Welcome to the RealTown Real Estate Network!
Member Login | Join RealTown
The Real Estate Network
RealTown  Community  RealTalk  Listings  Working Expireds

RealTown's RealTalk

Back

Bookmark and Share  

Create New Discussion Digest Archive

 Working Expireds

Created by:
Cheryl Laxton, Government ,  Kingston,  TN

Date: December 22, 2007, Number of Replies: 10


View Profile

With the downturn in the real estate market are you working FSBO's and Expired's more than usual? If so, how are you working them?  I had started sending a few letters to expireds in my area (form letter from CRS Class) and I was contacted by an agent who was pretty ugly about me soliciting his customers.  Now the letter probably crossed in the mail but at the time it was mailed it had not been re-listed on the MLS.  Not only was the agent ugly but the broker also.  Just wanted to see how and if other agents were working them.

 

Cheryl Laxton

To Top Quote   Reply
Neal Adler, gri,abr, e-Pro Licensed Real Estate Agent,  Studio City,  CA

Date: December 23, 2007

RE: Contacting Expireds.
 
As a REALTOR(r) with extensive experience in the area of Professional Standards here is my take on expireds. If a property has been cancelled and or expired it is fair game there is no MLS or COE violation.  That is providing it has not been relisted. You should make  a reasonable effort to determine if the property has been relisted and if so, you should not be soliciting an active listing.  That also goes for listings that are about to expire.  The latter happens more than one would think and it's referred to jumping a listing.  That is contacting the owner 1 day before the listing expires.  That is a no no.
 
I used to prospect cancelled and expireds.  Sometimes by mail or by phone.  If I called someone and they said they had relisted the property I would say thank you and wish them luck.  No other discussion is appropriate.  If you call or door knock and they tell you it's relisted, in my opinion, this initial inquiry is not a violation.  It does become one if after finding out it's relisted an attempt is made to get the listing.
 
On a related matter.  If one is contacting a prospective seller cancelled, expired, farming by door knocking, cold calling and they person says they have an agent, it is permissible to ask if they have a signed contract (listing agreement), if they say no it's fair game.  I remember a couple of years ago I was cold calling in an area that I sold two listings and two people said they had an agent.  I asked if they had a listing agreement signed and they said no.  I then offered to meet with them to show them what I could do.  I got both listings and they both sold.
 
When it comes to sellers 'having an agent' and having a signed listing contract are two completely different issues. In my opinion it's fair game.
 
Lastly, sending a card or a letter to an expired is fair game.  If it goes out before the property is relisted, in my opinion it's not a violation. I would suggest a disclaimer at the bottom of the letter or post card for example.........."If your property is currently listed, this is not intended as a solicitation"  It seems to me the agent and the broker should understand that's how business is conducted and cancelled and expired listings are fair game.  Most people that prospect in this area usually play by the rules and I'm sure that was your intent. They need to 'get over it'. 
 
Just be cautious in contacting expireds/cancelleds and make every effort to determine if the property has been relisted. There several services that you can subscribe to that give you the latest information.  One particular one is www.reap007.com I've used him here in Los Angeles and the price is very reasonable and Kurt Wilson (the owner) is wonderful to work with. I'm not sure what other areas he covers but if you work with cancelleds/expireds and he's in your area I would recommend him highly.
 
 

Neal Adler, GRI, e-PRO, ABR
Associate Manager, Rodeo Realty
California Association of REALTORS(R)Director, Region 18
Member Professional Standards Committees
California Association of REALTORS(R)
Southland Regional and Beverly Hills Greater Los Angeles Associations of REALTORS(R)
California Association of REALTORS(R)Certified Professional Standards Trainer
www.nealadler.com
Direct 818-308-8679
Cell 818-282-2516
Pager 818-228-9999
Toll free 888-216-7530
Fax 818-761-7277

To Top Quote   Reply
valeriesullivan@cox.net

Date: December 23, 2007

 

With the downturn in the real estate market are you working FSBO's and Expired's more than usual? If so, how are you working them?  I had started sending a few letters to expireds in my area (form letter from CRS Class) and I was contacted by an agent who was pretty ugly about me soliciting his customers.  Now the letter probably crossed in the mail but at the time it was mailed it had not been re-listed on the MLS.  Not only was the agent ugly but the broker also.  Just wanted to see how and if other agents were working them.

 

Cheryl Laxton

Cheryl,

My broker has me put a disclaimer on all of my mailouts (and regardless, it’s a good idea for this very reason), to the effect of “if you’re home is already listed through another agent/broker, this is not a solicitation of that listing” or “please disregard this mailer.” It keeps those calls to a minimum—especially if the timing was like yours.

 

Valerie A. Sullivan

Eglin Realty, Inc.

Broker Associate, E-Pro

850-803-8446

Valerie@ValerieSullivan.net

www.ValerieSullivan.net

 

Your referrals tell me I've done a great job for you! 

Thank you for your referrals!

 

 

 

To Top Quote   Reply
gbcosta@yahoo.com

Date: December 23, 2007

 
With the downturn in the real estate market are you
working FSBO's and Expired's more than usual? If so,
how are you working them? I had started sending a few
letters to expireds in my area (form letter from CRS
Class) and I was contacted by an agent who was pretty
ugly about me soliciting his customers. Now the
letter probably crossed in the mail but at the time it
was mailed it had not been re-listed on the MLS. Not
only was the agent ugly but the broker also. Just
wanted to see how and if other agents were working
them

Cheryl Laxton

I always farm expired in the good market and slow
market. Many owners are more realistic the second
time around.

In MD your farming must contain a discaimer to the
fact your are not solisting another brokers listings.
I would not worry about the agent or the broker many
times they do re-list with the same agent a few days
later. You have no way of knowing that.

I would send a note to the broker and agent telling
them that when you sent the expired listing letter the
property did not show as active on the MLS.

I go after any expired listing that was not listed by
an inhouse agent.
Note I am speaking as a REALTOR(R) in MD. do not know
about other areas.

Glory Bee Costa ABR, CRS, GRI, E-PRO, SRES
410-745-3241-Home Office
410-310-9081-Cell
http://www.Maryland-WaterFront-Homes.com
E-Mail-Glory@GloryBeeCosta.com
Maryland Counties (Eastern Shore)
Talbot, Queen Anne, Caroline & Dorchester
Prudential Premier Properties - Easton, MD - Associate Broker

____________________________________________________________________________________
Never miss a thing. Make Yahoo your home page.
http://www.yahoo.com/r/hs
To Top Quote   Reply
Dan Weis Licensed Real Estate Agent,  OH

Date: December 23, 2007

With the downturn in the real estate market are you
working FSBO's and Expired's more than usual?
 
Hi Cheryl,
 
In my opinion, if a listing has expired and NOT been
re-listed and posted in your MLS, then you should be
allowed to solicit the listing.  (Does your local board
have any regulations against that stance?)
 
The seller's agent should have gotten an extension from
the seller if they were going to continue with them.  Then
you would not have had the opportunity to solicit them,
because the listing would not have expired.  They should
have no reason to be mad at you.  I know from time to
time an agent needs a few days to relist the property,
but then they should alert the seller that others will
attempt to contact them.  You can just politely tell
the agent that you solicited the listing, because it was
expired and if it's been re-listed since, then say you
won't continue to solicit the seller and tell them you'll
see if you can find a buyer for their listing.  That should
get them off your back.  But then again, you can't please
everyone.  There are difficult people out there.  Good luck!
 
Dan Weis, CRS, GRI, e-PRO
To Top Quote   Reply

Date: December 24, 2007

Cheryl,

I've found that by the time the letter arrives. You're too late. I'd suggest you call them the next AM after it expires. Your chances will improve.

To Top Quote   Reply
Donna Marinelli Licensed Real Estate Agent,  Doyletsotwn,  PA

Date: December 24, 2007

Cheryl.

I started my business with FSBO's, but there are not as many around now because with the downturn in the market, many home owners are not bothering to try on their own. So I have turned more attention to expireds.

Sending letters is nearly as effective as calling. I send post cards, too and have never gotten a response. But I get a great response with telephone calls. Just remember, though that that there is reason those houses haven't sold yet. They are the houses no one else wants due to price and/or condition. So before you make the call, do your homework. Was the house overpriced? How do the former pictures on the MLS look? On your first call, don't accentuate the negatives. Tell the seller what you can do for them. Give them a brief description of marketing services. ASK FOR AN APPOINTMENT.


When you meet, bring your CMA and then point out why you think other homes sold when your prospect's didn't. Discuss price, staging, condition, etc.

If they are not willing to adjust price, or take care of deferred maintenance, then you will  have to decide whether or not you want the listing. If sellers aren't really motivated, they will list with someone who just tells them what they want to hear. Eventually, if they have to move, they will lower the price or take your suggestions, but it may be five Realtors down the road. Sometimes the listing is worth the exposure-sign on the road, possible leads, etc. Sometimes not.

As far as other agents/brokers getting mad-just make sure you have an appropriate disclosure at the bottom of your letter, post card, etc. Something like "If your property is already listed with another broker, this is not an attempt to solicit your business." Obviously, you are trying to get their business, but you're not trying to steal it. Other than that, it's a free market. If they are satisfied and loyal to their agent and broker, than no harm done. If they're wondering why their house hasn't sold, then they have the right to get a 2ND opinion.

 



Long and Foster Real Estate, inc.
Doylestown Office
215-801-4777
www.bucksmonthomes@comcast.net
www.thinkrealestatenow.biz

 

 

 

To Top Quote   Reply
Kelie33@aol.com

Date: December 24, 2007

 
In reply to your question, "With the downturn in the real estate market are you working FSBO's and Expired's more than usual? If so, how are you working them?"  My Broker subscribes to a service that send our company a list of expired listings each day that have just popped up in our area MLS.  We are sent the homeowners name, address and a phone number that is checked against the National Do Not Call registry.  We have all been given Mike Ferry scripts to use when calling expireds and this has worked well for our company.
 
Kelly Smaltz, REALTOR
Coldwell Banker Preferred
1207 Fayette St, Conshohocken, PA 19428
http://www.KellySmaltz.com    


To Top Quote   Reply
steve33773@aol.com

Date: December 24, 2007

 

I started my business with FSBO's, but there are not as many around now because with the downturn in the market, many home owners are not bothering to try on their own. So I have turned more attention to expireds.

Sending letters is nearly as effective as calling. I send post cards, too and have never gotten a response. But I get a great response with telephone calls.

_____________________________________________________________

I hope you are scrubbing your expired listing calls against the federal Do Not Call list.  You cannot just pick up the phone and call someone to solicit their business.  You do not have an existing business relationship with the expired listing.  Only the agent whose listing expired has the right to call them IF THEIR PHONE NUMBER IS ON THE DNC LIST. 

Rather than a nasty phone call like the one referenced in the original post in this thread you are risking being turned in to the FTC for making an unauthorized solicitation.  The fine for this is $11,000 for EACH phone call you make.  40% of all fines assessed by the FTC for DNC violations are against Real Estate Agents and Mortgage companies.  The FTC is serious about violations...and they do follow up on complaints.

Think about this the next time you get the urge to just pick up the hone and call an expired listing.

Steve Ervin
President
The Owner & Buyer Connection, Inc.
"Connecting Realtors with Owners and Buyers"
Ask about our 100% FREE 100% Turnkey
Call Capture Property Info System

Phone: 727-535-8687



To Top Quote   Reply
gbcosta@yahoo.com

Date: December 24, 2007

 
As a REALTOR(r) with extensive experience in the area
of Professional Standards here is my take on expireds.
If a property has been cancelled and or expired it is
fair game there is no MLS or COE violation. That is
providing it has not been relisted. You should make a
reasonable effort to determine if the property has
been relisted and if so, you should not be soliciting
an active listing. That also goes for listings that
are about to expire. The latter happens more than one
would think and it's referred to jumping a listing.
That is contacting the owner 1 day before the listing
expires. That is a no no.

Neal, wish I would take the time to explain in detail
as you do. If everyone followed your recommendation
on expired there would be no problem. Thanks for the
time you take in posting.

Glory Bee Costa ABR, CRS, GRI, E-PRO, SRES
410-745-3241-Home Office
410-310-9081-Cell
http://www.Maryland-WaterFront-Homes.com
E-Mail-Glory@GloryBeeCosta.com
Maryland Counties (Eastern Shore)
Talbot, Queen Anne, Caroline & Dorchester
Prudential Premier Properties - Easton, MD - Associate Broker

____________________________________________________________________________________
Be a better friend, newshound, and
know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ

To Top Quote   Reply
Christina Ethridge Licensed Real Estate Agent,  Post Falls,  ID

Date: December 25, 2007

I’ve found the exact opposite.  We have great success solely using mailing campaigns vs. calling expireds.

 

Christina Ethridge Realtor® e-PRO, SRS

The North Idaho Dream Team LLC

GMAC Real Estate Northwest, Coeur d'Alene, Idaho

208.769.9464    |  208-819-2965 cell  |  208-262-2229 Fax

About North Idaho: www.nidt.com

North Idaho Homes for Sale: www.nidt.com/sales.htm

Looking for a North Idaho Rental? www.dmmgmt.com

 

 

RealTalk Message
Powered by RealTown Communities

View on the Web  |  click here

 

Subject:

Working Expireds

Author:

Jerry LaRose (Jerry@JerryLaRose.com)

Date:

December 24th, 2007, 5:33 AM PST

ID:

004RB2

Cheryl,

I've found that by the time the letter arrives. You're too late. I'd suggest you call them the next AM after it expires. Your chances will improve.

You are subscribed to our list as christina.ethridge@nidt.com.
To manage your subscription, please click here.
If you have forgotten your password, click here.
To unsubscribe from this list, click here, or send an email to RealTalk@RealTown.com with "RealTalk:unsubscribe" as the subject (without quotes).

 

To Top Quote   Reply