Expired Listing Letter
An expired listing letter is one of many marketing tools used by real estate investors to locate deals on homes for sale. Expired listings refer to real estate sales contracts which expired without resulting in sale of the home. When realtors are unable to complete the sale during the term of the realty contract, sellers can enter into a new contract with their current realtor, locate a new realtor, place the property on the market as for sale by owner, or remove the listing.
Realtors and investors solicit business with the expired listing letter. When properties show up as expired on the Multiple Listing Service (MLS), real estate professionals can access sellers' contact and property information. MLS provides nationwide property listings to real estate agents, mortgage and insurance companies, and other realty related entities.
The majority of real estate investors contact property owners once listings expire. A lesser known way to solicit business is by contacting the originating realtor. Oftentimes, investors can salvage the deal and create a win-win for all parties involved. Working with realistate agents can be a profitable venture for investors desiring to create long term business relationships.
Investors who are new to real estate marketing can find sample expired listing letters online. It is important to modify marketing letters to suit the circumstances of the real estate transaction. One good source for locating expired listing marketing ideas is real estate investing forums.
Newbie real estate investors often neglect developing a marketing plan or skimp in allocating a decent marketing budget. In order to find motivated buyers and develop a strong team of realty professionals, it is important to be aggressive with marketing efforts.
With today's technology, multiple realestate marketing tools are easily accessible. Many investors are utilizing websites and blogs to attract clients. Nearly everyone is using some sort of social marketing such as Facebook, MySpace or Twitter. Email marketing is an affordable way to build relationships and establish trust.
Other marketing ideas for real estate investors can include direct mail, postcard marketing, realtor flyers, mortgage broker marketing, cold calling, and referral marketing.
Few investors can embark on a strong and consistent marketing plan without help from others. Investors who are starting out can hire a part-time marketing agent. Inquire with high schools and college campuses to determine if they engage in apprentice programs. Obtain competitive bids through various freelance websites such as Guru.com and iFreelance.com.
It can be beneficial to hire a professional copywriter who is familiar with online and print marketing. Online marketing is completely different than print marketing. Experienced copywriters can seamlessly transition the two and create a brand image for investors.
Real estate investing is a competitive business. In order to achieve success, investors must stay abreast of market trends and create memorable marketing campaigns. The first rule of marketing is addressing clients' needs, than explaining how your company can solve their problem.
Feel free to browse our real estate investing article library to learn more about expired listing marketing, personal investing, building a real estate investment business and much more.
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Published on January 15, 2010 at 01:38 AM | Comments: 1
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