Expired listings can make sellers feel like they’ve hit a dead end with no way out—and it’s your job to sweep in and save the day! However, it can be hard to know what to say to a homeowner (and how to say it) in a sensitive situation.
This is where expired listing scripts come in handy. In this article, we’ll go over what an expired listing is, why you need a script, and provide cold call sample scripts that you can tailor and adapt to whomever you call. This is your chance to score a win for you and a homeowner, so get ready and prepare!
What are expired listings?
Expired listings are properties that haven’t sold by the end of a period stipulated between a seller and a listing agent. You can find these listings on Zillow, Realtor.com, or other reputable listing sites. To work with an expired listing, be well-versed in any property background information before making a cold call.
Why do I need an expired listing script?
Let’s be honest for a moment—using a real estate script to target expired listings is probably way out of your comfort zone and might make you feel uncomfortable. However, these scripts can be a great baseline to help you connect with homeowners.
Expired listing scripts can help you show homeowners that you’ve got the expertise, confidence, and experience to help sell their property, especially if they’re discouraged from a failed sale or unhappy with their previous agent.
How to approach expired listings
We’ve created scripts for scenarios you’ll likely encounter when dealing with expired listings. Take a look below to find inspiration for your next cold call campaign!
Script #1: “We’ve decided to rent our property instead of selling.”
If a home fails to sell, a homeowner might rent it to avoid losing money while a house collects dust on a listing site. Show them that this isn’t their only option.
Agent: Hi, I’m calling about the house at 123 Main Street. Can you tell me if it’s still for sale? I noticed your initial listing expired.
Owner: Yeah, it was for sale, but we’ve decided to rent it out instead. We had a hard time finding a buyer.
Agent: I understand your decision. There is definitely money to be lost when a home is simply sitting unused. However, would you consider selling again if I could bring you an offer at a price you’re happy with?
Owner: Well, it would depend on the offer. I’m interested to see what you’ve got, as my initial plan was to sell.
Agent: Awesome! Let’s meet briefly by phone or in person sometime this week.
Script #2: “It feels like a bad time to sell our house.”
Homeowners might chalk their lack of a sale up to a bad market, feeling that they’ll try again later with better luck. This likely isn’t the case, so it’s up to you to convince them otherwise.
Agent: Hi, I’m calling about the house at 123 Main Street. I saw it listed for sale recently but noticed that the listing expired. Is this home no longer for sale?
Owner: Yeah, not anymore. We were hoping for a sale but didn’t get any offers for our asking price. It seems like it’s just not a good time to sell these days, so we might try again later down the road.
Agent: I understand your disappointment. However, hearing that your home didn’t sell makes me wonder if your agent didn’t properly evaluate your home. I’ve got a lot of clients that are interested in a home in your area. Were you provided with any information on a market analysis?
Owner: None. We didn’t even think of that.
Agent: It’s an essential thing to have. If you price your home even just a tad too high, you’ll end up missing out on many buyers that are looking for a home at a slightly lower price. I have a lot of information I’d love to share with you on pricing homes to sell quickly. And as I mentioned before, I’ve got clients lined up desiring to find a home in your area.
Owner: I’m open to seeing what you’ve got for me, especially if you’ve got buyers lined up.
Agent: Great. When would be a good time to set up a meeting?
Script #3: “We’ve had trouble getting offers, so we’re going to fix it up a bit.”
Some homeowners might feel as if they need to do some work on their house before attempting to re-list. However, this may not always be the case. Do your research on the market and present it to the homeowner during your call, and you could earn yourself a valuable listing!
Agent: Hi, I’m calling about the home on 123 Main Street. Is it still for sale? I noticed that the online listing had expired, but I’m hoping it’s still the case that you’re selling.
Owner: It’s not for sale anymore. We decided to fix it up, as we’ve had trouble getting offers and figured it’s because the home could use a little TLC.
Agent: I’ve got experience with selling homes in your area, and I feel that it would be counterproductive to let more time pass before making it available to buy again. What if I told you that I could help you get the offers you’re looking for without making expensive and extensive repairs?
Owner: How so?
Agent: I’ve got market data that we can review to help you decide if fixing up your home will be worth the investment. Why don’t we set up a meeting to chat before you start on the renovations?
Owner: It won’t hurt. Do you have time on Thursday?
Looking to give an expired listing an extra boost?
If a seller with an expired listing has agreed to work with you, Virtuance can help give the listing an extra dose of appeal. With professional photography services, virtual tours, aerial photos, and marketing enhancements, we can help an expired listing get back on the market in style—selling quickly and at top dollar!
