Agent Insights - In this edition of Agent Insights, Beth Atalay, an Orlando broker and owner of Cam Realty and Property Management shares her insights on the best ways to contact expired listings.
"List to Last"...I'm sure you've heard this before, how do you get listings? This is even more challenging for newer agents or for those who had to take some time off and been out of touch for some time.
Going after expired listings will work if done right. Homeowners of these listings have already shown interest in selling their home, but were not successful. It’s not always their real estate agent’s fault that their home didn’t sell, but most would tell you it is.
What would be the best way to contact Expired Listings without being intrusive or rude?
Calling them the day their home expires in MLS.
Before you take this approach, ask yourself if you would want to receive 50+ calls from aggressive real estate agents the day your home expires starting as early as 7:00 am. This is not the method I feel comfortable with, so I would never do it. However, if it fits your personality, then you should go for it! Before you pick up that phone, I suggest you have scripts and know what to say when the homeowner answers the phone. You’re probably asking how and where to get their phone numbers from. Here are some suggestions:
Not only you will get a list of all the expired listings on a daily basis but their phone numbers and emails as well. You can pull up a list by subdivisions, this is great for circle prospecting.
EspressoAgent provides a list of expireds with their email and phone numbers. ArchAgent, Landvoice and RedX are just a few others you can check.
Be sure to check whether the homeowner you’re calling is on the Do Not Call List before you start dialing.
Sending them a Postcard
The challenge with this is by the time homeowner gets your postcard, their home will most likely be listed with another real estate agent. If you are targeting those that expired 30/60/90 days even a year ago, postcard might work as long as you follow up with a handwritten card or a CMA.
Delivering a packet
This packet may include a brochure, market update for their neighborhood and a letter that’s signed by you. You could deliver it the day it expires, but please do not put it in their mail-box, that’s illegal. You could include tips such as; “8 Reasons Why Your House Didn’t Sell”, “Tips on Getting Your House SOLD”, come from contribution. Let the homeowner know what you will do for them should they decide to list their home with you. Once you deliver the packet, send a handwritten note. Stand out from the crowd.
I know some will say by the time you do all of that, someone else already got the listing, so be it. That’s OK with me as I do not like to call expireds (as I wouldn’t want to be on the receiving end). You would be surprised to see how many homeowners are more receptive to a professional packet than being hounded by fifty agents the day their home becomes an expired listing.
I do work expired listings, but not the ones that are recent. Instead, I go back 30/60/90 days and choose the ones I like to work with. Not every expired listing is a right fit for me or my business, so choosing the right home is a top priority. I deliver a package to their door, then follow up with a handwritten card thanking them for accepting the packet and see if they have any questions. They will receive some type of mail every three weeks until they either tell me to stop, list with me or another agent. For homeowners, it’s a process of elimination, stand out from the crowd, provide the homeowners with the information they need and useful. It’s OK if they don’t list with you, they will, however, remember your professionalism.
What’s the Best Way to Contact Expired Listings Without Being Intrusive and Rude? Share in the comments below!
For more from Beth, check out her website: http://wheretoliveinorlando.com/.