Uniqueness Is Key
First you must establish the seller’s dominant preconceived notion as to why they feel they were let down by their listing agent. Simply ask them why they think their home did not sell. All that matters is what they believe the reason is, not whether or not you agree with them.
You need to closely listen to these reasons and view what the seller says not as objections, but as opportunities to demonstrate to the seller your unique selling propositions (USP), and how these propositions will be used to overcome the reasons your seller believes their home did not sell.
Most likely the seller will say the reason their home did not sell was lack of marketing by the listing agent. A common complaint is that “the agent simply stuck a sign in my yard and was never heard from again.”
These are initiative and communication issues. What the seller wants to hear is how you will deploy a targeted and specific marketing campaign and keep them informed of the progress. The key is to implant uniqueness in your marketing plan and present that in an organized calendar with specific launch dates. Stress whatever is new to the seller that separates yourself from your competition.
Example Expired USPs
- Specific marketing deployment with calendar
- Hyper attention to detail and organization
- Advanced technology systems that generate interest
- Demonstration of technologies; i.e. 24-hour call capture with live operator follow-up, virtual tours, visible web presence
- Preauthorization to lower price at specific date if no offers are accepted
By presenting a structured and professional marketing plan that includes a calendar of deployment of your unique marketing initiatives to the seller, and demonstrating your commitment to executing that plan, you will earn their trust and inspire confidence that you are capable of selling their home. But that trust is not always earned immediately; it may require several follow-up contacts.
Demonstrate How You Follow Up With Prospects (By Following Up With the Seller)
As we previously stated, to win the listing you must overcome the distrust of the seller. They have just had a negative experience with the sale of their home and they are not in the mindset to believe any claims, especially initially.
If the seller was upset that their previous agent stuck a sign in the yard and was never heard from again, they may sit back and see which of the competitive agents is willing to follow up on their presentation; believing (and rightfully so) that how they behave to get the listing will be how they behave when they follow up on a buyer lead.
If you want to win this listing, you must demonstrate patience and consistency in your approach. On every follow-up with the seller, always present a unique selling proposition to them, a call to action to close (with perishable timestamp whenever possible), and if they do not close, inform them of a precise day and time when you will be heard from again.