When approached with the proper system expireds can be an extremely lucrative niche demographic for your real estate practice. Follow the strategies in this video and article and you’ll be well ahead of the pack and on your way to an easy new source of real estate listings.
It starts with establishing yourself as an expert in Expireds
My coaching clients use all of their available media… Adding the line “Helping Expired Listings Sell Their Homes” to their postcards, letters, voice mail messages, emails, blogs, website, social media, and any place else they may have a presence.
Your expired listing marketing channel could be at www.yourwebsite.com/expired. Here the expired would find plenty of helpful resources and be encouraged to call or complete a questionnaire to perhaps receive a free, 48-hour value analysis or an opportunity to sign up for a pre-listing consultation.
Here are a few ideas for your marketing to encourage and stimulate expired prospects to contact you…
- You missed marketing opportunities that sell property in the (your market) area. We will show you marketing procedures that have worked in the last 12 months.
- The marketing was not customized to your personal needs and desired outcomes. We ask many questions to determine your exact needs and then draw from a large quiver of tools to customize your experience.
- Your agent was not a buyer magnet. We will show you the unusual services that we have for buyers which drives them to interact with us — most times under contract.
- Your features and benefits of the property were not adequately delineated and distributed to the world through an aggressive search engine optimization procedure. We will demonstrate and guarantee results.
- Your price needs to be adjusted. There is a delicate balance of pricing at the next level to take advantage of a better market with lower interest rates, but not too high as to be rejected by appraisers. How many times was your price adjusted up or down to make allowance for the market.
- Your agent needed a better grasp of the comparable sales. Smaller homes have a greater price per square foot. Some improvements greatly increase prices, some reduce. Decorating causes emotion, emotion causes sales. We have personal knowledge of the sold comps and the staff to help you make changes to your home, if you desire.
- Your agent lacked creativity. In the past, we have purchased a buyer’s home to allow them to close on a new property. We have loaned buyers their down payment from our commission so they could qualify for a loan. We have a lender team member who has come up with innovative financing plans to squeeze that buyer into a home. Through experience, we are innovative and that innovation gets homes sold.
- Showings on your home were not seamless. One phone call to our office gets agents into your home for showings. The owner gets previous notice of the showing and then after the showing, they receive feedback so they are aware of what the market is saying.
- You did not evolve with the market. Every 10 working days, we have a meeting with you to look at the changes we can make based on the competition, the sales, and the feedback. We have a fluid marketing plan to provide what the market calls for in obtaining offers.
- Interest did not result into contracts. We follow up on interest and make suggestions on how contracts can be formulated to achieve buyer’s goals while keeping your needs in mind. Newer agents representing buyers may not have the tools to move a buyer across the finish line. We will help with a little push!
Implement some new ways for the expireds to interact with you. Some of my clients are controlling 15% or more of the listed expireds in their area by offering more value to get the expired listing to call or email you.
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