BAM Key Details:
- In a recent 5AM Call, Lisa Chinatti offered helpful tips on how to take advantage of expired listings.
- On January 4, 2023, BAM will host a live cold calling event for expired listings with Byron Lazine, Tom Toole, and Dan Oneil (aka Danny Deals).
On a 5AM Call, Lisa Chinatti called out a goldmine opportunity for agents to take advantage of as we head into 2023: expired listings.
More than that, Lisa offered helpful tips on identifying and researching the best listings to pursue, getting appointments, and preparing for each one.
And her timing couldn’t be better.
Why expired listings?
The end of the year is prime time for expired listings. In Lisa’s market, there are a total of 7,000 listings that have expired or will expire in the next 30 days.
This means there are more than 7,000 sellers who have raised their hands and said that they are ready, willing, and able to sell their homes—7,000 sellers who maybe got spooked by the volatility of the market or maybe chose an agent who didn’t have the skill to price the listings properly—or maybe who couldn’t sell because they couldn’t buy with a home sale contingency in the ultra-competitive market earlier this year.
January typically starts out slow for the housing market. There won’t be many new sellers entering the market, so you probably won’t be preparing to host any open houses. And with more buyers waiting on the sidelines, there may not be many new requests for showings.
All the more reason to brush up your skills with expired listings.
What you can do right now
To get started, Lisa suggested the following actions you can take, starting this week, to take advantage of this opportunity and start 2023 on a high note.
#1: Do your research
Spend some time whittling the list of expireds down to a manageable number. Filter by the markets in which you have real experience. And filter out those that may have already been relisted.
If your MLS shows you upcoming expiration dates for listings, make note of those and add them to your CRM, so you’ll be ready to go when each date comes.
#2: Practice your scripts with a role-play partner
If you don’t have loads of experience working expired listings—or even if you do—spend some time this week connecting with a role-play partner to practice your scripts. Practice your objection-handlers, too.
This doesn’t mean squeezing in a few minutes of half-hearted practice. Learn those scripts, memorize them, and internalize them so deeply you can repeat them in your sleep.
#3: Hone your skills
Even if you’re already proud of your cold-calling or face-to-face communication skills, spend some time honing them. There’s always room for improvement. And there’s always more to learn.
The past few years, sales happened almost effortlessly. Today’s market is different. And “reading the room,” market-wise, is how you’ll separate yourself from agents who decide to switch careers in 2023.
#4: Put together some marketing materials
Once you’ve refined your list and spent some real time sharpening your skills, it’s time to put together some marketing materials.
The content and formats for these will depend on how you’re delivering these presentations. For example, if you’re cold calling expired listings, what materials do you want to keep on hand?
#5: Get your listing presentation ready
If you spend time working expired listings in your market, you will get appointments. So, is your listing presentation ready to go?
If not, this is the time to look over your presentation materials and practice with them. Along with presenting up-to-date market stats and other information relevant to the seller, they should demonstrate exactly how you’re different from the last agent they hired—and why you’re the one who will get them the results they want.
Chances are excellent these sellers have been inundated with gloom-and-doom headlines about the housing market. What you can bring to the table are stats, certainty, and clarity.
BAM Live Cold Calling Event for Expired Listings
If you’re like most agents, you might be thinking it’s time to brush up on your cold calling skills.
So, on Wednesday, January 4, 2023, BAM is hosting a live cold calling event for expired listings with Byron Lazine, Tom Toole, and Danny Deals.
You get three highly-skilled, experienced, and successful real estate professionals demonstrating why each one dominates their market and showing you how to confidently deliver expired listing scripts.
Tune in on January 4th to learn how you can take advantage of expired listings to grow your skills and your business in 2023.