Expired Listings Scripts to Win Back Sellers
Word-for-word scripts for re-engaging sellers who gave up on listing.
Austin Beverigde
Tennessee
, Goliath Teammate
As a real estate professional, dealing with expired listings can be frustrating. Sellers may feel disheartened after their homes linger on the market without a sale. However, with the right approach and scripts, you can reconnect with these sellers and turn their situation around.
Quick Answer
To win back sellers with expired listings, start by acknowledging their frustration and offering a fresh perspective. Use a script that emphasizes your understanding of their situation, highlights your unique selling strategies, and invites them to discuss their goals. Personalize your outreach based on their previous listing experience, and be prepared to provide actionable insights that demonstrate your value.
Understanding Expired Listings
Expired listings are properties that did not sell within the agreed listing period. This can happen for several reasons, including overpricing, ineffective marketing, or lack of exposure. Understanding the seller's experience is crucial in crafting your approach.
Why Sellers Need a New Strategy
When a listing expires, sellers often feel discouraged and may be hesitant to relist. They might think that the market is not favorable or that their property has issues. Your role is to reassure them that a new strategy can lead to success.
Crafting Your Expired Listing Script
Creating a compelling script is essential for engaging with expired listings. Here are some key components to include:
1. Acknowledge Their Frustration
Start by recognizing the seller's disappointment. A simple statement like, "I understand how frustrating it can be when a home doesn’t sell as expected," can go a long way.
2. Offer a Fresh Perspective
Share insights about the current market conditions or changes that may benefit their listing. For example, "The market has shifted since your home was last listed, and I believe there are new opportunities we can explore together." This positions you as knowledgeable and proactive.
3. Highlight Your Unique Selling Strategies
Explain what differentiates you from their previous agent. Mention specific marketing techniques or tools you use that can attract buyers. For instance, "I utilize targeted social media campaigns that reach potential buyers in your area effectively."
4. Invite Them to Discuss Goals
Encourage a conversation about their goals. Ask open-ended questions like, "What are your thoughts on relisting your home?" This invites them to share their concerns and aspirations.
Realistic Examples
Consider these mini-scenarios to illustrate effective scripts:
Before: The Disheartened Seller
A seller had their home listed for six months with little interest. They felt the market was against them and were considering taking their home off the market entirely.
After: The Engaging Script
Using the script, you reach out and say, "I noticed your home didn’t sell, and I completely understand how disheartening that can be. The market has changed, and I have some fresh ideas that could attract the right buyers. Can we discuss your goals for the next steps?" This approach re-engages the seller and opens the door for a productive conversation.
Checklist for Winning Back Expired Listings
Research the property and previous listing details.
Personalize your script based on the seller's experience.
Prepare market insights and new strategies to share.
Practice active listening during conversations.
Follow up with a personalized email summarizing your discussion.
Be patient and understanding throughout the process.
Schedule regular check-ins to maintain rapport.
Common Mistakes to Avoid
Here are some pitfalls to steer clear of when reaching out to expired listings:
Being overly aggressive in your pitch can push sellers away.
Failing to listen to the seller’s concerns can lead to missed opportunities.
Not personalizing your approach can make your outreach feel generic.
Ignoring market changes can make your advice seem outdated.
Rushing the conversation can leave sellers feeling pressured.
FAQs
What should I say to an expired listing seller?
Start by acknowledging their frustration and expressing empathy. Then, offer insights into the current market and discuss how your strategies can help them achieve their selling goals.
How can I find expired listings?
Expired listings can typically be found through your local MLS (Multiple Listing Service) or by using real estate platforms that track listing statuses. Networking with other agents can also provide leads on expired listings.
What are some effective marketing strategies for expired listings?
Consider using targeted social media ads, virtual tours, and open houses to attract buyers. Highlighting the property's unique features and improving its online presence can also be effective.
How long should I wait before contacting an expired listing seller?
It’s best to reach out soon after the listing expires while the seller is still engaged and motivated. Waiting too long may lead to sellers losing interest in relisting.
Can expired listings be sold quickly?
Yes, with the right strategy and marketing approach, expired listings can be sold quickly. Addressing previous issues and presenting a fresh perspective can reignite interest from potential buyers.
