Expired & FSBO Leads
Expired listing leads are the most profitable prospecting data tool in a realtor’s toolkit. Nearly 40% of expired listings or expired leads relist with a different agent within 30 days.
Data accuracy and timing are critical elements in ensuring you have the best shot at winning that listing.
For sale by owner properties represent an opportunity. Nationwide, 9 of 10 FSBO’s fail to sell on their own. FSBO homeowners are motivated by their bottom line. In robust markets, if a FSBO homeowner does not have an offer in hand in two weeks, many become realistic about the need for a professional’s help. Within four weeks, nearly 70% of FSBO homeowners list their property with a listing agent.
Lead Gen is better with Vulcan7
Connect quicker with homeowners that need your help. Vulcan7 provides more accurate premium contact information than any other lead generation provider. Get accurate expired listing and FSBO phone numbers, email addresses, and much more.
EXPIRED LISTINGS: URGENCY TO SELL
Expired listings represent a tremendous revenue opportunity for agents who can turn failure into profit for frustrated homeowners. But, on the flip side, those homeowners identified as expired as expired listing leads may be suspicious of any new real estate agent who claims to have the golden key to success.
Many real estate agents, especially those newer to the business, often ask where to find expired listings or how to get phone numbers for expired listings. Fortunately, as a Vulcan7 client, you have access to the industry's best expired real estate listings. Our industry-leading data gives you a leg up on your competition. But while great data gives you a head start, other agents will be working the phones or knocking on the same doors in time. Expired leads are hot commodities, and it won't be long before those homeowners feel overwhelmed fending off well-intentioned agents.
It's important to remember that working with expired MLS listings requires a much different approach than dealing with FSBO leads. So, as you begin to call your Vulcan7 expired listing phone numbers, keep these tips in mind.
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Tip #1
Focus on those critical, initial seconds to position yourself and how you would do things differently.
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Tip #2
Don't lose touch with the unique opportunity of old expired listings. Many agents pass these listings up for newer properties.
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Tip #3
Call early and be persistent in your follow-up with expired leads. Prove that you will dedicate yourself to selling their property - they will appreciate that dedication.
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Tip #4
Expireds also appreciate it when you show them you remember their property.
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Tip #5
Remember that time and price are the things these homeowners are most concerned about. Have your stats ready: examples of quick sales you've made, especially those above listing price.
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Tip #6
Be persistent about getting an in-person listing presentation. As we've said before, the magic starts when you are face-to-face.
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Tip #7
Show the homeowner that you choose to be a business partner and problem solver, Have examples of the work you've done.
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Tip #8
Be straightforward if the expired listing homeowner asks if you're willing to negotiate commission: "It depends on many factors, such as the condition of your home and the price we set. We can discuss that in more detail when we meet tomorrow."
FSBO LEADS: PATIENCE MAY WIN THE DAY
For Sale by Owner listings, or FSBO leads, also represent an excellent source of revenue for agents who are committed to prospecting. As with expired listing leads, those wanting to know how to find FSBO leads have come to the right place. Vulcan7 delivers the best FSBO leads in the industry every morning without fail.
FSBOs often get frustrated quickly when trying to go it alone. To that end, it's essential to stay in touch to keep your name top-of-mind with them. In addition to making occasional phone calls, be sure to send something with your picture and contact information. Again, top of mind is key!
Build trust with FSBOs by affirming their decision: "Great idea to sell on your own, I think you'll have a lot of success. And if you need any help, let me know" To a certain degree, FSBOs need to decide if selling their own home makes sense, which puts you in an excellent position to get the listing when they finally decide.
During your initial prospecting call, solid notes can yield the kind of relevant questions that keep the FSBO prospect engaged, For example, you might find your FSBO prospect has an open house that weekend. If so, you'll know to follow up Monday morning to ask have the open house went.
Use open-ended questions to uncover the homeowner's motivation. If the FSBO says, " I'm doing this to save money." you might respond with: "That makes total sense, but let me ask, what does saving money look like to you?"
Newer real estate agents often find it easier to begin prospecting with FSBO leads. FSBOs tend to be more willing to dialogue than expired listing homeowners, who can often be frustrated and impatient.
That said, there are still a few things to remember if you are new to working with FSBOs
Persistence is Important
Hard-selling can be off-putting. Persistence is important. But, an overly-aggressive approach might suggest that the homeowner made the wrong decision by selling on their own.
Slow and Steady
Minimize your eagerness. Newer agents can often be over-eager, assuming it might be easier to get a listing from a "friendlier, more accessible" FSBO. But that attitude can backfire. Take it slow and steady.
Build Rapport
Create value to build rapport: Use your initial conversations to build rapport and trust. It's OK to offer some free advice to help the FSBO homeowners market their homes. For example, you can suggest landscapers to enhance the home's curb appeal Supporting them in the short term could help them remember you when they're ready to "go pro."
Ask Open-Ended Questions
Hone your listening skills. Don't talk too much when you make that first contact. Your instinct might be to do as much "selling" as possible. Instead, learn to ask open-ended questions. Then, listen carefully to uncover the FSBOs motivations and fears. A rule of thumb: you talk 30% and the FSBO talks 70%.
