Episode: Dusting Off Your Toolkit - The Expired Listing Goldmine

Hosts: Michael Fanning & Stevi Fanning

Michael Fanning has served as a Senior Vice President for Windermere real estate company since 1997, bringing nearly three decades of leadership expertise to Windermere coaching.

Stevi Fanning has over 15 years in real estate as a coach and agent, specializing in data-driven market analysis and systematic lead generation.

Michael and Stevi reveal why expired listings a forgotten prospecting goldmine present massive opportunity in today's shifted market. They provide a complete system for converting expired listings while most agents ignore this revenue source.

• 47% of expired sellers re-list within 90 days
• 68% choose a different agent when re-listing
• Days on market has nearly doubled since 2022
• Gap between professional and amateur marketing has never been wider

1. Pricing Fantasy - Unrealistic 2021-2022 expectations
2. Marketing Mediocrity - Poor photos, weak digital presence
3. Unrealistic Expectations - Sellers not educated on current market
4. Insufficient Investment - Underfunded marketing campaigns

Wait 24-48 hours, then call with this script:

"Hi, Mr. Johnson. This is [Your Name] with Windermere. I noticed your home on Maple Street came off the market. I'm not calling to ask for the listing I'm sure you've gotten plenty of those calls. I've been analyzing your listing and identified a couple of factors that likely prevented it from selling. Two are completely fixable and one requires a strategic decision. I think you'd find the analysis valuable regardless of what you decide. Would you be open to a conversation?"

Goal: Get a face-to-face meeting, not the listing on the first call.

1. Market Analysis & Diagnosis - Show exactly why it didn't sell with specific data
2. Current Market Reality - Reset expectations with actual statistics
3. What Success Looks Like Now - Provide case studies and social proof
4. Investment Required - Position $2,000+ marketing as ROI, not expense

• Set up automatic MLS expired listing alerts
• Work 5 expired listings per week (1 per day)
• Categorize: A's (strong), B's (possible), C's (long shots)
• Work A's first exclusively
• Use Close CRM for systematic follow-up

• Ready Now - List within 2 weeks
• Needs Time - Monthly updates and market data
• Long Shots - Quarterly valuable information

Critical: 40% of conversions happen after initial meeting, sometimes months later.

• 5 expired listings/week = 2-3 conversions/month
• 24-36 additional listings per year
• $192,000+ additional annual income at $8,000 average commission
• 60% meeting rate with this approach vs. 10% with generic pitches

1. Set up MLS search for expired listings in your target area today
2. Identify 5 expired listings this week and research thoroughly
3. Create A/B/C categories in Close CRM with reminders
4. Prepare $2,000+ marketing budgets for professional campaigns
5. Commit to daily discipline first hour each morning

• Close CRM - Tracking and follow-up system
• MLS Tools - Market analysis and automated searches
• Windermere Marketing Suite - Present, trend graphics, analysis tools
• Path Calls - Weekly coaching Thursdays 10 AM PST

Michael Fanning & Stevi Fanning

• Windermere Real Estate Coaches
• One-on-one coaching consultations available
• Weekly Path Calls every Thursday at 10 AM PST
• Contact through Windermere coaching program

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