A Secret Weapon To Farm For Expired Listings

By Michael Krisa, Executive Editor - Posted on
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One quick way to get extra business right now is to target Expired Listings. Keep in mind, these are people who want help from an agent but for some reason haven’t been able to sell their home. You’ll have to speak to their frustrations and position yourself as an agent who can help them in their situation. You can find expired listings on your MLS and mail them a simple letter like this example:

Tips For Using This Expired Letter To Bring You Business:

  • Important note about modifying this letter: This letter has one and only one purpose which is to get prospects to CALL YOU! Notice how everything is “Packaged” specifically for the expired prospect? It uses excellent elements to handle objections, gives lots of Unique Selling Propositions (what you’ll DO for them), and teases for response.  You can modify this letter to fit your practice, but be careful about changing too much as it may reduce the effectiveness.  And don’t forget to PERSONALIZE the letter with the homeowners first name if you can get that data from your MLS.
  • This letter offers a service called the “Maximum Home Value Audit.” You can do an in-person review of the major areas of their home in addition to a CMA to differentiate yourself from what most agents would offer Expireds.  Because you’re one of our valued Agent Inner Circle® members… here’s a ready-to-use template you can use for this!
  • You can enclose a packet of aspirin or antacid or string (to remind them to call you) with this type of letter. It helps to make a greater impact on the reader because it advances your message. Plus, you know they’ll remember you!
  • Using a multi-step approach with this letter will maximize your response. Mail a SECOND NOTICE (sent 3 to 7 days after the first letter) and a FINAL NOTICE (sent 7 days after the second letter).  See this real estate marketing article to learn about about multi-sequence mailings.  Some agents even send letters like this via FEDEX because it looks official and will get opened.  You’ll have to test and see if the numbers make sense based on how many expired listings leads you turn into clients and your average commission.
  • Follow-up with a phone call. Most agents will do one or the other (only send a piece in the mail or only try to cold call).  If you call 3 days after you mail the letter, it is a warm call because you can ask if they got the package you sent to start the conversation.

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Michael Krisa
Michael is a licensed real estate broker, a syndicated columnist and a freelance internet marketing consultant. As a sought after speaker and trainer, he is best known for helping to utilize video and video marketing in a way that actually works to make you money! As Executive Editor, Michael is very excited to bring his years of experience in real estate marketing to the team.
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