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  • Writer's pictureLoida Velasquez

Mastering Expired Listings: Tips from a Mike Ferry Coach

Updated: Nov 29, 2023

Are you ready to take your real estate game to the next level?


Expired listings can be the golden ticket to success in this competitive industry.


In this blog article, we're going to dive deep into the world of expired listings and learn some invaluable strategies from none other than a Mike Ferry coach, Robert Villanueva.




Early Bird Gets the Worm


One of the first things to understand about expired listings is the importance of timing.


If you want to be successful in this game, you need to be an early bird.


The competition for expired listings is fierce, and the first agent to make contact often has the best chance.


The Power of Role-Playing


To succeed in this endeavor, you need to be sharp and confident.


Start your day with some role-playing exercises from 7 to 8 in the morning. This will help you be prepared for those initial conversations with sellers who might be a bit grumpy after their listing expires.


Two real estate agents role playing as a buyer and seller at their desk.

Skills, Prospecting, and Lead Follow-Up


According to Robert, there are three key activities you should be doing every single day.


First is working on your skills - this is vital.


Second, prospecting is your bread and butter. Whether you're chasing leads or not, you have to keep the numbers game in mind.


And third, lead follow-up, where 70-90% of your business will come from.


Be the Problem Solver


Remember, you're not just a real estate agent; you're a problem solver.


Negotiating contracts is an essential part of the job, but you can't do that if you don't have any business.


Focus on those three controllable factors: skills, prospecting, and lead follow-up.


Time is of the Essence


Don't be the agent who strolls into the office at 8:30 or 9 a.m. By then, the competition has likely beaten you to the punch.


If you want to go after expired listings, be on the phones by 8 a.m. sharp. Be the early bird, and you'll catch the worm.


Create a Disciplined Schedule


Create a schedule and stick to it. Without a boss breathing down your neck, it's easy to slip into bad habits.


Ask yourself: If you were your own boss, would you hire yourself, fire yourself, or give yourself a raise based on your performance last week?


Digital calendar on a laptop

Focus on Listings


Every agent dreams of getting listings, but are you ready for them? Can you confidently handle conversations with sellers?


Listings are the key to maximizing your earnings, so make sure you're prepared.


The Fear of Rejection


Why do agents often shy away from expired listings and for sale by owner (FSBO) properties?


It's simple – rejection isn't easy. People may cuss you out, hang up, or demand to be taken off your list.


But this is the nature of the business, and if you can't handle rejection, real estate might not be for you.


Calling Expired Listings: More Control, More Profit


The beauty of listings is that you have more control over your time.


You're not constantly at the beck and call of buyers, showing them countless homes and writing numerous offers. As a listing agent, you can structure your day more effectively.


Believe in Yourself


To succeed in the world of expired listings, you need to believe in yourself.


It's not easy, but with the right mindset and preparation, you can turn this challenging niche into a goldmine.


Conclusion


There you have it, insights from a seasoned expert, Robert Villanueva, who knows the ropes of the real estate world.


If you're serious about your real estate career and want to make the big bucks, don't shy away from expired listings. With the right schedule, skills, and mindset, you can make this niche work for you.


So, be the early bird, prepare for rejection, and get ready to take control of your real estate future.


Success is within your reach!


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