Client Success Story: Learn How Agent Krista Schrader Obtains Massive Success Calling On Expired Listings and FSBO Leads
Krista Schrader, has been a model of success in the real estate industry, not just because of her dedication to the skills of her profession, but also by having the right tools and resources at her disposal.
Krista is unlike many other real estate agents, who have not made a commitment to daily purposeful lead generation. She focuses on contacting the hottest seller leads first, each and every morning. Krista understands that talking with seller leads who are typically prepared to sell in the next 30 days, are the ones she should be focusing her time on every morning. She accomplishes this through Espresso Agent, a Dialer and CRM software that provides agents with daily premium contact information for expired and FSBO sellers leads in their market area. If you are considering this method of lead generation to quickly build your listing inventory, keep reading and learn from one of the best.
During a recent LCA Webinar, Krista Schrader and Lab Coat Agents co-founder Tristan Ahumada, discussed effective strategies for obtaining massive success calling on expired listings and FSBO leads. While we highly recommend watching the video, here’s an excellent breakdown and summary of Krista’s amazing tactics.
Use a Script, But Don’t Sound Scripted
Following a script is a great way to direct an expired/FSBO conversation to a close for a listing appointment. For those who may not have as much experience with these types of leads, a script can certainly come in handy. The problem with relying solely on a script is that it can sound too scripted. That’s why allowing yourself the flexibility to deviate slightly and expand off the script, can help you to ask more probing questions and to distinguish yourself as the professional.
“We do have scripts, but the focus of the script is to be more of a guideline. But, you need to ask questions to find out what the problem is.”, Krista says. Her concept about scripts is as follows. When conversing verbatim by a script, you’re not giving this person the opportunity to tell you why they have been disappointed thus far nor the ability to expand on additional details about their motivation. Krista Continues, “But, you can’t do that if you’re focused on a script, because you’re not asking deeper questions,” Scripts are there to guide you; so ask questions, listen intently and make real conversations. She also suggests being “soft-spoken, but direct” as to avoid sounding unfriendly which will cause you to be more approachable and also professional.
Work on Your Approach & Strategy
Having a well thought out strategy for calling expired and FSBO leads is a must in order to achieve duplicatable great results. First impressions matter a lot when it comes to expired and FSBO prospecting. Your initial approach will make a huge difference in how the owner perceives you and whether you are able to establish good rapport to set an appointment. Tristan says, “People are tired of being talked to like they’re being sold to.” That’s why Krista suggests a few opening lines, such as: For Expired leads: “Hi, this is ___ with ____, I was wondering if you’re the owner of…?” or For FSBO leads: “Hi, this is ___ with ____, I’m sure I’m not the first one to call you, but…”.
Strategic additional questions will help you gain momentum in a conversation. When calling a FSBO, your initial approach could be, “Are you cooperating with any real estate agents that are bringing you buyers?” This is intriguing for them, and a way to see how open they are to changing direction. A great follow up question might be, “I am in your area often, when would be a good time for me to swing by for a couple minutes to preview your home?”
Espresso Agent, a leading Expired & FSBO Data and Dialer provider, suggests that when calling an Expired lead, your initial approach could be, “Tell me a little bit more about your goals. Where will you be going next?” This allows the expired lead to move away from their frustration towards focusing on their goal; giving you more time to ask additional probing questions and build stronger rapport. Espresso Agent also says, building rapport is achieved through actively asking open ended questions and listening. They say that leads “hear” you listen, when you repeat and approve what they are saying. Never make the lead feel like they are wrong and always acknowledge what they are communicating to you.
Follow the “No”
Krista says, “People need to stop quitting when they hear their first no.”. When the seller is saying “no”, real estate agents should follow that, and not attempt to pressure this person into saying “yes”. In other words, you should try to understand why they are saying “no” in the first place. Learning how to ask the right questions takes a certain skill which can be learned through practice. One example Krista gave was to ask the prospective client when a good time would be to call back or do they have a deadline for themselves if the house doesn’t sell or if they don’t get any offers.
Some leads may say that they aren’t interested, but others may say, “You know, in three months if my listing doesn’t sell, then perhaps you can give me a call back.” Take your time and ask additional questions. Find out why they have a deadline, and if you can, try and ask why they think their listing expired in the first place, or why their listing is not gaining interest.
In the case of an FSBOs, chances are they will ask you about your commission. After all, the reason they are selling on their own could be that they do not want to pay a commission to a realtor. Help them to understand the value of having their home marketed properly and having a professional real estate agent negotiate for them.
Prospect Expired Listings and FSBOs Daily
So, how often should real estate agents prospect? Well, Krista does it every morning, beginning at 9 to 9:30 in the morning. She and her husband Luke spend about two hours a day doing this, and because there are two of them, one can contact expireds and the other can contact FSBOs.
“We try to hit twenty contacts a day. If you don’t sit down and call twenty people, you’re missing a paycheck ninety days from now.” If someone is not interested, someone will be.
Krista and her husband Luke get all their expired listings and FSBO listing information from Espresso Agent. Learn more about how they can help you grow your real estate business.
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