Prospecting Expired Listings
If you are a REALTOR, a great supply of revenue are expired MLS listings. Prospecting these expired listings are generally as innocent as sending the possessor of the home an expired listing letter, or as blatant as a door knock and face to face meeting. Regardless of how you prospect your customer, understanding their frame of reference are usually paramount to your success.
As you evaluate the mindset of the potential customer, it is important to recognize that they are a motivated seller that has for one reason or another not been able to complete the goal of selling their property by means of their existing listing agent. These prospects have heard the traditional REALTOR presentation and are open to anything that appears unique, different, or more useful than what their current real estate agent offers.
For these prospects, expired listing script may not be very effective. Even though these script are low cost and might be sent out in mass, they often are received much later than the prospect’s window of opportunity. It is not uncommon for an expired listing to receive five or more phone calls from aggressive real estate agents on the day that their listing expires. Because of this, the prospect may possibly receive the expired listing letter well after they have already signed with a additional real estate agent.
For REALTORS that use expired listings as a supply of business a extra effective methodology might be to employ listing lead services such as the RedX (Real Estate Data Exchange) or LeadSenders to access the leads in real time. The successful real estate agent utilizes these tools to identify leads, then reaches out on a daily basis by phone and occasionally in person. By way of these services, the real-estate professional utilizes a first mover advantage to capture the listing ahead of the competition. Often, this minor advantage is all that the agent needs to get the business.
Statistically speaking, an expired listing lead will re-list their home with the first agent that makes contact. Once again, this suggests that expired listing letters may possibly not be the most helpful method in which to prospect mls listing leads. Genuinely, the adage that the early bird gets the worm applies to these scenarios, and the thriving REALTOR have to alter their lead generation approach accordingly.
Brokers and real estate agents, get expired MLS listing letters and prospecting tools to help grow your listings and close more sales. Visit www.TheRedx.net to learn the secrets of rapid real estate growth
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