If the homeowner is calling about the possible listing on an expired listing property, then you’ll also want to try and drive by to take a look. While it is true that the majority reason that homes that are listed by real estate agents become expired listings is because the property is priced too high to begin with, there may also be some other factors involved. Driving by the expired listing property and seeing it first-hand will help you in your efforts to convince your homeowner that a property reduction needs to be taken. These factors may include a roof that is in poor condition, windows or doors that may be outdated and in need of repair or replacement or simple cosmetic issues that could be off-putting to buyers.
Make notes on anything that may need to be changed or updated. You’ll be addressing these concerns during your listing presentation so it’s best that you have your reasons for a possible price reduction well thought out in advance.
You may come across a situation where your potential client has their home for sale on a street or in a neighborhood where there are one or two or even multiple other FSBO properties. These homes will not be in your ML system so it’s important that you also make a few notes on these homes as well. If the competing FSBO properties have brochures available, make sure you pick one up. Keep in mind again that your homeowner is more than likely already well informed on his or her direct competition so it’s important that you be equally educated.
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