About this episode
Realtors: Expired listings are an amazing goldmine of opportunity! Expired listings are the most obvious answer to taking (and selling) more listings. Your job in real estate is to be a problem solver. There is no greater problem for a motivated seller than figuring out why their home didn't sell! You are a licensed real estate professional, and they have a home to sell. They have shown a willingness to list. It makes a lot of sense for you to be speaking with each other! To quote Tim Harris, "If you do not yet have the wealth you desire and deserve, it's simply because you have yet to figure out how to help enough people reach their goals. When you help enough people achieve their goals, achieving yours will follow!" Expireds clearly need your help!! How to Make Millions with Expired Listings... 1. Expired Math. Let's say you are committed to earning while you learn, that you become only *somewhat* efficient at prospecting expired sellers, *somewhat proficient* with the scripts and closing, and you win *some* of the time... The math is still on your side! Example: When you have 10 conversations (contacts) per week with expired sellers, 2 to 3 will relist immediately. At least 1 will list with you. When you do this just two weeks per month, using the average sale price in the US today of $400,000, netting you after 20% expenses: $9600 per transaction, that's 2 x $9600/month = $19,200 per month x 12 months = $230,400. This is if you are only somewhat ok with this skill. This is while you're learning! Secret: Most of our Premier Coaching clients are or are becoming far better than 'somewhat ok' at this lead generation method. Many of them can set one Expired appointment per DAY, take two listings per week, and are grossing over $1 million per year. WHY? Because it's not just the expired listing that you are selling, it's the additional business it creates for you. How do you get phone numbers for sellers of expired listings? RedX is a company that can supply you with all the intel and makes you super efficient in your pursuit of expired listings! Text the word RED to 47372 and receive your discount. 2. The Ratios of contact to conversion are the best of any opportunity you have in real estate. When you're good at the script 1 in 20 will turn into listings for you. When you're great at the script it will be 1 in 10 and on some days even better than that. It's extremely efficient. 3. Expired Listings have been market tested. You know what the wrong price is in most cases. Sometimes you can relist at the same price and sell the house right away. Either way, the days on the market for relisted expired homes are way fewer than fresh listings, especially in a shifting market. 4. The agent you would have competed against has failed to sell the home. The seller is now serious about getting 'a fresh approach' from someone who will solve their problem. 5. The seller of an Expired home will correct any negative feedback for you when you relist it, versus resisting when it was a fresh listing. 6. The listing will create more business for you as a result of all of your efforts to sell it. Follow our systems in Premier Coaching to turn one listing into multiple sales! 7. The scripts are logical and easy to learn. Remember that you're there to solve a problem, speaking to (almost always) a very motivated seller! Remember your 'Expired Math' that we discussed at the top of today's podcast. You don't have to make thousands of contacts, create an elaborate drip system or pay a huge referral fee to make millions listing (and selling) Expired homes! Need more help? Get involved with Premier Coaching by simply visiting PremierCoaching.com so we can educate you, motivate you and keep you in action!