Expireds

By the Numbers

Percentage of business from expired listings: 50%
Calls to a contact: 14.2
Calls an hour: 48 – 62 (around 50,000 calls per year!)
Contacts to an appointment: 6.5 – 12
Appointments set a day: 1 – 3
Monthly investment: $349 ( Vulcan7 ) + $100 (Mojo Triple line dialer)
Total hours prospecting per week: 18 (that’s 900 hours per year!)
Hourly earning: About $245 per prospecting hour

Why Expireds

Tim discovered that in one of the hottest markets ever, agents were putting unrealistic prices on homes, not preparing for showings, and barely putting effort into marketing. The consequence? Lots of expired listings out there!

Tim’s Approach

Backstory

Before real estate, Tim built bicycles. So, when he entered real estate with a limited sphere to call on, he took stock in his greatest virtue – his ability to work hard. In order to build from the ground up, Tim dove into the challenge of calling expireds. Today, he’s built a great track record, expanded his network, and successfully rebranded himself as one of the most reliable, knowledgeable, and hard working agents in his market.

Lead Generation and Follow-up

• Tim uses Vulcan 7 & Mojo for lead generation and uses the auto-dialer.
• All leads immediately receive an automated email using a Vulcan 7 template.
• He uses KvCore for his CRM and integrates it with FollowUpBoss.
• He segments his leads as follows:
• Hot (looking to list within 30 days) – follow up daily
• Warm (may list within 30 days to 6 months) – follow up weekly
• Seller nurture (anything longer than 6 months) – notes in CRM trigger alerts at intervals depending on what the lead has said
• KvCore automates Tim’s emailing that includes:
• A monthly market report
• A monthly home evaluation
• A weekly email which goes out to his entire database. Content includes homes he’s recently listed, a restaurant of the week, and any relevant news.

Mindset

• Tim is a former boxer, so he knows a thing or two about taking punches. One of the most important aspects of cold calling is staying motivated, sharp, and fluid.
• To stay on top of his game he goes to the gym five days a week. He also watches Tom’s Mindset Monday. One of his favorite lines from Tom is, “No one cares if you’re tired. No one cares if you’re uncomfortable.” Tim says, “I have four children to support, so it would be selfish for me to say I’m uncomfortable with something I have to do.”

Work Ethic

• Tim blocks his time and never compromises his prospecting times:
  • Cold call prospecting from 8am-11am
  • Call follow-ups from 11am-12pm
• That’s 4 hours on the phone every day – but Tim gets one appointment a day for his hard work.

Tim’s Toolkit

“Here’s Tim’s morning calendar for every day. Purple is non-negotiable. Nothing gets in the way of prospecting!”

Permission-based introduction

Hey, Bob? Bob, this is Tim Dominick with Samson Properties, thank you for taking my call. I’m sure this call is a total interruption to your day, Bob, would it be okay to steal 27 seconds from you to share with you why I’m calling, and from there you can decide if we should continue or not?

Direct introduction

Hey, Bob? This is Tim Dominick with Samson Properties, just giving you a quick call. I see that your home at 123 Main Street came off market. Did you sell that or do you still have it?
[RESPONSE]
Bob, the reason why I’m reaching out right now is to see what your plans are for interviewing the right agent for the job of actually getting the home sold?

Close

Bob, I specialize in selling properties other agents failed to sell and I’m just curious would it be okay for me to pop by the property one day this week and possibly share my thoughts with you on why I think the property did not sell, and also to potentially share a plan that will cause the property to sell. Does that sound fair to you?

3 Things You Can Do Now

1

Choose the most suitable technology and use automation features. Use email templates provided for you if they’re suitable. Otherwise, craft your own. Make sure this content is going out on a regular basis.

2

Make sure you’re taking care of yourself. Set a time to go to bed and, as one can never state it often enough, have a powerful morning routine.

3

Establish the schedule that works for you – and stick to it.