Converting Expired Listings to New Listings is a Big
Deal! Here's why! When you place "For Sale" Signs in front of homes with Name Riders on them magic happens!
And here's the magic! Every passerby, property owner, renter, visitor and investor in the neighborhood where your signs are up will potentially look to you as an agent to do business with, too... and the sales and commissions will start rolling in - and when they do they won't stop until you stop doing what you did to generate the interest in the first place!
Harnessing The Magic of Mailing Letters To Expired Listings.
Using time tested letters is a proven, effective way of generating real estate leads. With them you could soon have lots of of for sale signs up in your community.
Key to your success, though, will be your level of commitment made to mailing letters on the days the listings expire; not one day, two days or even one week later; but on the days they expire.
You also want to mail your letters 5 - 7 days a week, but if you're someone who doesn't like doing business on your sabbath day, whether that's a Saturday or Sunday, that's okay. Mail those letters on Mondays with the regular batch of expired letters you'd mail that day.
There are several reasons for the timing of the mailing of the letters. First, without throwing former agents under the bus, it alerts the owners that their properties have expired in the event they are unaware of it... and that happens a lot.
Many agents let their listings expire without having had conversation with the owners about it. Sometimes it's because they've done a poor job keeping the owners informed of their efforts to sell their properties and because of their embarrassment they quietly let the listing expire.
Embarrassingly, I admit to having been guilty of it a time or two myself, but recognized it for the totally unflattering and even cowardly behavior it was! I redeemed myself though by creating a Marketing Update Report that I sent to the owners.
I sent it weekly because it forced me to do something every week to market their properties. Consequently, I had something positive to share with them often... even when it wasn't to tell them that an offer had been made on their property... and I did it via phone or letter correspondence.
The Marketing Update Report - which was set up like a checklist where I checked the things that I'd one - included things like advertised the property; held an open house; hosted a Realtor tour; did an office caravan where my company associates were given a tour of their home; made and circulated/mailed/distributed letters, flyers and/or postcards to neighboring homes; solicited the help of top producing gents, etc.
The short of it is this. Agents market their listings in lots of different ways, but even the best of them come up short sometimes in communicating to owners all they've done and/or are doing to sell their properties. Who thinks to communicate all of the daily things one does to market a home? And the bigger downside of it is who remembers all that was done at the end of a month?
That's the value of a form like the Marketing Update Report that is a part of my Expired Listing Letters System! When all else fails you keep them on your desk, laptop or whatever; and make notes about your marketing efforts in real time and then send it to your clients at the end of the week. Your clients will be ecstatic!
Informed clients are happy clients and when it comes time to relist an expired listing with you they'll be informed in advance and in a positive frame of mind about relisting with you because they'll have a physical record of how much effort you put into selling their homes. Are you using anything like this right now?
So, like I was saying... there's a good chance that an expired listing letter from you could be the first time that an expired listing property owner heard has heard that their listings have expired. Understandably, some are surprised; mildly to irritably so. But either way it's good for you, because you'll be Johnny on the spot with information they should know.
Key Point: Be consistent and systematic in your approach, Daily application works best - inconsistent application compromises your results!
Most agents intuitively know an Expired Listing System
can help them succeed, yet many of them fail to acquire one and some that do are inconsistent in their application of it.
On the other hand , agents who "get it" and understand the profitability of them prosper. Those who don't sometimes find themselves retiring their licenses due to lack of business. Bluntly, they fail to generate enough commissions to sustain their careers.
Are you a passive person? No problem! Mailing letters is a great way to compete with agents who are outgoing and more aggressive by nature... and the more consistent you are in mailing them the more competitive you will be.
Farming Expired Listings
Knowing what to do and actually doing it well are two different things. Many agents have poor follow-through, use ineffective letters, and/or are easily distracted and move onto the next popular marketing idea before fully giving themselves fuller opportunity to succeed with ones they've already implemented.
Consequently, Farming Expired Listings is a unique opportunity to up your game by increasing your success and elevating your visibility in your community. But let’s be clear.. although farming expireds is an easy process, consistency in going after and getting them is required for best results and maximum satisfaction.
Warning! If you don't want to commit yourself to a 5-6 days a week daily routine of reviewing and mailing expired listing letters I respectfully submit that farming expired listings is not for you. It's all but guaranteed that you’ll be disappointed with the results and it’ll be a monumental waste of your time!
Expired Listing Script
Our Expired Listing Letters Set includes a listing script that tells you what to say, when to say it and how to say it. Additionally, it tells you when to shut up and let the owners talk, which often times lead to you being able to make an appointment to take a listing versus making a listing presentation.
It's important to reflect on this for a moment, because there's a significant difference between the two things; making an appointment to take a listing versus making an appointment to give a listing presentation. Our script will get you the former while others will get you the latter. Which would you rather have?
Old Expired Listing Prospects. When you first get started I highly recommend spending time researching aged Expired Listings, because once they've been off the market for a while they kind of dropped off the radar for many agents who farm expireds.
Now, let's think about that for a moment, too! These old expired listings represent a veritable treasure trove of leads ready to do business with an agent who think enough of them to seek them out.
Ready to Farm Expired Listings for Big Commissions? Congratulations, that’s a wonderful thing, because no matter how successful you are you can always use more leads, listings and sales…right? And the process is so simple you’re almost assured success.
There's no easier way to get started marketing Expired Listings than with these letters. They're ready for immediate download and use and can be used exactly as they are when you receive them. Plus, they come with a money back satisfaction guarantee - so you have absolutely nothing to lose... but a whole lot to gain! Click here for more information about them!
Acquiring Expired Listings
Are looking for a way to be ultra-successful, but still have a life outside of work? If so, generating leads with an expired listing system might be the perfect marketing strategy for you. Once you define what you want and set goals it’ll be easier to make it happen. If you’re serious about getting a leg up on your competition and leaving them behind getting expired listings is a way to go. Read more
There’s hardly a day that goes by in any given community where listings don’t expire. In fact, they’re so plentiful you can cherry pick the good ones and leave the undesirable ones (overpriced, unreasonable seller expectations, etc.) to others. Perfect for New Real Estate Agent Marketing, it’s also an effective strategy for Veteran Agents to increase their Real Estate Marketing Success! Read more
Expired Listing Letter
Expired Listing Success comes to those who put forth the time, effort and investment required to become successful real estate marketers. And it’s made easier with a foundation that is comprised of a proven Expired Listing Letter System, an effective Expired Listing Script and collateral documents and forms that convert sellers to clients when they call you wanting to do business! Lear more about it
That's it for right now! Here's To Your Real Estate Marketing Success!
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