STEP ACTIVITY DESCRIPTION

• Use the MLS (Multiple Listing Service) to identify properties that recently expired.
Gather Expired Listings
• Filter by location, price range, and property type to align with your expertise.
• Review the expired listing's photos, description, price, and days on the market.
Step 1: Research and Preparation Analyze the Listings
• Identify potential reasons the property didn’t sell (e.g., pricing, poor marketing, or property condition).
• Verify ownership and contact details through public records.
Check Public Records
• Ensure there are no legal or financial issues with the property (e.g., liens).
• Use a mix of outreach methods: phone calls, personalized letters, emails, and in-person visits.
Create a Contact Plan
• Timing is crucial; reach out within 24-48 hours of the listing’s expiration to demonstrate urgency.
Step 2: Initial Contact
• Express empathy for the seller’s frustration.
Craft a Compelling Message
• Position yourself as a problem-solver by offering a brief analysis of why the property didn’t sell and a preview of your strategy.
• Share a market update, insights about similar properties that sold, and a tailored sales plan.
Offer Value
• Avoid being overly critical of the previous agent’s work but acknowledge room for improvement.
• Arrange a face-to-face meeting to discuss their goals and challenges.
Step 3: Build Trust Schedule a Meeting
• Bring a professional portfolio that includes a comparative market analysis (CMA), examples of past successes, and a marketing plan.
• Understand their motivation, timeframe, and concerns.
Listen to the Seller
• Discuss their previous experience with selling and identify pain points.
Refine the Marketing • Develop a comprehensive plan addressing the property’s shortcomings (e.g., professional photography, staging, online advertising).
Step 4: Develop a Customized Strategy • Highlight innovative tactics such as virtual tours, social media promotion, and targeted marketing campaigns.
Plan • Provide a data-backed pricing recommendation based on current market conditions and comparable sales.
Reassess Pricing
• Explain the importance of correct pricing to attract buyers and avoid further delays.
• Once the seller agrees, execute a new listing agreement.
Sign a Listing Agreement
• Clarify all terms, including pricing, commission, and the duration of the agreement.
Step 5: Execute the Plan
• Coordinate with professionals for staging, repairs, or cleaning if necessary.
Prepare the Property
• Arrange for updated professional photography and videography.
Launch the Marketing • Promote the property aggressively on MLS, major real estate websites, and social media platforms.
Campaign • Use direct mail, open houses, and community events to generate interest.
• Monitor inquiries, showings, and feedback from potential buyers.
Track Progress
Step 6: Monitor and Adjust • Share weekly updates with the seller to maintain trust and transparency.
Adapt to Market Feedback • Adjust the marketing strategy or price if necessary, based on buyer interest and market trends.
Qualify Potential Buyers • Pre-screen buyers to ensure they have financing or are ready to make a legitimate offer
Handle Offers and • Present offers to the seller and advise them on the best course of action.
Step 7: Negotiate and Close Counteroffers • Negotiate on their behalf to secure favorable terms
• Coordinate with the buyer’s agent, inspectors, appraisers, and escrow/title companies.
Manage the Closing Process
• Ensure all contingencies are met and assist the seller in navigating any last-minute hurdles.
• Follow up after the sale to ensure the seller is satisfied.
Stay in Touch
Step 8: Post-Sale Follow-Up • Request a testimonial or referral if they were happy with your service.
Leverage the Success • Use the successful sale as a case study in marketing efforts to attract future clients.