Regardless of how long you’ve been in real estate, if you’re calling EXPIREDS, you’re likely familiar with the “reflex NO.”
It makes sense, right? A property doesn’t sell, the listing expires and the homeowner is inundated with calls from real estate agents who sense a quick sell. So, the homeowner’s only defense is to just say NO because they feel overwhelmed, frustrated, and probably angry.
Yes, expireds are not always easy to work with, but if you’re calling expired as part of your on-going prospecting efforts, you can make A LOT OF MONEY. That’s why, you need to know how to overcome the reflex NO.
It all starts with knowing your scripts inside and out. In particular, you need internalize the scripts that help you to overcome the inevitable objections that come with the territory of prospecting expireds.
But the scripts alone might not be enough. The best way to hone your script skills is to:
- Find one or, better yet, a number of role-playing partners you can work with every morning. In as little as 30 minutes of role-playing, you can get your prospecting mojo in gear before you hit the phones for the real thing.
- Record your actual prospecting calls for later playback. If you don’t record your calls already, please take the time to do so. You’ll be amazed at how much you can learn about your delivery by listening to yourself. You’ll be able to pick up on the nuances that are most effective in your delivery. Plus, you’ll hear the things that miss the mark.
By working with a role-playing partner and recording your calls, you will over time, become increasingly confident in your skills at handling expired listing homeowners.
Importantly, make sure both role-playing and recording are on your calendar, because, as the saying goes, “if it’s not on your calendar, it doesn’t exist.”
Here are a few more tips to consider as you work to improve your expired prospecting skills (and results):
- Remember, when prospecting, the definition of “closing” is to GET THE APPOINTMENT. Your entire focus should be on working the phones in order to secure a face-to-face meeting, because the real magic happens when you’re speaking to someone in person. And on their turf.
- When you get hit with the Reflex NO, the first thing you should do is REPEAT what you’ve heard; paraphrasing lets the homeowner know that you heard them.
- Ask open-ended questions to create a dialogue and allow them to do as much of the talking as possible. “What do you think prevented your home from selling?”
- Always be SINCERE. Acknowledge and approve what they said to you, but do it in a sincere tone, otherwise they’ll think you don’t care or aren’t listening.
- Get your MINDSET right before calling. Be excited, energized and sit forward in your chair. Or better yet, stand. The prospect will know if you’re dreading the call, and will look for an excuse to get off as quickly as possible.
- DON’T MAKE ‘EM WRONG. The expired homeowner doesn’t need to be reminded about the state of the market or your expertise (relative to their former agent). Just work on creating a dialogue and, by extension, rapport.
Prospecting expired listing is challenging, but potentially lucrative for any real estate who is willing to invest the time in perfecting their delivery. You’re going to get Reflex NOs. How you handle them will speak volumes about your preparation and skill-building efforts.
Learn more about expireds from our earlier post: EXPIRED PROSPECTING PLAYBOOK.