An Introvert's "Guide" (of sorts) to Prospecting Expireds & FSBO's

By
Education & Training with Sell with Soul

Before I write another word, I want to state, for the record, that I have absolutely no experience prospecting to expireds or FSBO's. So take what I say with the proverbial grain of salt.

And, please note... this blog is not meant for outgoing, extroverted, natural salespeople. You guys don't need my help! I'm writing for the Reluctant Salespeople among us - those who hate to take the risk of bothering or pestering anyone ‘cause that's just our nature (and no, we're not weak salespeople or scaredy-cats, we're just different from you).

Okay, enough disclaimers & disclosures.

If you choose to pursue expired listings and/or For Sale by Owners, here's a tip.

Go for quality, not quantity. No, I'm not referring to cherry-picking your listings (although you certainly may!), I mean that you should only attempt to list the homes of people you feel comfortable with. People you have rapport with. If you call up a FSBO and you can tell immediately that you aren't comfortable with him, just say NEXT. Don't fret about losing that particular seller to someone else, just move on. You don't need every listing in town!

I promise you, there are plenty of expireds and FSBO's out there that you will really connect with, and the good news is that these folks probably won't connect real well with the more salesy-types who aggressively pursue them. They'll appreciate your laid-back, non-aggressive style; in fact, you may be just the breath of fresh air they've been waiting for.

However, this said, I'm not letting you off the hook just yet with regard to your prospecting efforts...

When considering implementing a FSBO/expired campaign, ask yourself this question:

"Am I willing to make phone calls and knock on doors to list these sellers?"

If the answer is "No, I'll just bombard them with mailers," or even "No, I'll just mail them a letter and leave a voicemail during the day when I know (or hope) they're at work," then... don't bother. Find another way to build your business. To create the rapport that is necessary to make this campaign work, you have to talk to the people.

This is why I never did FSBOs or expireds. I knew I didn't want to call anyone or knock on any doors - I prefer to stay in my comfort zone, which definitely does not involve picking up the phone to call a stranger or knocking on his door at 8:00 am. And if you decide the same, that's fine!

However, for those of you who are looking for a respectfully aggressive (yes, those two words can co-exist) way to prospect to expired listings, check out http://activerain.com/borino. It's good stuff.

Copyright Jennifer Allan 2007

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Topic:
Real Estate Sales and Marketing
Tags:
introvert
all blogs
expired listings
fsbo

Comments 20 New Comment

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Anonymous #1
Anonymous
Anonymous
Good post...it does take some encouragement...it's like jumping of the high dive, but hey the sooner you do it, the second time is soooo much easier....great post
August 31, 2007 10:39 AM
Rainer
80,766
Jason Romrell
Business Attorney and Success Advisor
As an attorney, I like the disclosures!  ;-)  But in your case, I'm not so sure you can pass as an introvert.  You seem very on-the-ball to me!
August 31, 2007 10:40 AM
Rainmaker
212,354
Judy Orr
SW & Near West Chicago suburbs
Classic Realty Group

In 24 years in the biz, I hate cold calling and although I have knocked on doors many years ago, I don't have the stomach for it.  However, I have been successful with mailings and fsbo's and expireds call me.  One mailing isn't going to do it.  You need to have a system and keep it up.  But if you work it properly you will get appointments and listings.

I will say that last year I didn't get any expired prospects (& in the past I was very successful with them).  However, in our ever slowing market I think that will change.  I have been too busy this year to bother with mailings but as things are slowing down I think I'll start it up again. 

August 31, 2007 11:55 AM
Rainer
2,729
Team Riley
Spa Realty, Inc

Nice disclaimers.....more things should come with those!  lol

Well thought out point, and very very true.  If your seller and you get along from the start, it makes everything easier in the long run.

August 31, 2007 10:51 AM
Ambassador
876,211
Larry Bettag
Regional Vice-President
Larry Bettag - Cherry Creek Mortgage

I love the disclaimers....got to force the issue.  Can never teach drive, but can teach self-confidence.

August 31, 2007 11:04 AM
Rainmaker
432,062
Jennifer Allan-Hagedorn
Author of Sell with Soul
Sell with Soul

Jason... ah... but introverts ARE very much on the ball! Thank you for the compliment, though!

Fellow introverts - I'd love to hear any tips YOU may have for prospecting to FSBO's & Expireds...

August 31, 2007 11:04 AM
Anonymous #7
Anonymous
Anonymous
Good point. I have always felt that quality is better than quantity. My team mate and I go only approach a small number each week, but we take a very personalized and resourceful approach to each one. We have to remember that we are not the only ones pursuing these potentials and we need to be finding ways to set ourself apart if we want to be effective.
August 31, 2007 11:06 AM
Rainmaker
1,085,414
Bryant Tutas
Broker/REALTOR, Tutas Towne Realty, Inc
Bryant Tutas-Tutas Towne Realty, Inc
Jennifer, I make my living off of expired listings. No calls, no door knocking, no follow up. I mail one letter to every expired or withdrawn listing in my market area and get a tremendous response. I list 4 to 6 homes a month off of this one letter and probably turn down another 10 because of pricing. The key is to do it every day to every listing. I've been doing it for 13 years. The beauty of it is it's simplicity. No plan has to be complicated it just has to be consistant.
August 31, 2007 04:02 PM
Rainmaker
432,062
Jennifer Allan-Hagedorn
Author of Sell with Soul
Sell with Soul

Bryant, Yeah, I'd heard a rumor that you had some good stuff going in the Expired department... simple is good...

Stephen - I really think that personality is what sets any agent apart from the competition. Some people mesh, some don't. But if you're true to yourself - you'll get the business you want.

August 31, 2007 04:10 PM
Ambassador
1,276,835
Loreena Yeo
RealtorĀ® | Frisco TX Community Ambassador
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.
I'm in....
August 31, 2007 06:08 PM
Rainer
3,271
Shaun Ramos
M.A. Allen Realty Group

I've just really started going after FSBO's.  I don't enjoy knocking on doors or cold calling, but here's what I do.  I will simply call the FSBO and say something to the effect of "Hi I'm Shaun with MA Allen Realty Group.  I understand that you are selling your own home, and I'm not calling to try to talk you out of it.  I'm just calling because I'd like to drop of some information about me, my company, and what I could do for you just in case you change your mind about listing down the road". 

I'm finding about half of the people I talk to are telling me yes.  I'm about to get my first listing from doing this (if she doesn't get a contract by the end of this coming week).  We hit it off on the phone and she's called me a few times with questions. 

 

September 01, 2007 03:24 PM
Rainer
35,210
Rob Baldwin
REALTOR, Santa Clarita
US ECO-GREEN REAL ESTATE INC.
Jennifer, when I first got into this buisness, I would turn to another agent scratching my head and ask. Do I have to be a piranha to make any money? I am finding out the answer is no. You are so right, you will do much better if you stay true to yourself.
September 02, 2007 12:40 AM
Rainmaker
432,062
Jennifer Allan-Hagedorn
Author of Sell with Soul
Sell with Soul

Shaun - I think you've come up with the right approach for you. The most important thing is that you feel comfortable with it, so you can be sincere when you open your mouth. Keep keeping me posted, k?

Rob - Amazing realization, isn't it?

September 02, 2007 06:15 AM
Rainmaker
135,689
Scott Cowan
RE/MAX Four Seasons

Excellent post. I agree completely that you should not pursue business with individuals you do not feel comfortable with. There are plenty of opportunities for all of us to have success within this industry working with people we connect to. When you have that "connection" it is not a problem being an introvert =)

 

Best,

Scott 

September 05, 2007 12:30 PM
Rainmaker
432,062
Jennifer Allan-Hagedorn
Author of Sell with Soul
Sell with Soul
Scott - you are so RIGHT! I never thought of it that way! Gold Star for YOU!
September 05, 2007 01:01 PM
Rainer
22,873
Georgia Emmett-Hudleston
Gulf Breeze, Pensacola, Pace, Milton Realtor
Xcellence Realty

thank you for the helpful tips.

October 12, 2007 03:51 PM
Rainer
10,871
Kotambu "KS" Shabazz
Renton, Real Estate Consultant
Quality Real Estate Services
Jennifer that is great advice. consistency & persistency is the name of the game when prospecting that market segment. If you are not inspired by what it takes to get 'er done on cold phones and cold doors, open houses are always available and a great source for meeting new buyers and sellers in a more laid back environment.
October 12, 2007 04:57 PM
Rainmaker
148,331
Tom Plant
WINEormous.com
Jennifer - Wow... it sounds like we're kindred spirits. That's probably why I love AR so much. Thanks for your gracious note to me. I promise to post here.
October 12, 2007 07:46 PM
Anonymous #19
Anonymous
Elysia
Good agents do a lot more than *locate* pretorpy. That's only a small part of scouting a location. What's traffic like? How far to the grocery store? Neighborhood noise levels? Overall desirability? More important, how does it compare to competing properties? Just as important, what's the physical condition of the pretorpy? In the case of new construction, are the construction techniques used known to have bad consequences down the line? A few months ago, I found vertical cracks already forming in a brand new high end development not just green wood around the windows.Not to mention that developers have their own contracts. Do you know what it all means? Do you know standard procedure in your area?If all you want is someone to help handle negotiations, most agents will ask for less money but you'll need to agree that that's all they're doing. It's fine with me and every other agent I know we're making more money per hour for less liability.People who buy from developers (or anyone else) without an agent of their own in their corner are fresh meat for their agents. That's why developers try so hard to cut buyers agents out (in markets where sellers have more power instead of being desperate for every potential buyer, many developers will refuse to work with outside agents altogether)
July 26, 2012 06:00 PM
Anonymous #20
Anonymous
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July 26, 2012 10:50 PM
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Rainmaker
432,062

Jennifer Allan-Hagedorn

Author of Sell with Soul
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