Ask anyone who makes his livelihood selling Custer home what he fears most and he’ll tell you, “No fresh listings!” It takes time to list, promote and sell each home, so guaranteeing a steady income in real estate requires a steady source of new listings. That’s why other agents’ expired Custer SD real estate listings are such a gift! They can become a dependable source of income for your company.
But Isn’t That Stealing?
No doubt you’re a bona fide professional, and you work hard to maintain high principled standards. You might be an agent who considers targeting expired listings as “poaching”.
But let’s look at the truth: the homeowner listed their Custer SD real estate with an agent who was unable to get it sold. As soon as that listing has expired, statistics prove they’ll probably want to list it with another agent. And why shouldn’t that another agent be you?
After all, none of us has a promised “relist” on any Custer SD real estate we don’t sell! Marketing to someone with an active listing is a “no-no”, but grabbing expired listings is simply good business strategy.
Put Yourself in the Homeowner’s Shoes
To build an useful marketing plan for expired listings, you must initially put yourself in the homeowner’s shoes. How does it feel, now that you’ve (hopefully!) kept your house neat and tidy for months, made yourself scarce every time the agent planned a showing, and, honestly, had your hopes up, to not see a “SOLD” sign in your yard?
It’s frustrating! After all, the homeowner typically has much more time, money and toil invested in selling her house than the agent. That’s why, at the end of the listing period, you’ll frequently encounter an unhappy homeowner. You should definitely keep that in mind while developing your expired listing marketing plan.
A Superior Plan Gets the Listing
Thus, what works in a listing presentation to someone whose Custer SD real estate sat there unsold? Three words, “A Superior Plan.” There are, for sure, market factors that make it exceedingly difficult to sell homes at certain times. But the majority of the homes still on the market after a number of months are there for one of two reasons:
1) The homeowner refused to follow the agent’s suggestions for making the house desirable to potential buyers.
2) The agent wasn’t working very hard to sell Custer SD real estate.
The house sometimes doesn’t sell because it’s gloomy, filthy or crowded. Perhaps the owner wasn’t convinced that bright orange carpet and a leaky roof hinder buyers. If you’re dealing with a sluggish seller, your task is to persuade them their hard work will pay off in a faster sale at a higher price.
Alternatively, the earlier listing agent may have come on solid throughout the listing presentation, but dropped the ball on advertising the Custer SD real estate. We all know agents who host an open house or two (mostly to gain new listings), put an ad in the Sunday paper for one or two weeks and blame the market when the house doesn’t sell.
To gain a new listing from an expired one, you must be the agent with a better plan. Inform the homeowner exactly how you’ll market her house. Let her know that selling her house is your priority, and advise her expressly how you’re going to operate to make it happen.
If you can prevail over her disillusionment with the real estate industry, you’re on way to becoming her next agent. Try targeting expired Custer home listings in your region, and be equipped to present a superior marketing plan. That’s how expired listings can turn out to be a gift to your real estate sales earnings.
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