Expireds Guide - Authorify

Let’s go through the ways you can prove your intentions: 1. Call every week. Calling every week builds rapport with the sellers and lets them know we are working and doing something to sell the home. This is the biggest key to keeping sellers happy with you as their agent. I call them every week even if nothing is going on. I simply tell them that we didn’t have any showings, that other homes are still selling, and that we might need to reduce the price. Don’t be afraid to call them. Just don’t skip doing it for a while, then start up again. 2. Follow up on showings quickly. Call the seller when you hear the feedback from a showing. This is the perfect time to ask for a price reduction if they haven’t been getting any interest in a few weeks. 3. Ask for a price reduction every 21 days. If you just reduced the price and the activity didn’t pick up, start asking for a price reduction after another 21 days. It will take them 2-3 weeks to agree with you and reduce the price. If you tell them the reason the home isn’t selling (price and condition), they won’t call you and complain as much. 4. Don’t take pathetic price reductions. If you reduce a home from $659,000 to $654,900, it won’t make any difference. Turn down the small price reductions until you get the 5-10% that will cause the home to sell. If you go from $659,000 to $599,000, that is a meaningful price reduction that will make a difference and get more buyers in the door. When I take a price reduction, I always try to get it reduced below the next round number that buyers search within. For example, I wouldn’t reduce from $267,900 to $252,000. I would instead push for $249,900 and tell them that at $252,000, you are still competing with the homes priced at $275,000, which are probably nicer and more likely to sell. 5. Send them an updated CMA whenever I think it’s necessary. I have found that not being too pushy with reductions gets the job done. If they are being very resistant and you know you have to be pushy, push, but also send them an updated CMA and other competitive active listings in the mail. Email doesn’t work because they can just delete it. 6. Talk to both parties every week. Here’s what can happen if you don’t. Let’s say the house was FSBO and then you listed it. The ‘’Macho Man’’ husband will have his ego to protect.