There are generally only four objections Expired listings will make when called:
I’m going to stay with the same agent.
I’m going to sell it myself (FSBO).
I’m taking it off the market, we’ve decided not to move.
I’ve already found another agent.
Seller: “I’m going to stay with the same agent.”
Agent: “That’s great and what I’m hearing is you feel obliged to your last agent since they’ve invested a lot of time and money in your home, right? Well Mr. / Mrs. Seller you don’t owe me anything and you don’t really owe them anything butyou do owe yourself the very best. It certainly wouldn’t hurt to hear what I do to get homes sold, would it?”
or
“I understand and let me ask you a quick question. If you stay with the same agent, what are they going to do this time that they didn’t do last time? I hope you don’t take this the wrong way, but Albert Einstein said that doing the same thing and expecting different results is the definition of insanity.”
Seller: “I’m going to sell it myself (FSBO.)”
Agent: “After what you’ve been through I understand. You know Mr. / Mrs. Seller you are generally better off to be a FSBO than to be with an agent that did their best yet couldn’t get the job completed.”
or
“I can appreciate that and what I sense is you want to make sure you get the best possible agent for the job of selling your home. What are you looking for in an agent?”
Seller: “I’m taking it off the market—we’ve decided not to move.”
Agent : “I see. Just out of curiosity, if you did sell, where were you moving to?
WOW! Why was that important? What would that do for you and your family if you had moved? If I could show you a way to make that happen, would you be interested?”
“See, I specialize in homes that didn’t sell the first time. Even the best homes don’t sell the first time and it just takes a new approach and new ideas like I use to get homes sold. When could I stop by and spend 15 minutes with you and show you why so many homeowners choose me to sell their home?”
or
“Mr. / Mrs. Seller, if you had a contract presented to you tomorrow would you still sell?
Great, so there is some desire to move, right? You know, Mr. / Mrs. Seller, I specialize in homes that are great, yet didn’t sell the first time for various reasons. Let me ask you: why don’t you think your home sold? What will you look for in the next agent you choose? Let’s do this. I’ll drop by and look at your home, that way you can meet me so at a weak moment you don’t end up with a weak agent. After all, you don’t want to put it back on the market later to have it sit for another 6 months, do you?”
Seller: “I’ve already found another agent.”
Agent: “Have you signed a contract already?”
If Yes, then wish them well.
If No, keep going.
“Great. I would like to apply for the job to sell your home—after all, I specialize in homes that didn’t sell the first time. You know, even the best homes don’t sell the first time around.”
If they feel obligated:
“I understand and what I am sensing is you want to make sure you’re doing the right thing. Correct?”
“Excellent. You know, if you had to go to a doctor because you had an illness and you found out it involved surgery, would you want another opinion? I know this isn’t surgery and yet it is financial surgery on your home. Let’s meet for about 20 minutes and you will see why so many people decide to hire me over other agents. Mr./ Mrs. Seller, if you actually felt you could get more money and a quicker sell, would you interview me?
When can we get together, at 3:00, or would 4:00 be better?”
Monday, July 21, 2008
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15 comments:
Thanks for the great language...this is the perfect time for us to focus on what we say to our clients and prospects especially with the abundance of expired listings.
How about a post on price reduction stragegies?
Bill Byrd
Great post and definitely needed in this market currently. I love the line about submitting a low ball offer and telling the agent, "well, it's better than the offer you had yesterday!".
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The first thing you do business. Real estate agents work for a broker, but do not depend on the order sales people.
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Even the best homes don’t sell the first time and it just takes a new approach and new ideas
It get more difficult to handle the client or prospects when you have expired listing so i always prefer to check my listing regularly.
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With novel agents spoiling the market by not following standards and procedures, many would choose to sell the property themselves.
I have a hard time saying these things because, if the other agent had the home staged well, had good professional photos and listed it on the MLS and it is priced appropriately, they have done 99% of what can be done to sell a house. All the other "marketing" activities are not really designed to sell the home They are designed to use the listing to market real estate services. Don't get me wrong, you have to do that to be successful but it is just happenstance if those extraneous activities end up selling the home. They are not game changing activities.
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