Expireds Guide - Authorify

Chapter 2: Understanding the Expired Market Before you break into the expired market, you’ll need to understand these peoples’ mindset so you can relate more efficiently and solve their problems. Not all expired leads are the same, either — some have totally lost interest in selling and are not worth your time. It’s really about identifying the right prospects so you can get the best return on investment. It's about finding the sweet spot and having the quantity and quality match up. If you're going after every listing and you're not getting any of them, it's just a waste of time. Wouldn't you rather know how to identify a quality expired lead and then put a little bit more energy into that and have it convert into a listing?

What makes the perfect prospect for an expired listing? There are three things:

1. Number one, they are motivated to sell. 2. Number two, they are willing to adjust price if necessary. 3. Number three, they are willing to consider listing with a real estate agent! Identify your target price range

One thing I would encourage you to do is to identify the price range you want to work in. Do you feel more comfortable working with luxury homes or starter homes? What's your sweet spot, and what price range of homes are selling the best in your area? Both of these factors should play a role in your target range. If you can identify these, you may end up with 30 expireds one week, and if you can narrow it down to the 10 best ones and spend your energy and time on that, you will get a much better return on investment. Understand that prospects are motivated by pain or gain. Once you’ve identified an expired prospect, it’s time to find out whether they are motivated by pain or by gain. Most people are motivated by pain. Unless something is hurting or uncomfortable, most people put off changing it. For example, let’s say you’re bothered by a stomachache to the point where you finally go to the doctor — but you’ve been avoiding it. Then, when you finally get to your appointment, the doctor says you should have come in to see him or her sooner; the problem is more serious.