mail them something. Chances are they've had several agents contact them since their listing just expired. Make yourself stand out!

As for paying for FSBO listings through a service, don't bother. There's an agent in my office who has that program and passes on all the ones in my area to me. I seldom have time to work them. The information is very limited and usually outdated since it only takes a day or two for most FSBOs to list with an agent. Instead, be proactive and search on your own.

Robin Evans

I use the Red X software and it's a nice system to take a lot of the time out of doing it. The software scrubs the Do Not Call list and also looks for phone numbers etc. It does all this in about 2 minutes and save a lot of time and hassle of going through the "Hot Sheet".

I use the RedX system for expireds and it is money well spent. I simply do not have the time to search the tax records, criss cross and every other service looking for names and numbers. RedX does this for me including absentee owners. Of all of the services, systems and everything else that I have spent money on, RedX has served me the best. By the way, I am not a paid employee just a satisfied customer.

I also work FSBOs and that pays off as well but it takes longer than expireds.

Make sure that whatever you do, you develop a system and stick to it. Too many agents try something once and if they don't see results, then they move on to the next thing.

Start off with an offering of some kind. Maybe its a little document on the top 10 things that can go wrong with a transaction when a real estate agent is not involved. Give them a list of the solds in their area.

I want to give them something that gives them good information and also lets them know that I have what it takes to help them, should they want that.

On these, I just trust the statistics. Odds are, this seller is eventually going to hire a real estate professional. I just work to be that person. I will contact them weekly with the latest market info, or whatever I might have come across in the real estate world. I will end all my visits with, "If you decide to go with a real estate agents help, please give me the opportunity to demonstrate why I would be your best choice."

Shake hands. Give them another card. (Which is very redundant since every piece of paper you have given them not only has all your contact info on it, but also has your card stapled to each page.)

bye bye.


Good Luck,
R

Sound advice and it works.

Even the Bible says to do it.

Matthew 7:7

"Ask, and it will be given you. Seek, and you will find. Knock, and it will be opened for you."

Be the askingest, seekingest, knockingest Realtor in town and you'll do well.

Don't ask, don't seek, and don't knock and not much of anything will happen for you.

With expired listings.. it is often the first apparently live agent to the door after it expires that gets the listing. Letter have very low effectively and phone calls are often ill received. When ever your door knocking it is best to have something to hand out.

Brochures with the photo of the house worked for me. Microsoft Publisher allows you to develop a template and just add the photo, address and print. For the real thing add property characteristics but the initial photo shows you at least spent a few minutes considering them.

FSBO is typically a longer process, some gurus say 4 to 5 contacts are required. Here again it is important to provide something "useful". I have found that a pamphlet on how to calculate estimated closing cost to be very effective, how to pre qualify buyers has also been effective, same with security recommendations on showing homes for FSBO's is useful. All provide valuable and accurate information, but also in a less blatant way, show the FSBO that a Professional can probably do a better job.

Ok, I am going to start working expireds. Wanted to throw this out to the group and see what the opinions were about using this approach to them. Basic progression:
Knock on the door, when they open, I inform them I noticed their listing has expired. For this reason I wanted to stop by and gather their feedback as to why they felt that the home did not sell. (rather than trying to hard sell them up front, I am giving them the floor to vent, and show them i want to listen to them)

(I could maybe explain that I like to do this because this type of feedback helps me to make sure that I am on top of my game, and improving my skills for my clients?? thoughts?)

After getting their feedback, let them know how I can use my strengths to overcome some of their challenges with previous listing agent.

THEN, at this point is where I am a little back and forth. Do I want to CLOSE them and seem aggressive at this point? Or do I want to just ask them to consider my information, and give them a time I will call them back to get their decision?

Ok, any comments on this I welcome!

Shaun,
Good for you to go to the door. Im my opinion the just checking for feedback thing is a little transparent. I had good success asking if their home was still available. This makes them think you may have a buyer so their guard isn't up as much. They know the listing has expired as they've either been counting down the days till they get rid of the last realtor they used or the phone has been ringing non stop since 7 a.m. from realtors asking for a listing. The seller will tell you they took it off the market rather than say it expired. I would say oh too bad, it looks like a nice home- and now comes a bit of the Mike Ferry dialogue- use as much or little as needed till they warm up to you. Compliment them again on their home, sound excited about it.

How long were you on the market?
Did you get any offers?
Where are you moving too?
Why do you think it didn't sell?
Was your home held open?
Did you have a broker tour?
How many showings per week did you get?

Your asking these questions to warm them up for the big question:
I didn't see your home while it was on the market, I wonder if I could take a quick peek at it while I'm here?

Once inside you've got an excellent chance to close for an appointment to show them how you are different than the last realtor. You have to ask for an appointment! They won't call you again once you leave, they say I'll talk it over with my Husband and I'll let you know. They will not call you! You have to ask them right now while you are face to face if they would be interested to see where the market is now as it has changed in the time they were for sale, and you will also provide them with a customized marketing plan that will work for them. You're going to be working in their neighbourhood again tonight about 7, would it be okay if I stop by again and talk to you and your husband?

All very good feedback @ Fraser Heights Agent.

One quick question for everyone. When do you think is a good time to hit an expired? During the day, it would seem that people would be at work so you would avoid the face-to-face that is your primary goal. Also, what do you leave in the case the owner isnt home? Just a business card or more?

Where can I get the RedX software? Does anyone have a website? TIA.

Never mind I found it. Sorry.

Make sure you call your local MLS and ask if it's compatible with the RedX software. Mine doesn't and I was told probably never will.

The majority of my business is expireds and FSBO, COI, but I work expireds the most. It's fun competing with other agents, especially after one didn't get the job done. Just don't pitch your prospect the same dream they were sold on that they've been regretting for the last 90 days.