Expired Listing Letter
An expired listing letter can be a valuable tool for real estate investors. Expired listings refer to real estate properties which are up for grabs because the contract between seller and realtor has expired. In order to capitalize on expired real estate listings, investors need to have access to Multiple Listing Service (MLS); a realty listing service available to real estate professionals.
It is easy to locate expired listing letter examples online. Type in 'expired listing letter' and you will find a multitude of no-cost and paid sample letters. The key word is 'sample'. There is no one-size-fits-all expired listing letter. Each situation will be unique and the letter should be modified to suit the circumstance
Many real estate investing forums contain conversation threads where investors share and discuss expired listing marketing ideas. Most investors implement multiple marketing strategies including cold calling, postcard marketing, realtor flyers, referral marketing, and direct mail.
Most real estate investors send expired listings letters to sellers. A few solicit real estate agents and attempt to work a deal that benefits all parties involved. This can be a lucrative niche for investors willing to build strong relationships with realtors. They do most of the legwork while investors profit by closing the sale or acquiring real estate for their portfolio.
Real estate investors might benefit from hiring a copywriter or marketing firm. Investors might need a dozen different expired listed prospecting tools. Regardless of the type of marketing the primary goals are to locate motivated sellers; acquire real estate well below market value; or profit by negotiating expired deals with originating realtors.
As with any type of business, real estate investors must stay abreast of changing trends. In today's market, investors need to stand out from the crowd. When realty listings expire and the property is hot, the seller will be bombarded with phone calls and expired listing letters and postcards. This is where being unique can really pay off.
People approach marketing from many angles. Some use the 'in-your-face' sales approach while others use emotional triggers. It is best to go with real estate marketing strategies that suit your personality. You probably shouldn't engage in Zen marketing if you are an assertive and competitive individual.
It is also a good idea to hone your people skills. When working with expired listings, you will oftentimes be dealing with sellers who are disgruntled their home has not yet sold. They do not want to hear empty promises. If you can solve their problem, they will give you their business. Focus on their needs and how you can solve their problems instead of tooting your own horn.
Real estate investing is a challenging business. In order to be successful, investors need patience, commitment, a solid marketing plan, a strong network of realastate experts, ability to find motivated sellers, and ability to close deals.
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