Saturday, March 14, 2009

Learn & Earn from Lost Listings

Learn & Earn from Lost Listings

If you do this you can make much more money over the long haul then you think. For 13 years in the business I have not found anyone that does this consistently or correctly.

OK here we go. In a given year you will not sign up every listing that you do a cma for, but there is still a huge potential for 2 things to happen. First, you can learn from your appointment, better yourself, and sign up the next listing appointment you attend because of what you learned. Second, you can make an impression on the sellers so that if they do not sell through the Realtor they chose you will certainly sign it up when it expires. If you do enough prospecting, like 80% of every day as you are supposed to, you will go on many listings appointments in your career. If you are a top agent you will sign up 80% to 90% of them, that's if you are a top agent. Statistically most agents are not TOP agents. So this means in a given year there are a number of listings you do not sign up, and some of them will not sell with the Realtor you lost out to. This number gets very large when added up over an entire career. How can you make sure to sign them up after they do not sell the first time around?

Here is all you have to do. You need to learn, and improve from every appointment...but how? The first way is by calling the seller and asking what made the difference, is there anything you could have done differently, what do you need to improve on, wish them luck with the sale, and extend an invitation to them to call you if they have any questions along the way. This needs to be done in a very polite, humble way, because you are trying to better yourself in your career and learn from every experience and you need their help to do that. Next, you follow up your call with a hand written thank you note and two business cards inside. You will write inside what you said over the phone, you wish them the best, and let them know they can call you at anytime for anything. Simple right, here's why it works.

First of all, not many agents will make this type of follow-up phone call for the purpose of learning and improving. If an agent did make a follow-up phone call it would be a bitter call that probably would not be handled in the right way and might go south because of emotion. Second, if you are polite and humble enough you will make an impression on the seller that is positive, and who do you think they are going to think of if they are not happy or they expire? Finally, if you can show their home or get a listing in their area during the time their home is on the market, you have the opportunity for another contact with a just listed post card and a showing appointment. Then, when your listing sells before their home sells you will have yet another contact with a just sold card. If you follow these steps you can sign up many homes on the rebound and continue to service your area and become the local leader in your market. For more information on this system please feel free to e-mail me at c21jrs72@aol.comor visit my company website and read one of the many guides we have posted for sellers and buyers, just visit

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