Effectively prospecting expired real estate listings is a key skill for any agent. Whether you use phone calls, emails, or letters, the best way to convert them into listing clients is through targeted marketing and timely follow-up.
One way to identify expired listing opportunities is to purchase leads from a reputable data source. It saves time from manually searching MLS listing for the same information.
Contact the Owner Directly
Real estate expired listings are a valuable resource for real estate professionals. They can yield higher conversion rates from lead to a client than other real estate listings. Real estate brokers must master the art of efficiently approaching them to take advantage of this opportunity.
Expired listing prospecting is an effective strategy that requires many components. First, it is necessary to identify potential prospects. It can be done through various methods, including paying for leads from online websites that provide this information. Alternatively, real estate agents can use the app, which allows them to search a database of homeowners and contact them directly.
Once the prospect has been identified, developing a marketing presentation that will convince them to list with you is important. It should include a brief introduction that explains why they are a good fit for your business and a clear outline of how you can help them sell their property.
Finally, it is important to be persistent in contacting the property owner. Several other real estate agents have likely contacted expired listing owners, so it is critical to follow up consistently and offer additional value.
Create a Marketing Presentation
Expired listing owners are typically frustrated and skeptical. You’ll have much work to persuade them to give you another chance to sell their home. You’ll want to be prepared with a professional marketing presentation that proves your value and entices them to list again.
A well-crafted marketing presentation outlines the benefits of your services and includes data on hard-to-sell homes you’ve successfully sold. This information helps to demonstrate your knowledge of the market and demonstrates that you understand what went wrong with the previous agent’s listing strategy.
The presentation should also include your career bio and notable real estate stats. It will help to establish you as a knowledgeable neighborhood expert and a top-performing realtor.
In addition, it’s important to include client testimonials in the presentation. It shows potential clients that you’ve worked with similar sellers and can provide them with a preview of what it’s like to work with you.
A great way to quickly and easily generate qualified leads for expired listings is with an automated dialer. A power dialer synchronizing with your CRM lets you easily reach out to each lead, record notes, set reminders, and perform callbacks. It is a critical step for effective marketing because it ensures you follow up with each prospect.
Develop a Letter
Real estate agents who are persistent with expired listings and use effective marketing strategies to convert them into clients are likelier to succeed in their business. The market for expired listings can be competitive, but it is also a great way to build your reputation as a real estate expert. To get started, develop a script that will help you connect with expired listing leads effectively.
This script should be personal and friendly but also professional. It should explain why you contacted the seller and how you can help them sell their property. You should also offer to share your marketing strategies with the seller if they agree to meet with you.
In addition to a call or email, consider sending a letter to each expired listing lead via mail. It can help you stand out from the competition and makes it more likely that the lead will remember your contact information. Real Estate CRM software can make it easier to follow up with leads and schedule emails, letters, and other communication methods.
It would be best to be prepared to encounter objections when calling or emailing an expired listing. Owners of expired real estate listings are often frustrated and skeptical about working with a new agent. They may feel burned by previous representation or believe their property is unsellable. It would be best if you prepared to overcome these objections by practicing with a colleague or using a sample script.
Advertise Online
Many real estate agents find expired listings are a great source of leads. These listings are typically highly motivated sellers looking for a new agent to sell their property. This type of marketing is less expensive than other types of lead generation, such as real estate buyer leads. In addition, it can produce outstanding results if done correctly.
The first step in identifying expired listings is to use an online search engine. You can also look at public records to identify upcoming listings. Once you have identified a listing, you can contact the owner by phone or email. Try to find a way to connect with the owner on a personal level and explain why you believe you are a better choice for selling their home than the previous agent.
Another great way to revive a real estate expired listing is to advertise it online. It can be done through various platforms, such as social media and real estate websites. However, be careful only to market the property to local buyers. It will ensure that you get the best possible return on your investment and avoid any issues with non-local buyers. Using an online platform can also save you time and money as it can automate much of your work.
