Using Expired Real Estate Listings to Get in Touch With Sellers
A real estate listing that has expired is a good thing for a realtor because the seller is no longer interested in selling the property. This will benefit the seller because they can sell the house at a lower price than they would otherwise be able to. In addition, it will also make a lot of money for the agent since they do not have to pay the full price for the house.
Get in Touch with Sellers
Using expired real estate listings to get in touch with sellers is a great way to increase your listing pipeline. However, contacting expired listings can be difficult for new agents or agents who have taken a break from the industry.
A real estate prospecting service is the best way to contact expired listings. These services are available for a fee and will use the MLS database to search for expired listings. Once a listing has been found, you can contact the owner.
When contacting an expired listing, you must follow up with the owner. There are several ways to do this, including letters, emails, and telephone calls. Each method can be effective, but it’s important to understand how to make your approach sound genuine.
Having a well-designed script can be a big help when contacting expired MLS listings. It should include a brief introduction, a presentation of your marketing strategy, and recommendations for renewing the property. It should also be long enough to cover all the important points.
Another effective way to reach out to expired listing leads is by snail mail. Some agents will send a letter to the seller, and others will make a door knock. It would help if you tried to come across as a genuine and professional agent, and you should not copy any other agent’s letter.
Finally, keeping in touch with other local real estate agents is important. Some may have expired listings, and they might be willing to exchange the expired listings for a valuable listing. You should also look at flyers in local businesses. This is a low-cost way to bring in sellers who have yet to reach out to other agents.
Make the Listing Stop
Expired real estate listings are a great source of leads. Many agents call these potential clients to encourage them to renew their listings. Nevertheless, it can be challenging to reach out to these property owners.
One of the best ways to get in touch with expired property owners is by sending a letter. Using professional letterhead and personalizing the letter will help to establish a personal relationship with these homeowners. You can also include an invitation to set up a meeting or an appointment.
You can text the property owner if you want to avoid making a call. However, this should only be used after initial contact with the property owner. Otherwise, it could be considered a legal invasion of privacy. Similarly, if a recipient reports your text message as spam, your phone number may be added to online complaint directories.
Alternatively, you can use a direct mailer. These can be automatically sent by LionDesk, a marketing software package that helps real estate agents generate leads. These emails can contain useful tips, neighborhood reports, and “just sold” property announcements.
Finally, you can use a drip campaign. These emails can include helpful tips, seasonal greetings, and neighborhood reports. You can even add information about other properties that have recently sold.
Reach Out to Other Agents
Expired listings are not uncommon in challenging markets. Homes in these areas typically sell quickly, and buyers often have to compete for them. Cold calling expired sellers can help you connect with potential buyers, but it can take some work.
Some agents contact these listings by mail, while others send letters. Whether you choose to do this or not, be sure to keep track of the expiration date for your license. You should also set up reminders on your computer and your calendar to ensure you remember.
Expired listings can be a great opportunity to make multiple sales, but you’ll need to get out of your comfort zone and learn some scripts for these calls. Usually, you’ll need to sign a listing agreement, and many expired listings require some price adjustment. These sellers might need to move, or they might need some marketing.
An experienced real estate agent knows that well-practiced objection handlers can be very effective. They can help you overcome objections and lead to a sale. You can also use a script to follow when dealing with objections. If you need help with what to say, The Close, a company specializing in expired listings, has some great scripts.
It’s important to know how to deal with objections, so ensure you have the right scripts in your arsenal. You want to avoid ending up in a situation where you cannot sell a home because the owner won’t sign. The best way to deal with objections is to be confident and knowledgeable.