As a solo agent, Gossard managed to sell 48 homes in the past 12 months and generated over $301,000 in GCI (gross commission income). Many of these sales were a direct result of his prospecting efforts with expired listings.
Listen to his podcast interview below to hear how Gossard got his start in real estate and what he’s doing to succeed in today’s competitive real estate environment. Read on for specifics on Gossard’s methods for finding and getting expired listings.
Sources of information on expireds
There are quite a few services you can use to get information on expired listings, so don’t feel stuck if you find yourself using a service that you don’t like for one reason or another.
Gossard has tried several over the course of his real estate career.
Since trying REDX for the first time a couple years ago, it’s been his preferred platform for getting information on expireds.
The right dialer makes all the difference
Although Gossard is a big fan of the REDX service, he doesn’t use its dialer. Instead, he imports data from REDX into Mojo Dialer, which is capable of dialing three different numbers simultaneously.
Why is this such an important feature?
Well, for Gossard, it’s a huge time saver. He calls anywhere from 40-100 expireds per day, and of those calls, only five to 15 people will actually pick up the phone. By dialing three numbers at once, he triples the efficiency of his prospecting efforts.
The most common objections from expireds and how to overcome them
With such a small percentage of expired-listing leads actually answering the phone, Gossard does everything he can to make each conversation count by closing successfully with a scheduled appointment.
Like any good prospector, Gossard does this with an excellent cold calling script.
The script, which you can hear in full by listening to the podcast interview, helps Gossard overcome most objections with ease.
Here are some of the most common objections he encounters and the objection handlers he uses to disarm them:
‘We’ve already tried to sell before, and it didn’t work out. How will it be any different with you?’
“The service is never exactly the same when you go to your favorite restaurant, right? Well, that’s what you’re going to find with agents. They’re all independent contractors, and unfortunately, not all of them are as good as others. I’d like to give you a chance to see how I’m different from your last agent.”
More often than not, expired-listing prospects have a poor opinion of agents, typically because of their last listing experience.
When this is the case, you’ll need to explain that you’re not like their last agent. Gossard likes to break down why not all listing agents are the same with a highly relatable analogy.
‘My neighbors’ homes sold for more, so I don’t see how my asking price can be too high.’
“Well, you know, when I look at the comparables, I see an updated kitchen, a new roof and a finished basement. How do you think your home compares with those? If I was a buyer in the marketplace, I’d be willing to offer more money for a property with more amenities. It’s simply a better value.”
To use Gossard’s strategy for overcoming this type of price-related objection, you’ll need to have comparables in front of you. Then, you can say something similar to Gossard’s response above.
‘There’s another agent who doesn’t think my asking price is too high. Why should I list with you for less?’
“There’s a reason my homes sell so quickly and for such a high percentage of our original list price — I’m good at interpreting the market, and I’m good at negotiating the best deal for my clients.”
There are plenty of agents out there who are willing to let clients list their homes at unreasonable prices, usually because they’re eager to get the listing and not worried about the problems poor pricing will cause later.
That’s never been Gossard’s strategy.
Instead, he gives each client an honest assessment of their home’s current market value. After that, he breaks down why listing with him is the better choice, including the line that positions him as an experienced, competent listing agent.
Give Gossard’s strategies and objection handlers a try the next time you’re doing a prospecting session with expireds. You’ll be surprised by how well they work!
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.