If a Los Angeles property owner cancels or withdraws a listing… or the listing naturally expires because his property didn’t sell, then it’s very likely that that owner will soon be inundated with real estate agents and brokers cold calling him.
LA Realtors are typically using RedX / Landvoice to find property owner phone numbers of expired listings, but most of them have not worked on the fundamentals.
If you’re a real estate agent calling on expired listings, then being number 50 or number 100 on a string of calls the day a listing expires is a dismal proposition. But whether you call sooner or later on a recently expired listing, the main goal should be to have a serious, professional and authentic conversation with the property owner.
Try to determine during the conversation whether or not the property owner had a real reason for listing the property, especially in this market. Questions to ask:
- What was the reason the owner listed the property in the first place?
- How did the owner pick the previous real estate agent?
- What prevented the property from selling?
- Has the motivation for selling the property continued?
- What is the time frame for accomplishing the move?
In a world where real estate agents are inundating property owners of expire listings, it’s critical to work on the fundamentals of what the owner was trying to accomplish when the property was previously listed.
Don’t over-qualify the property owner. Instead establish the level of interest in selling the property still (is the owner a seller?), the motivation for moving (what is the goal of any of this?), and what the time frame is to accomplish that goal (near term or some day far far away in the future?)… then if it makes sense, as for an appointment (because the owner is a seller, has a serious goal and want to make it happen soon).
Actively listen, be professional, and that alone can sent you apart from the other 99 agents cold calling expired listings.
Questions? Contact David Bramante for more coaching advice.