According to a recent study, nearly 64% of homeowners relist their homes for sale with another real estate company within 30 days, after they have expired.
We are hearing that sellers that have homes that have not sold the first time on the market, are upset, disgruntled and often times, downright angry. Some are even looking for a scapegoat to blame it on!
So, the best advice for realtors when speaking to the owner of an expired listing is to LISTEN! Let them speak first. Do not interrupt. Let them let off some steam. They often have a load on their mind. They are angry at their lender, their Realtor, the market and some are just frustrated with the economy. It is understandable for them to be upset.
According to the Realtor Conference and Convention expireds are often looking for agent that is completely different than the last agent they worked with.
This article is authored by Sandy Shores, Melbourne FL REALTOR.
South Brevard County, Florida Space Coast.
that for you
Sandy, it just stands to reason. It also represents a huge opportunity, if you do take the time to listen to be their hero. Chances are, they probably were over priced the first time they listed their home, and unrealistic about decreasing their price to sell.
Well you know you are correct! I just witnessed it happen. Here it seems you dont really need to prove why the seller's Best Girlfriend/ Neighbor can do a better job than the preceding realtor who is a male. She is totally different but doesnt offer anything more than the female touch and a $40K price reduction!
Sandy,
Yes, we should listen and try to understand their mindset. It makes dealing with them easier.
Great post as usual.
Ann
One of the first things I ask when I go on an expired listing presentation is "What is the reason you don't think your home sold?" Then I just sit back and listen, half the time that is all I have to do. (19-4)
How do you obtain the numbers for expireds if their phone numbers are not published? Thanks
Dulce
Sandy - You are so right. When I go see an expired I always let them talk and listen to what they have to say.
Good advice Sandy. Are you trying to take my title of Smiley King (Queen).
Hi Sandy. One thing that can help is understanding a bit about how their previous agent handles their listings.
Hi Vickie, I think that it is so important to take the time to listen to sellers and how they are feeling. Everyone wants to be heard! ANd many are in a very difficult situation!
Hey Miss Ann, How are you today? Listening and actually hearing them is sooooo important. Thanks for the compliment. You are so kind to me.
Hi Stephen, Sometimes a $40K price reduction is exactly what a home needs.
Hi Todd, Excellent question, one that I also ask. It is amazing what one can learn just by asking. And I think you were very smart when you said that then you just sit back and listen. We can find out so much! Thanks for stopping by!
Hi Robert, That is absolutely the best thing that you can do, isn't it? Keep it up! Take care!
Hi Fred, I think it's beneficial to all of us to take the time to listen. I didn't know that you had the title of Smiley King. My office is full of them. Anyone that knows me personally buys me anything with a smiley on it. When I was a kid, I used to collect them when they were popular. I had oodles of different ones. I stopped for a number of years and about 15 years ago my husband found my collection up in the attic. A couple days later he came home with a brand new one...and I've been back to collecting them ever since. The great thing about a smiley is that you can't look at one without smiling!
Hey Rich, I think it is important to ask pertinent questions to find out what types of things were and were not being done with the previous listing. We must ask these, to provide some insight and to determine what must be done in the future.
Sandy you missed my point. Obviously any realtor (female or male) including the previous realtor can do a $40k price reduction.
Hi Sandy,
Well, it is COLD here today. I am good though. Showing houses tomorrow...so cross your fingers and wish me luck. Hopefully, we find something acceptable.
You are welcome,
Ann
Hi Stephen, I understood your point the first time you made it.
Hi Ann, It is supposed to be about 70 degrees here. Good luck to you in showing houses. I hope your buyer finds what they are looking for.
Sandy,
It was cold and one of the homes did not have any heat on...BRRRR...
Ann
Hey Ann, Uh oh - I don't think I would like showing homes in the cold. Well, I hope they decide to buy something. Best wishes and take care!
Sandy,
You would love showing houses in the snow and ice?
Ann