When the market shifts, you need multiple revenue streams to ensure your longevity in the business. Expired listings are a way to keep your business fed. Here are some expired listings systems and scripts to get you going.

Low-hanging fruit in real estate are expired listings and FSBO. Those whose home has expired or is listed FSBO have already asked for help and did so because they didn’t have anywhere else to go. As an agent, that’s a great sign for you to reach out and come from a place of service. About 80% of FSBO’s end up listing with an agent. And a large portion of those that don’t list with an agent STILL end up paying a commission.

The first step is getting the data, and the next step is knowing what to do with the data. Depending on your area, there are services that can be used to acquire the data. MLS is another great resource. There is no one thing that is going to work. You’re going to have to try different approaches and see what works for you. 

Here are a few ways to approach Expireds and FSBO’s:

• Phone Calls: You have to make contact. These people have raised their hands and are looking for help so picking up the phone will allow you to offer your help to them. By making the call, you can make some money!
• Text Messages: Try to stand out in your text messages…maybe shoot a video and say you wanted them to have a face with a name and if there is anything that you can do to help them, that you’d love to connect. Keep it simple, get your point across and you’ll stand out. With a little extra effort, the business will follow.
• Letters: There is no ‘magic’ letter. The content of the letter doesn’t always necessarily matter, but the fact that you actually take the time to send a letter, does. If you put the time and effort in and do the work, you will get rewards. Try to incorporate a handwritten element in every letter that you send out. It’s also important to have a call to action when you send a letter. The magic comes from the systematic follow up. 
• Handwritten Notes: Handwritten notes convert 3 to 5 times better than a standard letter. It is a long game and there is power in your notes. When sending notecards in the mail, try to make it stand out. Colored envelopes will catch people’s eyes and make them want to open them as opposed to just sending in a standard white envelope. It costs the same and people are more likely to open them. If people are more likely to open the envelope, you’re more likely to convert them into a client.

Objections are part of the process and they will typically be the same. If you learn and know what the objections from Expireds and FSBO’s are going to be, handling them will be a piece of cake! If you don’t practice what you are going to say with your peers, then you end up practicing on your clients. There are many more ways to target Expired and FSBO listings. No matter which one you choose, always come from a place of compassion and service and understand that they went through a struggle. There is a story and a person behind every “lead, so connect with them and sympathize. Having empathy and asking questions will lead you down the path where you can be of service to them as an agent.