How to Call Expired Listings: Scripts and Strategies for Real Estate Agents
10/21/2024
Calling expired listings is one of the most effective ways for real estate agents to connect with motivated sellers. These homeowners are often frustrated after their property didn’t sell, but they are still interested in moving forward with a sale. In this post, we’ll cover the best strategies for calling expired listings, provide sample scripts, and offer tips to convert these leads into clients.
Why Call Expired Listings?
Expired listings are leads that have shown intent to sell but faced challenges in the process. Here’s why calling them can be highly rewarding:
- Immediate Need: Homeowners with expired listings are usually still interested in selling but are seeking a more effective approach.
- Motivated Sellers: These homeowners have already gone through the listing process once, making them more likely to listen to a new agent’s pitch.
- Less Competition: Not all agents are comfortable calling expired listings, giving those who do a competitive advantage.
The key to success is having a prepared script and a clear strategy to address homeowner concerns.
How to Prepare for Calls to Expired Listings
1. Do Your Homework
Before making any calls, gather information about the expired listing and the homeowner:
- Review the Listing: Understand the listing history, including the asking price, days on the market, and any changes during the listing period.
- Assess the Marketing: Look at how the property was marketed previously. Was the listing description engaging? Were there high-quality photos or videos? Identify areas where you can improve the marketing strategy.
2. Have a Script Ready
A well-prepared script will guide your conversation while allowing you to adapt based on the homeowner’s responses. Here’s an example:
"Hi [Homeowner’s Name], this is [Your Name] from [Your Agency]. I noticed that your property at [Property Address] recently expired from the market, and I understand that must be frustrating. I specialize in helping homeowners like you relist and sell their properties successfully. I’d love to offer a free consultation to discuss a new approach that could help sell your home quickly. Would you be open to a brief conversation?"
3. Set Up Your Dialer
Using a dialer can streamline the process of calling multiple expired listings, allowing you to manage leads more efficiently:
- REDX Dialer: Offers integrated dialing to help agents quickly contact homeowners.
- Vulcan7 Dialer: Includes call tracking, recording, and analytics to optimize your outreach efforts.
- Mojo Dialer: Provides triple-line dialing to maximize the number of calls made in a shorter time frame.
Tips for Calling Expired Listings
1. Be Empathetic and Listen
Many homeowners with expired listings are frustrated. Start the call by acknowledging their experience and showing empathy:
- Acknowledge Their Frustration: “I understand it can be frustrating when a home doesn’t sell as expected.”
- Listen Actively: Pay attention to their concerns and frustrations, allowing you to tailor your response and offer a personalized solution.
2. Focus on What Went Wrong
Once you’ve built rapport, ask questions about why the homeowner thinks their listing expired:
- Was the Price Too High?: Discuss whether the pricing strategy may have been a factor.
- Was the Marketing Effective?: Offer insights into how your marketing approach differs, such as using professional photography, staging, or digital advertising.
3. Offer a Fresh Approach
Position yourself as the agent who can offer a better strategy:
- Highlight Your Experience: Share success stories of similar expired listings you’ve helped sell.
- Discuss Your Marketing Plan: Explain how you’ll use professional photos, videos, virtual tours, and targeted advertising to reach the right buyers.
4. Schedule an Appointment
The goal of the call is to schedule an in-person meeting or virtual consultation:
- Use Urgency: Mention that the market may have shifted and now could be the right time to relist.
- Offer a Free Home Evaluation: Encourage the homeowner to schedule a consultation to understand the current market value of their property.
Best Scripts for Calling Expired Listings
1. Introduction Script
"Hi [Homeowner’s Name], this is [Your Name] with [Your Agency]. I’m reaching out because I saw that your home at [Property Address] recently came off the market, and I understand how frustrating that can be. I specialize in helping homeowners like you turn expired listings into successful sales. I’d love to offer a free consultation to discuss a new approach that could work better for you. Are you available for a quick chat this week?"
2. Marketing Script
"I noticed that your property was on the market for [Number of Days], but I couldn’t find much marketing information online. I focus on creating a strong online presence through high-quality photos, virtual tours, and targeted social media ads. I’d love to share some ideas that could help relaunch your property successfully. Would you be interested?"
3. Pricing Script
"In reviewing your listing, I noticed that the pricing might have been a factor. I’d like to offer a complimentary market analysis to help you understand the current market value and potential pricing strategies. Would you be open to that?"
Conclusion
Calling expired listings can be one of the most effective ways to connect with motivated sellers. By preparing well, using proven scripts, and focusing on a fresh approach, you can convert these leads into successful sales.
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