Why Cold Calling Expired Listings is Important

Why Cold Calling Expired Listings is Important

The Results will depend on your skill…

Some of the most successful real estate agents in the business specialize in listing homes that did not sell with another agent the first time; these are Expired Listings.

An expired seller has two hands in the air. One hand says, "I want to sell my home." The other says, "and I'm willing to pay a real estate agent to do it!"

Conversion rates for prospecting expired listings are high, and it is a very effective use of your time. People who own a listing that just expired often intend to sell their home quickly. These phone calls are usually short, which allows for more contacts in the same amount of time as other methods.

If you choose this method, you will compete with very few highly skilled agents and many limited experienced agents who will do it for a short period and then cease the activity.

You can call listings that expired yesterday or listings on the market that expired six months to three years ago. For sellers that expired in the past six months or longer, you will approach them with the best script.

If you like this topic you should also check out the CPI Scripts for Real Estate Agents.

• If the market has increased in value since they were last on the market, say,

"Mr./Mrs. Seller, I see that you were intending to sell a few years ago and could not do so. Now that the market has increased x percent since you were on the market, would you be interested in selling?"

• If the market has decreased in value, say,

"Mr./Mrs. Seller, I see that you were intending to sell a few years ago and were not able to. Would you be interested in selling today?"