How Many Expired Listing Letters Do I Need To Mail To Get Results?
I tried expired listings before. I sent out about 85 letters and got not one call. I thought my letter was pretty good. What is the general ratio of letters to listings? 100:1 or what? What is a reasonable expectation?
Response: 100:1 is a good ratio to use. However, it's really hard for me to say because it took me approximately approximately 3-4 months before I got my first listing with this system, but then went on to average 2 plus listings a week mailing on average 10 letters a day.
However, others have reported success in less than a week of mailing letters. As are most things related to real estate marketing each market is uniquely different.
While I'm at it let me encourage you to use the FSBO and other letters that come with the Farming Expired Listing System.
The FSBO letter is good for sending to those properties with FSBO signs that may or may not be advertising in newspapers.
There is a vacant property letter that you should use for those properties that have been vacant for a while. You'll know them when you see them - the grass hasn't been cut in a while, old newspapers are in the driveway, etc.
Here's To Your Real Estate Marketing Success!
Additional Response:The key to success in using the Farming Expired Listing System is in developing a process that makes it fast and easy to get the letters out.
1. Take the letters and personalize them with your information. Save them as new files.
2. Mail out a minimum of ten letters a day on the day the listings expire.
3. Also, be on constant lookout for fsbos, vacant properties and other non advertised properties to send letters to. As a general rule owners of those properties do not get a lot of attention from agents, so you'll have less competition for them.
4. Try to use as many of the letters as you can. Vacant land, residential lots, absentee landlord, etc.
5. Print and mail your letters the same time every day. Make it a routine that you do not deviate from.
Once you develop a routine you'll be able to print and mail your letters in approximately 30 minutes to 1 hour a day. That's not much time when you consider you'll be contacting some of the best real estate leads a day.
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