If you are a real estate professional, leads from expired MLS listings are generally a great supply of revenue. Getting an expired listing to sign with you are usually the result of a benign communication such as a listing letter, or as blatant as physically knocking on the door. Regardless of how you tactic the prospect, it is very important to appreciate the mindset of your target client.
After making contact with your prospect, it is vital to understand that they might still be motivated to sell the home, but may possibly feel that they have been burned by the REALTOR listing process. These prospects have heard the traditional REALTOR presentation and are open to anything that appears unique, different, or more helpful than what their existing real estate agent offers.
For this type of prospect, expired listing letters may not be the most helpful way to communicate. Even though these letters are low cost and are generally sent out in mass, often, expired listing letters, postcards or gifts are received well after the prospect has previously signed with a competitor. 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. Consequently, the prospect may receive the expired listing letter well after they have already signed with a new real estate agent.
For REALTORS that use expired listings as a supply of business a extra useful tactic may perhaps be to employ listing lead services such as the RedX (Real Estate Data Exchange) or LeadSenders to access the leads in real time. Most thriving REALTORS use these types of tools to seize leads and get listings before their competitors. By way of these services, the real estate professional utilizes a first mover advantage to catch 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 house with the first agent that makes contact. Once again, this shows that expired listing letters might not be the most helpful method in which to prospect mls listing leads. In all honesty, the motto that the early bird gets the worm applies to these scenarios, and the successful REALTOR have got to alter their lead generation strategy accordingly.
After making contact with your prospect, it is vital to understand that they might still be motivated to sell the home, but may possibly feel that they have been burned by the REALTOR listing process. These prospects have heard the traditional REALTOR presentation and are open to anything that appears unique, different, or more helpful than what their existing real estate agent offers.
For this type of prospect, expired listing letters may not be the most helpful way to communicate. Even though these letters are low cost and are generally sent out in mass, often, expired listing letters, postcards or gifts are received well after the prospect has previously signed with a competitor. 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. Consequently, the prospect may receive the expired listing letter well after they have already signed with a new real estate agent.
For REALTORS that use expired listings as a supply of business a extra useful tactic may perhaps be to employ listing lead services such as the RedX (Real Estate Data Exchange) or LeadSenders to access the leads in real time. Most thriving REALTORS use these types of tools to seize leads and get listings before their competitors. By way of these services, the real estate professional utilizes a first mover advantage to catch 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 house with the first agent that makes contact. Once again, this shows that expired listing letters might not be the most helpful method in which to prospect mls listing leads. In all honesty, the motto that the early bird gets the worm applies to these scenarios, and the successful REALTOR have got to alter their lead generation strategy accordingly.
About the Author:
Real estate agents, get RedX expired 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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