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10	Where Do You Find The Expired Listing?
11	What is the Best 1^st Initial Contact? The best 1^st initial contact is the telephone The earlier in the morning you call the better. The best calls are made at 6:00 and after. 88% of the Expired Listings will re-list and they will re-list that day. Usually they re-list with the current broker. 35% of the time they don’t use the old broker.
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27	Understanding Expired Listings Why do listings expire? Price Conditions Marketing
28	Seller’s Attitude Discouraged – Ready to give up. Lack faith in all salespeople Curious why home didn’t sell More motivated after failure
29	Telephone Technique Approaches to use “Our records show your listing expired . . . “ “Had you intended it to do so?” If seller has re-listed don’t solicit anymore. “is it still for sale?” or “Are you still moving?” “Why were you moving?” Determine the seller’s motivation. “May I see it at today?” Get the appointment and delay the in-depth discussion for in person meeting.
30	Questions to ask at 1^st Meeting Marketing “Why do you think it didn’t sell?” “Describe the marketing effort the previous company did on your home.” “What more do you expect from a salesperson?”
31	Question The Condition of the Home Was The Condition Good Enough for a Sale “Was the home in Really Salable Condition?” Tour Seller’s home – Do your In-Depth Tour. Write down issues to address. Ask seller if anyone expressed concerns.
32	Question The Price What About The Price “How do you think your home was priced?” 2. “Was your home priced right?” 3. “What financing terms did you offer?”
33	It’s A Real Victory To Sell Another Agent’s Listing You Must Get A Price Reduction You can only change three things with a real property. Location – Condition – Price. Location is not easy to change Condition can always be better but often is not economically feasible to justify the price. Price is the element we can more easily and more economically work with.
34	Review Questions Tape 5 1. What are three reasons listings expire? A. B. C. 2. What is the most common of the three reasons?
35	Review Questions Tape 5
36	Review Questions Tape 5
37	The Marketing Pyramid
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40	""The reason I ask..." "The reason I ask is I'm looking at a copy of your listing and I'm amazed it didn't sell, and I was curious why. Let me ask you this. Of all the things your Broker did for you, what's the one thing you wish he would have done and he didn't?“ . . . . “Oh, he didn’t stay in contact with you and he never had any open houses? -- -- Is that correct?”
41	Expired Listing Wish List Continued "So in other words, if you ever put your house on the market again, you want to make sure you choose a broker that keep you more informed and hold some open houses, is that correct?"
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43	Continue The Journey To The “Salability Checklist” "What is that? What is a Salability checklist? A-ha, I think maybe we've found the problem. What it is, Mrs. Margolan in a nutshell, it's a tool we use at Cerritos College that assures a home will sell. "In other words, you do still want to sell, am I reading you right? "You know what I would do, and I don't mind . . ."
44	The Salability Checklist The Salability Checklist is a simple but very accurate list that we have developed here at Cerritos College. It tells us, through a series of 20 very basic, simple questions if a property is likely to sell. It’s based on Yes or No answers. If the property gets 11 Yeses, out of the 20 questions, we know that the property will sell.
45	The Salability Checklist Continues “I’ll be in your area later this afternoon, I could go over the “Salability Checklist” with you and you will see what I mean. You’ll discover right along with me just why your home didn’t sell.” “That is something you’d like to look at isn’t it?” . . . “Good – You’ll be impressed.” . . . “What if I stop by your place a little after 4:00 today?” . . . .”Good, I’ll see you at 4:00”
46	You Would Go To Their Home With a Complete Listing Package – CMA, The Works The track here is that you will go to their home at 4:00 – go over the “Salability List” and proceed into your listing presentation. You will ask for the listing not less than 3 times, preferably 5 times. That will be in class 8 “Listing Presentations”.
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68	"Following are some insert dialogues..." Following are some insert dialogues that can be helpful when intermixed with your regular dialogues. At first you will be slow and cumbersome with your dialogues there will even be times when you can’t think of anything at all to say. As you progress with these dialogues all of a sudden you will find you are using them on a regular basis, to everyone’s benefit.
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