Before I write another word, I want to state, for the record, that I have absolutely no experience prospecting to expireds or FSBO's. So take what I say with the proverbial grain of salt.
And, please note... this blog is not meant for outgoing, extroverted, natural salespeople. You guys don't need my help! I'm writing for the Reluctant Salespeople among us - those who hate to take the risk of bothering or pestering anyone ‘cause that's just our nature (and no, we're not weak salespeople or scaredy-cats, we're just different from you).
Okay, enough disclaimers & disclosures.
If you choose to pursue expired listings and/or For Sale by Owners, here's a tip.
Go for quality, not quantity. No, I'm not referring to cherry-picking your listings (although you certainly may!), I mean that you should only attempt to list the homes of people you feel comfortable with. People you have rapport with. If you call up a FSBO and you can tell immediately that you aren't comfortable with him, just say NEXT. Don't fret about losing that particular seller to someone else, just move on. You don't need every listing in town!
I promise you, there are plenty of expireds and FSBO's out there that you will really connect with, and the good news is that these folks probably won't connect real well with the more salesy-types who aggressively pursue them. They'll appreciate your laid-back, non-aggressive style; in fact, you may be just the breath of fresh air they've been waiting for.
However, this said, I'm not letting you off the hook just yet with regard to your prospecting efforts...
When considering implementing a FSBO/expired campaign, ask yourself this question:
"Am I willing to make phone calls and knock on doors to list these sellers?"
If the answer is "No, I'll just bombard them with mailers," or even "No, I'll just mail them a letter and leave a voicemail during the day when I know (or hope) they're at work," then... don't bother. Find another way to build your business. To create the rapport that is necessary to make this campaign work, you have to talk to the people.
This is why I never did FSBOs or expireds. I knew I didn't want to call anyone or knock on any doors - I prefer to stay in my comfort zone, which definitely does not involve picking up the phone to call a stranger or knocking on his door at 8:00 am. And if you decide the same, that's fine!
However, for those of you who are looking for a respectfully aggressive (yes, those two words can co-exist) way to prospect to expired listings, check out http://activerain.com/borino. It's good stuff.
Copyright Jennifer Allan 2007
In 24 years in the biz, I hate cold calling and although I have knocked on doors many years ago, I don't have the stomach for it. However, I have been successful with mailings and fsbo's and expireds call me. One mailing isn't going to do it. You need to have a system and keep it up. But if you work it properly you will get appointments and listings.
I will say that last year I didn't get any expired prospects (& in the past I was very successful with them). However, in our ever slowing market I think that will change. I have been too busy this year to bother with mailings but as things are slowing down I think I'll start it up again.
Nice disclaimers.....more things should come with those! lol
Well thought out point, and very very true. If your seller and you get along from the start, it makes everything easier in the long run.
I love the disclaimers....got to force the issue. Can never teach drive, but can teach self-confidence.
Jason... ah... but introverts ARE very much on the ball! Thank you for the compliment, though!
Fellow introverts - I'd love to hear any tips YOU may have for prospecting to FSBO's & Expireds...
Bryant, Yeah, I'd heard a rumor that you had some good stuff going in the Expired department... simple is good...
Stephen - I really think that personality is what sets any agent apart from the competition. Some people mesh, some don't. But if you're true to yourself - you'll get the business you want.
I've just really started going after FSBO's. I don't enjoy knocking on doors or cold calling, but here's what I do. I will simply call the FSBO and say something to the effect of "Hi I'm Shaun with MA Allen Realty Group. I understand that you are selling your own home, and I'm not calling to try to talk you out of it. I'm just calling because I'd like to drop of some information about me, my company, and what I could do for you just in case you change your mind about listing down the road".
I'm finding about half of the people I talk to are telling me yes. I'm about to get my first listing from doing this (if she doesn't get a contract by the end of this coming week). We hit it off on the phone and she's called me a few times with questions.
Shaun - I think you've come up with the right approach for you. The most important thing is that you feel comfortable with it, so you can be sincere when you open your mouth. Keep keeping me posted, k?
Rob - Amazing realization, isn't it?
Excellent post. I agree completely that you should not pursue business with individuals you do not feel comfortable with. There are plenty of opportunities for all of us to have success within this industry working with people we connect to. When you have that "connection" it is not a problem being an introvert =)
Best,
Scott
thank you for the helpful tips.