Should You Prioritize Expired Listing Follow-Up?
Feb 27, 2023Following up with expires is essential but should be removed from your list. Your list to visit expired as soon as it goes expired. If it's inside your farming area when you get that alert, you should go right away after that, though, every minute after and every day after, your chances of getting that lead decrease. You should decrease that on your priority list doesn't mean take it off your priority list; it just means move it down a bit. So you're going to go once right away, that's your best shot, take your best shot right out the gate and then throw it in your follow-up binder.
We're not servicing an area for farming; we're teaching new team members how to farm. So we isolate which area we're farming, and they get assigned the different expires. So if they're given a sub-area, such as a dollar 10, we would give them all the expired storage areas once the agent says it's expired ones if they get the listing or the scoring appointment right on the spot. However, sometimes that doesn't happen; you may want to follow up repeatedly. So they bring the MLS sheet back, which goes into the expired binder. That way, the next time somebody goes door-knocking in that sub-area, they can flip through here and see if they're going to any of the streets that maybe somebody was still expired on.
You can continue to follow up for years. We have followed up with some expired for 2,3,4, or five years and have some burden down the road. I had one a couple of years ago that had expired for three or four years before we found it. And that was simply by following up over and over and over again. So you must remember that when a seller initiates the sale, they take their home to a market. That's a sure sign that they have the intent to sell. They're motivated; otherwise, they wouldn't sell their home.
However, sometimes due to expectations or dissatisfaction with the agent with the price in the market, the homeowner will take a break after maybe they feel the way they thought. They get discouraged they step back from the market, but that does not mean their intent is over.
A day can come again when they decide to give the can another day, and you want to ensure that you're the agent top of your mind, so frequently check back on them when you're already in that farming area. Once you've got on the one time any follow-up after should only be associated as a time priority in your schedule when you're already headed to that area.
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