Expired listings are a lucrative source of client leads for real estate agents. However, contacting and nurturing these homeowners is time-consuming and requires a strong marketing strategy and consistent outreach methods.
A drip email campaign can be a powerful tool for reaching expired MLS listing leads. This marketing campaign sends emails regularly and includes value-added content like market reports, helpful home-selling tips, and testimonials from past clients.
Look For Properties In Emerging Or Undervalued Neighborhoods.
Expired real estate listings can be a valuable source of leads. As a real estate agent, you might be excellent at prequalifying leads and conducting listing presentations, but your success is limited without a steady stream of new listings. Grizzled real estate veterans often say, “Listings are everything.”
While it can be difficult to find expired real estate listings, agents with a strong marketing strategy and a well-organized customer relationship manager (CRM) can succeed with this type of prospecting. A quality CRM and effective phone, email, and mail outreach can help you connect with and convert expired listing leads into clients.
A drip marketing campaign is one way to contact expired listing leads. This is a series of automated emails that are sent to your contacts at regular intervals. It’s important to remember that these emails should offer value rather than simply being a sales pitch. Examples of effective drip campaigns include market reports, seasonal greetings, and case studies of previously sold properties.
Another effective method is to use a tool to create and send high-quality mailers to expired listing leads. These mailers can be customized to highlight why their listings failed and showcase your marketing expertise. This approach can set you apart from other real estate agents since homeowners are often frustrated and burnt out after a failed sale.
Look For Properties With Potential.
Expired listing leads are often overlooked, but they can be an excellent source of new seller clients. These homeowners are already motivated sellers and can be easier to convert than buyers. Plus, marketing to expired listings can be much cheaper than generating buyer leads. There are many ways to find expired listings, but the best way is to use a real estate prospecting service. These services search the MLS for expired listings and provide reliable contact information. They also offer automated calling and CRM software that makes it easy to follow up with contacts.
Another great way to find expired listings is by analyzing local market trends. Look for markets experiencing rising home values, low unemployment rates, and healthy yields. This will help you identify the types of properties that are most likely to sell quickly. Once you’ve found the right type of property to target, it’s time to start generating leads. The key is to be consistent and strategic in your approach. Expired listing leads require more nurturing than real estate leads, but the reward is worth it. If you’re ready to start, check out this post for an in-depth guide on approaching and converting expired listing leads. It includes step-by-step instructions for creating an effective strategy, building rapport, and converting them into listing clients.
Look For Properties In Need Of Cosmetic Updates Or Minor Renovations.
Real estate professionals know that a strong marketing strategy can help us connect with homeowners and nurture them into listing clients. This is especially true during a seller’s market when homes sell quickly and with bidding wars. However, a successful marketing strategy takes time to develop and implement. This is where expired listings can provide a real opportunity for agents. When a listing expires, the seller often looks for a new agent to represent them. They may be burned out by their previous experience and open to considering a fresh start. This can be a great opportunity for an agent to set themselves apart from their competition by providing them with a presentation of an effective marketing strategy.
Look For Properties With Unique Or Standout Features.
Most real estate agents consider expired listings their most profitable lead-generation source. They provide a steady stream of booming business year-round. This is mainly because homeowners who list their property again after it has expired are highly motivated to sell. They have been unable to do so because the listing was improperly priced or their previous agent did a poor job marketing the property.
To win a seller’s trust, you must find out why their listing failed to sell the first time and offer them a solution. For example, by running a market analysis, you may uncover that their asking price needs to be lowered compared to comparable properties in the area. By demonstrating that you can offer them the best value for their property, you can build rapport with them and help them decide to choose you as their new agent.
Expired listing leads often require more nurturing than other real estate leads, as they are typically disillusioned and frustrated with their unsuccessful sale experience. However, if you are patient and strategic, you can turn these homeowners’ frowns upside down. To get started, consider using a prospecting tool to automate your search for expired listings. Then, follow up with a personalized letter or email on quality paper and set an appointment to present your sales strategy.
