So when you call an expired and they say they are waiting til Spring to re-list, what do you do? Do I have no contact until Spring time.. or do I mail them something every month so they don't forget about me.. I'm a little confused about what to do.

Definitely keep in touch. I'd send them an email or something in the mail once a month or so - just a market update, or something like that. maybe call them in two months.

Follow up with them. Give them tips on what they can do now to make there house ready for listing in the spring. Send them market updates. Send them a Christmas card.

Lowes had a DVD you can send them with tips on preparing a house for sale you can send them along with coupons, and its free. Pretty much just keep your name out there.

Just curious (at the risk of barging in on someone else's thread), has anyone considered asking permission to show expired listings to clients? I'm working with a few buyers now and am contacting expireds to see if there is still any interest in selling their home. I figure it could yield a commission on two sides rather than what is often offered as commission on one side in active listings.

I think DNC applies with those individuals, but calling a expired like that could be a great way to get in the door for future listings.

Oh, How do we get the DVD, that would be a good idea. I have a realtor benefits account with them, I see where we can send them a little mailing with a coupon but I don't see the DVD.

less homes are on the market over the winter so there is less competition! fact is that there are less home sales in winter, but less homes on the market. some could argue (me) that winter time is a GREAT time to get on and sell!

Plus buyers are more serious if they are looking around the holidays and neighborhoods are at their best with lights and decorations.

learn the numbers and how to interview for the position and you will truly be "above the crowd":-)

I respect their decision. I will definitely keep in touch though. It seems as if I ask their "permission" to do that. Send market updates, etc. Definitely have their email address handy. THere is so much stuff you could send them to keep them in the forefront.

I have learnt that they might change their minds about listing sooner too. So, call everyone a while.

We have been hearing this too! I overheard another agent in the office saying how he has tons of leads, all for spring listings. I wouldn't want to put my home on the market w/ all that competition. But, i think its normal for ppl to wait for spring, even more normal w/ the current economy/market conditions.
You need to bring it. You need to have good scripts ready in this kind of market. Or, you could try the opposite and drip on them until they do list - so that when they do, its with you.

I keep telling DH "Man- were going to be busy in the spring!" b/c everyone wants to wait - both to buy, and to sell, until the spring. I cant wait for the spring!

Reply:

What would be the advantage of waiting? Then shut up and wait for their answer.

Then you can go on to educate them about the declining market, what would their property be worth today if the market stops declining today and how long would it take to get its value to where they want it to be. You'll need to know avg rate of appreciation in your market during normal times. It usually takes them about 5 years or more to get there.

Our job is to tell it like it is. They need to hear the truth so they can make an informed decision.

We do that. Often, Expired Sellers will say "Well, if you have someone that's interested, you can show it."

I usually say, "We can't present it IF it is not listed".

Then they say they'll "be happy to Give us a One Day Listing to cover you." That's certainly NOT what I want; but my foot is in the door now.

I ask if I can use the Expired Fact Sheet as a basis for presenting the Property, and have them "initial" a copy indicating that it is still correct.

Then I go on to tell them that I'll probably be representing the Buyer, as my Client and will anticipate that I'll will write up any Offer so that I am paid out of the Proceeds of the Transaction, and I have them sign our Standard Agency Disclosure (just like for Customers) having them acknowledge that I WILL NOT BE REPRESENTING THEM. Then suddenly, all they want to know is WHEN I will be showing it ? . . . . as if I have Buyers on a leash.

This is pretty simple when you're dealing only with the Expired Listings of Other Agencies. But it gets a little dicey when it's your own Expired Client. Technically, some of your Fiduciary Responsibilities to that Seller Client (like Care, Obedience, Accounting, Loyalty and (Non-)Disclosure), even after the Listing Expired, continue on into perpetuity. So some Authorities (including some Attorneys) would challenge the Ethics and/or Legality of the same Agency now taking a position in opposition to the Former Client by representing a new Buyer Client in a Transaction.

I haven't seen this matter (of Conflicting or Overlapping Fiduciaries) discussed here; and it may deserve its own Thread. I just know I have felt very uncomfortable, when a former Listing of mine, and one where I possess substantial "Confidential Information" about the Seller, is now listed by another Agency and I am presenting the Property to a Customer (or worse, a Buyer Client). It's a matter to be resolved in the Courts (hopefully without my involvement) But, in the meantime, I can't nickel and dime myself out of business ! You simply can't always take the completely safe route without being crippled in your activities.

I just saw the DVDs are no longer available. Now there is just a link to an HGTV video library.