Expired Listings Marketing
Developing a solid expired listings marketing plan can help real estate agents and investors locate new clients who are eager to sell. Expired property listings consist of real estate which has been on the market a minimum of six months to one year, but not yet sold.
One of the most important aspects of expired listings marketing is connecting with the client. By the time homeowner's real estate contracts expire they are usually feeling despaired and distraught. They are upset their home has not sold. They are feeling dejected because the home they love has gone unnoticed or received low offers. Some are on the brink of bankruptcy or stressed out because they could lose their home to foreclosure.
Since emotions are already running high, expired listings marketing strategies must address homeowner's concerns and help raise hope. Sellers are oftentimes disillusioned by the process and aren't ready to endure a repeat session of sitting on their property for months on end. They want and need results.
In order to gain a property listing, realtors and investors must build a rapport with disheartened clients and provide evidence they are the person who can sell houses fast. Expired listings marketing is the tool that listing agents can use to accomplish these goals.
Real estate marketing is multifaceted and requires realtors to place their name and message in front of prospective clients multiple times. The first step involves locating expired listings through MLS databases. The second step involves contacting the seller. This can be accomplished by sending an expired listing letter or by a direct phone call.
The next step involves follow-up and is dependent on the result obtained through the prospecting letter or phone call. For example, the seller might request references or desire additional details about your marketing approach. Others might state they are on the fence because their home didn't sell. Listing agents should be prepared to send the type of information sellers require in order to land the deal.
Expired listings marketing tools can include initial contact letters, a variety of phone scripts, brochures, realtor postcards, flyers, signs and a marketing brochure outlining intended strategies for selling the property. Each marketing piece should convey trust-building messages.
Realtors and real estate investors might need to enlist the help of professional marketing agents to help create expired MLS listings materials. Listing agents should create a variety of expired listings scripts for cold calling prospects. Each script should focus on a specific problem and how your service can solve that problem.
Another option is to purchase expired listings marketing kits that include premade templates with eye-catching designs and call-to-action statements. Listing agents simply need to fill in the blanks and print marketing materials. Expired listings kits eliminate the need to invest in bulk quantities of marketing postcards and letters. Listing agents can easily alter content to address the needs of each prospective client.
One thing is certain. There is plenty of competition in the field of expired listings real estate. In order to gain clients, listing agents must be one step ahead of everyone else in the game. Developing solid expired listings marketing plan can put you ahead of the pack and place money in your pocket as long as you deliver on promises made. Take time to do it right and you will gain plenty of new business.
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