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Expired Listings

These two words can provoke a couple different reactions depending on who you’re asking.  What is an expired listing?  Simply, its a listing that was once on the market which failed to sell, and the duration of the contract between the Seller and Agent has expired and their agency is now null and void.  

The most frustrated party from this ordeal will obviously be the Seller.  The Seller had initially trusted the Agent to do what’s necessary to get their home sold so that they can either upsize, downsize or just move to a completely different destination for their various reasons.  Perfect strangers have come and gone, they’ve kept the home clean for months, open houses might have been held and at the end of the day there was no results.  A complete waste of time!  The other party who oft wouldn’t be a happy camper is the Agent who had listed it, might have spent time and money to promote it and couldn’t get the job done.  

For what reason will a home not sell?  1. Price - the home is priced too high for what the neighborhood and comparable justify for it.  2. The Marketing - The home was not exposed at the highest level possible, pictures were not up to par, the Agent was not proactively marketing it, etc 3. The Condition - The home was a mess, it wasn’t staged right, too much personal belongings scattered everywhere, no curb appeal, horrible maintenance of landscaping etc.

So who actually gets excited by the words “expired listing?”  There are strong aggressive Agents, yours truly included, that thrive on picking up expired listings and we make it a point to solicit frustrated Sellers religiously.  We believe in our core that the Sellers deserve results and we are the heroes that can make this happen for them.  For these Agents, expired listings are low hanging fruit because the Seller has already in essence raised their hands and said, “over here, I want to sell.”  The challenge is that after 6 months of languishing on the market and getting a stigma of an expired listing, these Seller are not happy at all.  So that call that we have to make is met with great resistance and frustration.  Furthermore, they are now being bombarded with calls from other Agents.  The skill set needed to penetrate through amongst dozens of other callers is a skill that has to be constantly sharpened and refined and one which takes months if not years of practice.  Once you have honed this skill, the Seller can immediately distinguish the amateur caller vs. the expert.  They just sound different, they come from a genuine place, they have the gift of gab, they know exactly what the Seller is thinking, they ask the right questions and they uncover the motivation. Once the initial barrier is broken down, then a meeting is set and the well trained Agent provides the Seller a legitimate plan of action and marketing plan, a very proactive approach on procuring a Buyer and ultimately gets the home sold!  It’s a science and an art, its a sport, the hunt the kill. Exihilarating.  When you specialize in getting homes that didn’t sell the first time, and bring in your expertise to get results, you know that you are in another league of salespeople.  Anyone can get a referral, a neighbor to give you a come list me call or spend endless amounts of advertising money to buy business, but when you can pick up the phone and make a call to grab business, now that’s something to get excited about!

[properpros]

Expired Listings

These two words can provoke a couple different reactions depending on who you’re asking.  What is an expired listing?  Simply, its a listing that was once on the market which failed to sell, and the duration of the contract between the Seller and Agent has expired and their agency is now null and void.  

The most frustrated party from this ordeal will obviously be the Seller.  The Seller had initially trusted the Agent to do what’s necessary to get their home sold so that they can either upsize, downsize or just move to a completely different destination for their various reasons.  Perfect strangers have come and gone, they’ve kept the home clean for months, open houses might have been held and at the end of the day there was no results.  A complete waste of time!  The other party who oft wouldn’t be a happy camper is the Agent who had listed it, might have spent time and money to promote it and couldn't get the job done.  

For what reason will a home not sell?  1. Price - the home is priced too high for what the neighborhood and comparable justify for it.  2. The Marketing - The home was not exposed at the highest level possible, pictures were not up to par, the Agent was not proactively marketing it, etc 3. The Condition - The home was a mess, it wasn’t staged right, too much personal belongings scattered everywhere, no curb appeal, horrible maintenance of landscaping etc.

So who actually gets excited by the words “expired listing?”  There are strong aggressive Agents, yours truly included, that thrive on picking up expired listings and we make it a point to solicit frustrated Sellers religiously.  We believe in our core that the Sellers deserve results and we are the heroes that can make this happen for them.  For these Agents, expired listings are low hanging fruit because the Seller has already in essence raised their hands and said, “over here, I want to sell.”  The challenge is that after 6 months of languishing on the market and getting a stigma of an expired listing, these Seller are not happy at all.  So that call that we have to make is met with great resistance and frustration.  Furthermore, they are now being bombarded with calls from other Agents.  The skill set needed to penetrate through amongst dozens of other callers is a skill that has to be constantly sharpened and refined and one which takes months if not years of practice.  Once you have honed this skill, the Seller can immediately distinguish the amateur caller vs. the expert.  They just sound different, they come from a genuine place, they have the gift of gab, they know exactly what the Seller is thinking, they ask the right questions and they uncover the motivation. Once the initial barrier is broken down, then a meeting is set and the well trained Agent provides the Seller a legitimate plan of action and marketing plan, a very proactive approach on procuring a Buyer and ultimately gets the home sold!  It’s a science and an art, its a sport, the hunt the kill. Exihilarating.  When you specialize in getting homes that didn't sell the first time, and bring in your expertise to get results, you know that you are in another league of salespeople.  Anyone can get a referral, a neighbor to give you a come list me call or spend endless amounts of advertising money to buy business, but when you can pick up the phone and make a call to grab business, now that’s something to get excited about!

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Blogging Come Back

In the new year, we plan to use this platform to blog more often.  You can expect useful information about the local LA real estate market, specifics on current deals and the ongoings of our daily activity.  We will also curate real estate related articles and info that can benefit our clients and friends.  Looking forward to connecting with you guys !

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We have buyers looking for condominimum units in Los Angeles (Koreatown, Mid-Wilshire, Downtown, Miracle Mile and surrounding areas) Please let us know if you have anyone in the market to sell theirs!

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For all the bball lovers

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If steve can do it, anyone can.

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Motivational MONDAYS!

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Happy Friday Everyone

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HAPPY FRIDAY EVERYONE!

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Happy Friday everyone

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Two of the greatest. Period.

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Rent vs BUY