We’ve talked about how to prospect expired listings, but do you have a plan in place to do it? How about a hot sheet? No? Then how will you make sure you’re doing the prospecting you need to do? Remember, expired listings can be a great place to find future clients.
The prospecting plan you have in place will certainly depend on your business and personality, but generally you should start your day by looking at the Multiple Listing Service (MLS) for listings that have expired. Note: don’t call a listing that is going to expire today or in a few days. You will get into serious hot water doing that as the listing contract is a document that means they have an exclusive agreement with their current realtor. They are in a contractual relationship with another and you would be interfering in that business relationship. It’s not worth the lawsuit you could end up being in or worse! Once the listing is expired, they are fair game.
You can, however, look at soon to be expiring listings to make a list of prospects to call once they expire. You can even set up a “hot sheet” with MLS so they email you daily with expiring listings. Or you can search yourself and start your listings hot sheet of prospects for the next week or more, giving you time to look for any missing information you may need.
Simply list the address on your sheet with the owners name and contact information. Whatever may be missing from the MLS listings can be found through county tax records and Google. The tax records will give you the owner’s name, and you have the address, so search the number using the name and address. It’s not unusual for people not to have a listed telephone number. Today with more and more people not having a home phone, you may not find what you need. So get creative! Try a postcard blast to addresses without phone numbers. Make it fun and intriguing so they pick up the phone and call you.
Plan your success by planning your calls! Get your prospects on a listings hot sheet and call or mail those expired listings to build your business.