Empathy and Expertise: Mastering the Art of Handling Expired ListingsMay 16, 2023
Welcome to today's short blog post, where we will be discussing how to handle expired listings and potential problem properties left behind by previous agents. It can be challenging to deal with these types of listings, but with the right approach, you can turn them into a successful sale.
Something went wrong with the potential sellers' last listing experience. They did not achieve the outcome that they desired, and this may well have left them feeling disappointed, even embarrassed in front of their peers, and most likely disgruntled.
I’m a fan of the music artist Drake, expired listing property owners put me in mind of a lyric from his song ‘Take Care’ …which goes. ‘Dealing with a heart that I didn't break’. That’s kind of how it is with this listing opportunity, it needs to be managed correctly as you are dealing with a listing you did not break. My guidance here is, to handle with care but not at the cost of your own success!!
Here are some guidelines on how to deal with this type of property owner opportunity:
- Have compassion and empathy for the seller’s previous experience, but do not let it become the stick they beat you with. Never take on an expired listing by simply promising you can do things better. This will end in disaster, you will spend your time trying to prove your self-worth, just like in Drake’s song lyrics. Before you take on the listing make sure you are clear on exactly why the listing didn’t sell with the previous agent and be sure that this is an issue you are equipped to manage.
- Do not just list the property for the sake of listing a property. There is nothing more distracting to your real estate success than listing properties that do not meet your marketplace needs and come with an unwilling or greedy potential seller in tow.
Before you take on an expired listing and potential problem that a previous agent left behind, conduct a detailed market analysis on the property, ensure you position the property for sale correctly with both the seller, and the buying market, to ensure it successfully sells, and you get paid, my friend! Because at the end of the day – that’s what it’s all about!
In conclusion, handling expired listings and potential problem properties can be challenging, but with the right approach, you can turn them into a successful sale.
Remember to have compassion and empathy for the seller's previous experience, but do not let it become the stick they beat you with. Also, conduct a detailed market