Ask anybody who makes his income selling homes in Custer what he fears most and he’ll tell you, “No recent listings!” It takes time to list, market and sell each home, so guaranteeing a secure income in real estate necessitates a unceasing source of new listings. That’s why other agents’ expired Custer real estate listings are such a gift! They can become a reliable source of income for your company.
Hey, Isn’t That Poaching?
No doubt you’re a genuine professional, and you work hard to uphold high ethical standards. You might be an agent who regards targeting expired listings as “poaching”.
But let’s examine the truth: the homeowner listed their Custer real estate with an agent who was unable to get it sold. Once that listing has expired, statistics establish they’ll probably want to list it with someone else. And why shouldn’t that someone else be you?
After all, none of us has a promised “relist” on any Custer real estate we don’t sell! Marketing to somebody with an active listing is a “no-no”, but picking up expired listings is simply good occupational strategy.
Put Yourself in the Homeowner’s Shoes
To build an effective marketing plan for expired listings, you must initially put yourself in the homeowner’s shoes. How does it feel, now that you’ve (hopefully!) kept your house neat and tidy for months, made yourself scarce every time the agent planned a showing, and, truthfully, had your hopes high, to not see a “SOLD” sign in your yard?
It’s maddening! After all, the homeowner usually has much more time, money and toil invested in selling her house than the agent. That’s why, at the end of the listing period, you’ll frequently encounter an discontented homeowner. You should definitely keep that in mind while developing your expired listing marketing plan.
A Superior Plan Gets the Listing
So, what works in a listing presentation to someone whose Custer real estate sat there unsold? Three words, “A Superior Plan.” There are, naturally, market factors that make it exceedingly hard to sell homes at certain times. But the majority of the homes still on the market after a number of months are there for one of two reasons:
1) The homeowner refused to follow the agent’s suggestions for making the home desirable to likely buyers.
2) The agent wasn’t working very hard to sell Custer real estate.
The home sometimes doesn’t sell because it’s dark, dirty or crowded. Perhaps the owner wasn’t convinced that intense orange carpet and a leaky roof discourage buyers. If you’re dealing with a lethargic seller, your responsibility is to assure them their labors will pay off in a faster sale at a higher price.
Alternatively, the previous listing agent may have come on solid throughout the listing presentation, but dropped the ball on advertising the Custer real estate. We all know agents who host an open house or two (mostly to gain additional listings), put an announcement in the Sunday paper for a few weeks and blame the market when the home doesn’t get snapped up.
To convert a new listing from an expired one, you must be the agent with a superior plan. Tell the homeowner precisely how you’ll market her home. Let her know that selling her home is your main concern, and advise her specifically how you’re going to work to make it happen.
If you can overcome her disappointment with the real estate business, you’re on way to becoming her next agent. Try targeting expired homes in Custer listings in your area, and be geared up to present a better marketing plan. That’s how expired listings can develop into a gift to your real estate sales income.
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