As an ambitious real estate agent, you know that expired listings are a goldmine. But, how do you convert these potential leads into closed deals? This guide provides a detailed, step-by-step approach to calling expired listings and successfully closing deals 90% of the time.
Step 1: Preparation
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Before you start dialing numbers or sending emails, you need to prepare. This stage is all about gathering information and understanding the prospect’s situation.
Know Your Prospect
- Research the property details including location, size, price, and the time it’s been on the market.
- Get to know the homeowner. Use public records, social media, and other online tools to learn more about their background, interests, and needs.
- Create a script that is succinct, respectful, and shows empathy towards the homeowner’s situation.
- Be prepared to handle objections. Make a list of possible objections and how you would respond to each.
- Introduce yourself and your agency. Be professional and courteous.
- Express empathy for their expired listing. Show understanding and avoid sounding opportunistic.
- Explain why you’re calling. Be transparent about your interest in their property.
- Offer your professional assessment of why their listing might not have sold. Be tactful and constructive.
- Offer your services. Highlight the benefits they will get from working with you.
- Address their concerns. Listen actively and respond with understanding and solutions.
- Ask for the listing. Be direct, confident, and assertive.
- Follow up. If they need time to think, schedule a follow-up call or meeting.
Organize Your Approach
Step 2: Making the Call
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Now, it’s time to pick up the phone and dial. This step is about making a connection and opening a dialogue.
Create a Connection
State Your Intent
Step 3: Closing the Deal
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The final step involves converting the prospect into a client. This stage requires negotiation skills and resilience.
Negotiate
Seal the Deal
Conclusion: Celebrate Your Success
By following these steps, you can effectively call expired real estate listings and close deals 90% of the time. Remember, preparation is key, and the right communication can make a significant impact. Now, it’s time to take action and celebrate your success in the real estate world!