Prospecting to Expired Listings in Manhattan!

You need to build up your business and clientele in Manhattan? Have you thought about expired listings? They can be great avenues to cultivate relationships and build up a referral base of people who trust you and recommend your services as a real estate agent. There are so many expired listings each day so it’s a great tool, when handled right, to grow your numbers and sales. Here are some tips when prospecting to those expired listing

Begin By Utilizing A Lead-Generating Tool

Start off by finding leads through a lead-generating tool to provide you with the contact information of expired listings. This will keep you current as you’ll receive that information as soon as it becomes available.

Use Hard Data To Win Expired Listings

Bring facts to your phone conversations, email, or in person meetings. Highlight the data of how many homes you’ve sold, where, for how much, and how long was the house on the market before it was sold. Bring data showing why it pays to have a skilled agent on your side. Many expired listings, if they went with an agent before, are most likely disappointed and frustrated with the process. But you need to show them why it’s still a good idea. Or, in contrast, if they were a FSBO (for sale by owner) and weren’t able to sell, presenting data that shows why having an agent brings up their chances to sell will be vital.

Offer Deals To Build Trust

If the expired listings are skeptical and wary, be prepared to offer either a limited-service option or even to reduce the fee if the seller finds the buyer themselves. A limited-service option would delineate a lower commission for reduced services offered. This way they could work their way back into trusting an agent and wouldn’t have to commit to a full commission. Charge a small fee for minimal support or slightly higher for a bit more help. Or insert a clause into your agreement that if they find the buyer and do the legwork for them, then that’s a reduced rate as well. This gives them the freedom to try to sell more independently but they still have you working at the same time to maximize their chances.

Find the leads, approach them with facts and hard data, and build trust by being willing to meet them where they are at with reduced rates or limited-service options. These methods of prospecting to expired leads in Manhattan will go a long way in building you business and providing more clients and consequently referrals.

*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.