My 1st 30 Days Prospecting Expireds = Total Disaster. Am I wrong?

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My 1st 30 Days Prospecting Expireds = Total Disaster. Am I wrong?

Aarin Jacobs
Real Estate Agent · Fontana, CA · Member since 2015 · 7 posts · 4 votes

Hi Everyone, 

I'm a new real estate agent and I just wanted to share my experience. I signed up with Mojo and got their CRM ($10), dialer ($100), and expired data ($50). 

My experience after 30 days of diligent prospecting (in Southern California):

  • "Wrong number."
  • "We've already re-listed the house." 
  • "You're the 50th realtor to call me."
  • "We decided not to sell our home."
  • "Stop calling."
  • No answer
  • No phone number
  • Voicemails galore

I don't think that any of this is Mojo's fault. I think that new expireds are just really hard to list over the phone -- Especially in my market. If you don't agree, I would love nothing more than for you to prove me wrong.

Maybe I should have:

  • Followed up with a door knock
  • Followed up with a direct mailed campaign
  • Waited for them to age more, so there's less competition
  • Called them, first thing in the morning, at 8am
  • Given it more time 

What do you guys think? Am I crazy? Impatient? Unrealistic?

Real estate coaches always talk about prospecting expireds and how profitable they are. But in my experience, it was a total waist of time and money. Please tell me I'm wrong. 

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y

@Jacqueline Carrington I hit them with a direct mail piece in the beginning of the month, an email in the middle of the month. I get an "item of value" into their hands every 3-4 months.  Unfortunately bombardment works.  Being an agent is completely a numbers game in terms of acquiring business. The more people I touch with marketing, the more deals I do. And hitting your sphere constantly means there is a greater chance that they associate YOU with REAL ESTATE, and thus increases your chance of a referral from them. One thing you do have to prepare you for is that there are people in your SOI that will not use you, and not refer business to you...and you need to be able to accept that...which can be very hard depending on who that person is. Ive had very good friends not use me, because they did not want me to know anything about their finances.

Now that works for initial business....getting repeat business means actually being a good agent. Most of my business is repeat business and referral, which in theory means that they were really happy with the work I gave them on the first deal I did with them.

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  • George C.
    Rental Property Investor · My City, NY · Member since 2012 · 51 posts · 32 votes
    10y

    Expireds are expired for a reason, the seller's price is too high / unrealistic, not enough "retail" buyers in the market, poor showing property or less than desirable area.

      You calling them, mailing them or knocking on their door isn't going to change any of the above situations. I wouldn't put too much stock in going after expireds,  I think you are right in that it was a waste of time, you tried it, so there is no refuting that.

      To make it as a r/e agent you have to have a big network of people, like by being active in civic groups / clubs, church, etc, You have to be very outgoing, charming & trustworthy. Everyone you know should know that you are an agent and, Aarin Jacobs should be the name that they think of first when they or someone they know needs a realtor.  

    4Reply
  • Mike Gallagher
    Ogden, UT · Member since 2013 · 266 posts · 51 votes
    10y

    its a numbers game, it will take x number of calls to yield x number on appts, that will yield x number of contracts. the formula varies from state to state. most agents that have success with expireds call on average 3-4 hrs a day, they make hundreds of calls a day.

    2Reply
  • Jason Arcuri
    Real Estate Agent · Southbury, CT · Member since 2013 · 160 posts · 98 votes
    10y

    Not all expireds are the owners fault. Priced too high, doesn't show well, some are the agents fault. What did they do to get it infront of the right buyer? Are the putting it on the MLS and not doing anything else? Are the pictures GREAT quality or just ok or ****. Like @Mike Gallagher said it's a numbers game. I also wonder if that the program your using to get you these numbers i part of the reason. Maybe a lot of agents in your area are also using this program. It's been proven not to be a waste of time by many many agents. But they are really good at what they do and they time block. Now after everything I've said, I don't really waste time on it because it's a lot of numbers and I hate the salesman pitch. I've recently switched to texting FSBO and am getting some decent responses plus I don't waste much of my time.

    2Reply
  • Aarin Jacobs
    OP
    Real Estate Agent · Fontana, CA · Member since 2015 · 7 posts · 4 votes
    10y
    Originally posted by @Jason Arcuri:

    Not all expireds are the owners fault. Priced too high, doesn't show well, some are the agents fault. What did they do to get it infront of the right buyer? Are the putting it on the MLS and not doing anything else? Are the pictures GREAT quality or just ok or ****. Like @Mike Gallagher said it's a numbers game. I also wonder if that the program your using to get you these numbers i part of the reason. Maybe a lot of agents in your area are also using this program. It's been proven not to be a waste of time by many many agents. But they are really good at what they do and they time block. Now after everything I've said, I don't really waste time on it because it's a lot of numbers and I hate the salesman pitch. I've recently switched to texting FSBO and am getting some decent responses plus I don't waste much of my time.

    I've never thought of that! Great tip!

    1Reply
  • Dawn BrenengenBusiness Member
    Moderator
    Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Aarin Jacobs Some agents swear by cold calling.  It's just not my cup of tea.  I hate the phone, and I hate to bother people.  That being said, you can't just do something for a short period of time and then quit. You committed money and time to the already.  Keep doing it until you have had a true measure of results.  30 days isn't enough

    Also, I hear calling first thing in the morning is best...that way you're not the 50th agent to call them.

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    2Reply
  • Zach SikesBusiness Member
    Residential Real Estate Broker · Edmond, OK · Member since 2011 · 452 posts · 183 votes
    10y
    My team and I use Mojo and Vulcan7. We find that the phone numbers are much better in Vulcan than in mojo, so you might look there. It's paid for itself to over and over again for us. That being said, you can have the best dialing service and number in the world and still fail. What scripts and dialogues are you using? Overcoming objections, multiple closes, really understanding motivation, etc are all really important in expired prospecting. If you are able to master expires, it will make you better at listing homes than 80% of the agents out there. Do you have script and role play partners?
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    3Reply
  • Jacqueline Carrington
    Investor · Corona, CA · Member since 2014 · 746 posts · 372 votes
    10y

    @Jason Arcuri great idea! I wanted to start texting FSBO as I was emailing instead. Do you do a short intro or kind of get straight to the point since it is a text?

    0Reply
  • Aarin Jacobs
    OP
    Real Estate Agent · Fontana, CA · Member since 2015 · 7 posts · 4 votes
    10y
    Originally posted by @Zach Sikes:

    My team and I use Mojo and Vulcan7. We find that the phone numbers are much better in Vulcan than in mojo, so you might look there. It's paid for itself to over and over again for us. That being said, you can have the best dialing service and number in the world and still fail. What scripts and dialogues are you using?

    Overcoming objections, multiple closes, really understanding motivation, etc are all really important in expired prospecting. If you are able to master expires, it will make you better at listing homes than 80% of the agents out there. Do you have script and role play partners?

    Thanks, Zach! I'm actually enrolled in the Tim and Julie Harris coaching program, so I use their scripts. However, I don't have a partner, so thanks for the reminder -- I definitely need to get one! 

    0Reply
  • Jason Arcuri
    Real Estate Agent · Southbury, CT · Member since 2013 · 160 posts · 98 votes
    10y

    this is what I put

    "I saw you home advertised on Zillow.  As inventory is dwindling in our area over the Winter, serious buyers are still out buying, and watching for new listings to come on the market.  Let me know if I can help you sell it, or if you have any real estate questions that arise during your sale.  I'd love to take a look and get you moving!  INSERT YOUR CONTACT INFO HERE If it helps at all, some of my past clients have added their reviews of my services on Zillow also."  

    2Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    10y

    @Aarin Jacobs  my best guess is the average new investor takes about 6 months to do a deal. Some take much longer than that. 

    That said in your market expireds may not be the best strategy. It is generally considered best to have multiple strategies for finding deal going at any one time

    2Reply
  • David Hunter
    Residential Real Estate Agent · Cleveland, OH · Member since 2008 · 579 posts · 225 votes
    10y

    Do everything you said... cold call, door knock, and follow up with a mailing campaign.

    Offer something of value!  Instead of asking the expireds to list with you, tell them you would like to drop off a Home Seller's Guide that will help guide them to get their house sold.

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Trying to get business, especially as a new agent from expired listings is a complete waste of time.  One of the responses you mentioned.."You're the 50th realtor to call me." is the main reason.  On top of that, in that mix are some very experienced agents. You are not going to win that business.

    Instead as a new agent, focus on your sphere of influence. Also keep in mind you really need to market to your sphere.  My business literally changed over night when I realized I couldnt just assume my sphere would send me referrals, but instead I really needed to market to them and ask for referrals.

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    4Reply
  • Jacqueline Carrington
    Investor · Corona, CA · Member since 2014 · 746 posts · 372 votes
    10y

    @Russell Brazil what's your best advice for marketing to your SOI without bombarding?

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    @Jacqueline Carrington I hit them with a direct mail piece in the beginning of the month, an email in the middle of the month. I get an "item of value" into their hands every 3-4 months.  Unfortunately bombardment works.  Being an agent is completely a numbers game in terms of acquiring business. The more people I touch with marketing, the more deals I do. And hitting your sphere constantly means there is a greater chance that they associate YOU with REAL ESTATE, and thus increases your chance of a referral from them. One thing you do have to prepare you for is that there are people in your SOI that will not use you, and not refer business to you...and you need to be able to accept that...which can be very hard depending on who that person is. Ive had very good friends not use me, because they did not want me to know anything about their finances.

    Now that works for initial business....getting repeat business means actually being a good agent. Most of my business is repeat business and referral, which in theory means that they were really happy with the work I gave them on the first deal I did with them.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group546 Reviews
    WebsiteView Page
    5Reply
  • Aarin Jacobs
    OP
    Real Estate Agent · Fontana, CA · Member since 2015 · 7 posts · 4 votes
    10y
    Originally posted by @Russell Brazil:

    @Jacqueline Carrington I hit them with a direct mail piece in the beginning of the month, an email in the middle of the month. I get an "item of value" into their hands every 3-4 months.  Unfortunately bombardment works.  Being an agent is completely a numbers game in terms of acquiring business. The more people I touch with marketing, the more deals I do. And hitting your sphere constantly means there is a greater chance that they associate YOU with REAL ESTATE, and thus increases your chance of a referral from them. One thing you do have to prepare you for is that there are people in your SOI that will not use you, and not refer business to you...and you need to be able to accept that...which can be very hard depending on who that person is. Ive had very good friends not use me, because they did not want me to know anything about their finances.

    Now that works for initial business....getting repeat business means actually being a good agent. Most of my business is repeat business and referral, which in theory means that they were really happy with the work I gave them on the first deal I did with them.

    Russell, this was actually my hunch and i'm so glad that you affirmed it. Thanks for taking the time to write to me!

    0Reply
  • Kristy Black
    Real Estate Agent · Altoona, PA · Member since 2015 · 1 post · 0 votes
    10y

    My broker has stressed that he does not want us calling expired listings. If a homeowner is on the National Do Not Call Registry and you call them you can be fined. He does encourage us to "chase" expireds, but he wants us knocking on the door and talking to the owner in person.

    0Reply
  • Anthony Palacino
    Minneapolis, MN · Member since 2013 · 13 posts · 0 votes
    9y

    @Zach Sikes, 

    Sounds like you have an AWESOME system over there.  Very Impressive !  I am currently just starting out, and going crazy trying to pick the most effective tools to really Rock, and nail down some clients.  Where do you recommend me to sharpen my skills ? ex. Overcoming Objections, Really Understanding Motivation, GREAT scripts / dialogues ?

    So have you tried other dialers, other than MOJO ?  You find that MOJO's dialer works best ?, but their phone numbers are not soo good ?

    I have been hearing that Vulcan 7 has the most accurate phone numbers.  What's your opinion ? Have you used other sources for data ?

    I also have heard for an all in one suite, a good one is "Seize The Market".  It has it's own dialer, CRM, etc.

    Thanks,

    Anthony

    0Reply
  • Zach SikesBusiness Member
    Residential Real Estate Broker · Edmond, OK · Member since 2011 · 452 posts · 183 votes
    9y

    @Anthony Palacino

    I'd be happy to discuss things further with you - although I don't have enough info right now.  How long have you been in real estate? What success have you had? What skills are currently sharp?  How much training do you have? 

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  • Anthony Palacino
    Minneapolis, MN · Member since 2013 · 13 posts · 0 votes
    9y

    @Zach 

    @Zach Sikes

    Thanks for the response Zach.  I have been a Realtor on and off for many years.  In 2011 i got my license reinstated to save a considerable amount of costs for my business partner and I with our  flips.

    Much of what you said, is definitely ringing true with what I am learning from the training, the importance of mastering these factors:  Overcoming Objections, Really Understanding Motivation, GREAT scripts / dialogues ?

    The last year, I have done approx 1/2 a dozen transactions as a Realtor, and have recently been going through a very good 90 day mastery training course with Joshua Smith.

    I am very excited, and ready to go. I just want to make sure that i have most of my ducks in a row. Such as: Website, CRM, Dialer, Source for Exp, Canc, and FSBO #'s.

    I see you work with MOJO as a Dialer.  ?  Not for #'s ? 

    Vulcan 7 for #'s

    Everybody always talks about Landvoice.  What's your opinion / experience with it ?

    Have you heard of "Seize The Market" ?

    Thanks Zach

    Sincerely,

    Anthony

    0Reply
  • Andrew Hall
    San Diego, CA · Member since 2016 · 43 posts · 21 votes
    9y

    I'm not an agent and I don't use the software that you are talking about. I'm new to REI and just finished my first 30 days as well. Had a few leads and am going through the same situation. All I can say is you are going to have to get a lot of "No's" to get that one "YES!" Just be consistent and don't give up. I've spent a lot of money on direct mail and I'm making calls everyday. DON'T get discouraged and take the advice from these professionals on BP. Find out what will work for you in your market and keep on being consistent and you will get that deal. I wish you the best of luck and hopefully you will close your first deal soon!!!

    0Reply
  • Travis Callihan
    New to Real Estate · Plumas Lake, CA · Member since 2016 · 32 posts · 24 votes
    9y

    @Kristy Black I am looking at investment properties in Bedford/Blair counties and would love to get in contact with you.

    0Reply
  • Kieran Jackson
    Residential Real Estate Broker · West Hollywood, CA · Member since 2012 · 13 posts · 2 votes
    9y
    Hello @Aarin Jacobs,

    Welcome to the real estate brokerage community in SoCal! It's been 12 months since you've made your original post about prospecting expireds not working out. Can you give us a brief update on what your experience has been like over the past year?

    When you call expireds, and they tell you "we've already relisted" that let's you know that you are on the right track to signing a listing! Except for the owners that have absolutely positively conveyed to you that they do not want you to call them ever again... You should be calling them all again!

    Remember, no one will ever list with you over the phone. The phone call is for setting the appointment only. I'm sure your coaches have told you that it takes several attempts to ask for an appointment (approximately 7) before a homeowner will agree to meet with you. At this meeting is where you can get the listing signed.

    Looking forward to your reply.
    0Reply
  • Pat McGrath
    Real Estate Agent · Lincoln, CA · Member since 2014 · 225 posts · 43 votes
    9y

    yes aarin, what is the lastest update? it has been a year, i'm curious as well how things have worked out (or not worked out...)

    0Reply
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