Expired listings are a great source of real estate lead generation. These leads are typically frustrated homeowners who tried to sell their homes and came up short. These people need an experienced real estate agent to sell their homes. If you can help them, you will gain a loyal repeat client who will refer your business to their friends.
Expired listings are properties that have reached the end of their time frame to sell. They will be removed from the MLS (multiple listing service) and online listings. This can be frustrating for homeowners, as they have been through open houses and stagings to sell their property.
However, an expired home is still a lead opportunity for you to take advantage of. You have the potential to turn these homeowners into clients, and you will be able to market your services to them in a way that will be more effective than other agents in the area. You can search for expired listings using public records, the MLS real estate listings, or by signing up with real estate prospecting services. These services will search the MLS for expired listings and provide you with verified contact information. These services are not free but can save you time searching for leads.
Another strategy that you can use to find expired listings is to look for them on social media. Social media is a great way to build connections with people who have recently listed their homes, and you can also cross-reference them with public records. The most important thing to keep in mind when contacting these homeowners is that you need to approach them strategically. Your marketing should show them why you are their best agent and how you can fix any problems that have kept their listing from selling. This will show them you are a competent, honest, and committed agent who can help them sell their home again.
When you have many expired listings in your portfolio, it can take time to find time to look through them all. But you’ll have much less to worry about if you can streamline your expired listings search using technology.
One way to accomplish this is by sending postcards. Postcards have a high response rate and can be a great way to reach your prospects.
Another effective strategy for utilizing expired listing postcards is targeting homeowners with an upcoming expiration date. This will help you stand out and increase your chances of getting the listing.
This is also a great way to create a relationship with these homeowners. Sending them postcards several times can allow you to develop a genuine bond with them and build trust. If you want to make your expired listing postcards more impactful, add your headshot and logo. This will show the homeowner that you are a real estate agent who can help them sell their home and that you are serious about your business. You can also add a free market report or other information about your company. This will let them know you are a professional and knowledgeable real estate agent with a proven track record.
If you’re a real estate agent with a strong marketing plan, you can use technology to streamline your expired listings search. Using technology to find expired listings and turn them into seller leads can be a great way to gain new clients, expand your market, and grow your business. The best-expired listing letters are concise, informative, and empathetic. They also contain a clear sales path that offers fresh marketing ideas for sellers. A great letter should begin with a short introduction that explains why you are writing to them. Then, it would be best to share some reasons why the property did not sell and how you would approach relisting it with a different action plan. After introducing yourself and explaining why you’re interested in working with them, offer to meet with them to discuss their marketing options further. This will allow you to share your marketing strategies with them and give the homeowner a sense of trust in you and your services.
When you have a list of expired listings that you want to reach out to, you can use phone calls to reach out directly to the owners. This can be a time-consuming process, but it can also be very lucrative.
If you’re going to call the owner of an expired listing, you must approach them with respect and a genuine interest in their real estate situation. This will help you build rapport and trust with the owner, which can lead to more business down the road. The best way to start the conversation is to ask whether they’re still interested in selling. This will quickly tell you if they are still in the market for their property, which can help you better connect with them and convert them into a client. You can then use a script to help you cover all the essentials, like how to warm up the seller, handle objections, and close the deal. Remember to rehearse the script ahead of time so that you can confidently make your cold call with no mistakes. Once you’ve mastered your expired scripts, it’s time to get out and make some calls.