Advising your Expired Listing Leads in Manhattan to Sell Now!
Although you, as a real estate agent investing time into expired listing leads, may feel frustrated at times, it’s worth it! These sellers, after you get them onboard as your clients, are highly motivated to sell because they’ve already tried once.
There are so many techniques and tactics to help you when prospecting to these leads. One such way is to discuss the current market and how that can work in their favor. Right now, there are some pieces of information that could be useful as you reach out.
Explain the ins and outs of supply and demand.
Start by explaining to your leads that the less the supply, and the higher the demand for homes for sale, the more power they as sellers hold. Prices will go up when there is a high demand for homes and not enough to go around essentially.
And usually, home supply increases in the warmer months. As spring is still a couple months off, now could be a really beneficial time for your leads to re-list their property. If they wait until the weather warms some, more homes will flood the market, driving down prices and creating more options for buyers to choose from. This means their home could languish once again on the market.
This is a huge incentive for expired listing leads to list now and not put it off any longer.
Explain how their home has appreciated.
One more great way to help convince expired listing leads to list now is to explain appreciation. Homes naturally go up in price. This is just how it works. So if they bought their property a couple years ago or more, the home will most likely sell for more today. Depending on the work they’ve put into the home to update, maintain and renovate, it could have appreciated more. This is an incentive to sell now, while they can get more for their home and increased equity.
Talk to your leads about how much you think their home may have increased in value based on aspects like renovations, locational improvements or amenities in the area, improved local and national economy and inventory of homes in the area.
Discussing these ideas of supply and demand as well as appreciating and building equity with your expired listing leads in Manhattan may help you when prospecting. It might be the exact thing they need to hear to push them over the edge to be willing to list their home again.
*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan real estate agents to prospect for expired listing leads and grow their business exponentially.