The expired listing is a great source of business, especially in the market in which we find ourselves today. Why should you work expired listings?

• The Seller may be more motivated now that the first listing has expired because he has heard the reasons why his house hasn't sold to date, and he may be willing to correct the objections.
• The Seller is familiar with the marketing process.
• The listing will give you an opportunity to focus on all the marketing strategies you can offer to the Seller that the former REALTOR^® did not.
• The Seller will be more motivated to adjust the price.
• The Seller will be easier to negotiate with the second time around.
• The expired listings are a source of business that appear on a daily basis on our Flash sheet.

Hopefully, I've convinced you to consider working the expired listings.
Here are a few tips on how to do it.

• Call, face-to-face meeting, or mail a note to the expired Seller. You can say something like, "I noticed that you recently had your house listed with XYZ Realty, and according to our MLS, it has recently expired. Are you still interested in selling your home? "
• And, of course, be sure to inquire if the Seller is currently working with a REALTOR^®. (You don't want to interfere with the agency of another company)
• If the Seller responds that he is interested in selling his home, offer to come by, at his convenience, to preview his home and to leave with him some important information. (You may want to leave some information about you and your company)
• Set another appointment to come back to review with the Seller an updated CMA and your marketing plan.

When you come back, you should have a packet of information that you will leave with the Seller.
What will you put in your packet?

• An updated CMA
• Your resume
• Your marketing plan
• Copies of a few ads, postcards, and flyers that you normally create for all your listings.

Depending on your degree of knowledge of technology, you can make your presentation through a Power Point program or a Presentation Booklet. Here's what should be included in either type of presentation.

• Information on your company: number of offices, service areas, market share, awards, and community involvement.
• Information on you: years of real estate experience, awards, letters from satisfied clients, and community involvement.
• The process: start with a copy of your marketing program. Everything should follow in a logical sequence from your marketing program. Show a copy of the listing agreement, copy of the required disclosures, a Fact Sheet, copies of ads, postcards, flyers, a MLS Fact Sheet, and a Sales Contract. End your presentation with a SOLD sign, indicating that it will make you, the Sales Agent, and him, the Seller, very happy when you place this SOLD sign in his front yard.

Looking for business? Well, here's a source for you. Think about it!

See you next week!

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