EXPIRED STRATEGY: How Far Will You Go To Get A Million Dollar Listing?
Summary
How far are you willing to go to get a 15k or 50k commission check from an Expired?
First, you want to get them interested in having a conversation with you and then get them to take action.*Click here to download your FREE copy of the BEST Expired script (plus other core real estate scripts).
How?
- Send them a $400 iPad. Set it in a mode where it automatically plays a video message from you when they turn it on.For a potential 50k commission check with a million-dollar Expired, you could invest 8k in 20 iPads at $400 each. If you get even just 1 Expired to list with you, you’ll have already made a profit.
- Or, you can send them a bottle of wine with an attached personal message.
Doing something special for them gains you credibility & gets you noticed because it’s not what agents typically do.
It also triggers the Law of Reciprocity and makes them feel that they (at the very least) owe you their attention.
More than anything, this tells them that if you’re willing to go to that extent to get their attention, then you’re going to do whatever it takes to get their house sold for top dollar.
Full Transcript
How far are you willing to go to get a listing? We’re talking about how far you’re willing to go to get a $10,000 paycheck or a $15,000 or $20,000 or $30,000 paycheck? Or if you’re in the luxury market, how far are you willing to go to get a $50,000-plus paycheck? So that is a question that I was addressing at a recent training that I did and that I was talking about to some of my coaching members, is how far are you willing to go to get a listing? But to begin with that, how far are you willing to go just to get someone’s attention?
If you know that it’s a potential $50,000 commission check. So let’s just say it’s a $2 million listing. $2 million listing, 2.5%, $50,000. Okay, if you’re doing 3%, you’re talking $60,000 potential commission check. All right. If you’re talking about 3.5%, now you’re talking about a $75,000 potential commission check.
How far should you and would you be willing to go to get that listing?
And the first thing you gotta do, if it’s somebody you do not know, is you’ve got to get their attention. You got to get their attention. You got to get their interest. You gotta get their desire to want to have a conversation with you and then get them to take action to do it. And so, traditionally we do things like we send out postcards. We send out mailers. We do direct mail. We’ll call people. We’ll talk to people. We’ll do stuff like that.
So the question is, how far are you willing to go just to get their attention?
What should you do to get a conversation going with an Expired seller? You’ve got an expired listing. It’s $2 million or it’s $500,000, whatever it is. What are you willing to do to get their attention?
Now you may make a phone call. You may go knock on their door. You may deliver an Expired Packet to them, which is all great. Okay. But what if you can’t get their attention that way? What if there’s no phone number? They’re on the “Do not call,” and you can’t call them, or they’re in a gated community and you can’t talk to them. What are you willing to do to get their attention? Well, you can send them something nicer. All right.
What grabs their attention
I’m just going to give you an example of what gets people’s attention when you send something in the mail? Because I check my mail regularly, and when I get the mail, I look at stuff. And today, as I checked the mail today, I had probably four postcards from various real estate agents. Okay. I don’t even look at them. They’re postcards, they’re junk mail. I get them. I mean, I’ll notice it, but I’m throwing them away. I couldn’t tell you their names, I couldn’t tell you anything about them. Some of them I get every month. There’s one company, I don’t remember who it is, but I get them all the time. Since they send a postcard a month to me, it’s just junk mail to me.
But then I got this today, and it came in a first-class manila envelope. So I opened it up, and when I opened it up inside of it was this. Now this is not a real estate thing, because I’ve never seen a real estate agent willing to spend this much money to get my attention. But when I started to open it, it basically looks like an Apple computer except instead, it’s got a BHG’s logo.
Well, it’s like when I start pulling it out, I’m seeing this image of, okay, that’s a 3D shot, kind of a picture of a computer. I’m like “Okay, you got my attention.” Now this is not just a cheapo piece of thing. This is a one, two, three, three-panel marketing piece that’s got when you open it, you’ve got the front. You’ve got a keyboard inside. Now, isn’t that cool. So now I open it up and I actually have my notebook computer right here. Boom. Now, this got my attention, and I’m like “What in the world is this?” Again, it’s a computer, it must be something good. Aha, “Kevin, we’d like to welcome you to a better lending experience.” It’s a lender that specializes in business loans and they’re trying to loan me money. How much can they loan me here? I don’t even know if it’s worth looking at, up to $250,000.
The reason that’s important is because this is not the kind of marketing piece you send when you’re looking for somebody for a payday cash loan that you can load them up to $500 or $1,000 or $4,000. But this is a company that they’re looking at business owners, small business owners that they can make loans for up to $250,000, which means they know that when they make a loan to me for $250,000 or $200,000 or $150,000, that they can expect a certain amount of return on that. It’s going to make them a certain amount of money. So they look at it and go, “How many of these do we have to send out to get a phone call?” And I’m sure they send out enough of these that they have an idea that we can invest in a mailer this nice.
Now, I’ve never gotten a mailer ever from a real estate agent prospecting me as geographic farming or as an… I’ve never been an expired seller, so I don’t know how that would work. But I’ve never got a piece of mail this nice that was literally like, wow, this is cardstock. It’s cardstock, it’s glossy finish, and it’s three pages long, and so it’s got their message here. But it got my attention. I mean, look at it, and basically this is like a website. It’s like a sales page on paper. And they got me here and then they’ve got links for me to go to the website to get more. They’ve given me a QR code. So I can just grab my smartphone and I click on it and I can read that and all of that kind of stuff.
So, here’s how I want you to think about this. And this is what’s critical here, is I’ve got this in the mail that made me look at it. But I also have a guy that I work with, or not work with, but I’ve been in an event with. He is in the financial sector and financial services industry where his clients are high net worth individuals that typically are worth $10 million or more. He literally, to get in front of them, he does not send them a picture of a computer. He actually sends them in the mail a brand new iPad. Now this is not a brand new one. You can see finger smudges all over it, but it’s an iPad.
They’ll send a brand new iPad and they put it in a mode where all you can do is when you turn it on, it just says, “Click Play.” You click Play and a video comes up on it, and it is a message from the person talking to them about, hey, listen, I’m sure you’re wondering who it is, what this iPad is for and who’s this crazy person sending me an iPad. Well, here’s the deal. I have an opportunity for you. I have something I want to talk to you about, and so basically this iPad is yours to keep just for giving me an eight-minute listen.
He literally sends free iPad to people, brand new iPads, it’s about 400 bucks a pop, that he sends to them, brand new for free with one video message on it. And when you’re done listening to it, he says, “If you like this, you can give me a call or you can click here to talk to me,” whatever. He knows his numbers that his average consumers, average client, is going to be worth about $50 to $100,000. And so he’s looked at his numbers and says, “If I send out 20 of these, I get a client, because out of 20 of those, 10 of them will actually engage in a conversation with me and one to three of them will actually hire me. They’ll actually invest their money with me and this is the kind of money we’re going to make, because we’re talking tens of millions of dollars.”
Expired strategy: how to get them to notice you
Now, you’re a real estate agent. You’re looking at a $50,000 commission check with a $2 million Expired seller. What could you send them? You could send them a gift, a special gift with a message in it. You could send them an iPad, 400 bucks. If you have to send 20 of those, that’s what? That’s $8,000, and if you could convert… If I sent 20 of those to 20 high-end sellers in a year, how many of them would watch it and just you’re like, who is the agent that no agent has gone… and you tell them this. No other agent has gone to this extent to just get your attention.
Now, if I’ll do this to get your attention, imagine what I will do to get your house sold for top dollar. Boom. Out of 20, you’ll get over half of them that will contact you and say, “Okay, I’ll listen to what you say.” And they’re already, they’re expired, they’re canceled. They’re already [inaudible 00:08:11] were interested in selling their house. One client, one client, $50,000 paycheck. $8,000 investment, $50,000, but you’re probably going to get two or three or four. And you get into these high net worth people, people in the luxury market.
So I just want you to think about the lower end. What if you sent them a bottle of wine and say, “Hey, I know it’s frustrating not having your house sell. Your house hadn’t sold. Here’s a bottle of wine just to drown your tears and relax a little bit. And while you’re drinking this wine, if you enjoy it, I hope you’ll think good thoughts about me and have good vibes. And if you want to have a conversation with me about how I can help you get a better result in the sale of your house, here’s my link or here’s my number. Please give me a call, text me or whatever and let’s talk.”
Now, here’s what will happen. You will get their attention and just the extent that you’ve gone to immediately gains credibility. It gains a sense of reciprocity where they feel like they owe you a conversation because you’ve given them something that’s very nice, whether it’s a $400 iPad or a $50, $150 bottle of champagne or wine, or some other kind of gift that is special to you or that has a special message and has a special meaning to you that says, “Hey, here’s something because I want you to know I understand your situation. I appreciate it and it matters to me. And if I can help you and you’re interested in having a conversation about how we can get you a better result, you want to talk to me.”
Here’s the question. What are you willing to do to get a listing? Guys, all the old traditional marketing stuff that everybody’s been doing forever and ever and ever is old, it’s worn out. You got to do something fresh. Think about it. Let me know what you think. Write in the comments, give it a thumbs up. If you like this and if you have questions, let me know. Have a great day.