How an Expired Real Estate Listing Service Can Help You Sell Your Property Faster

How an Expired Real Estate Listing Service Can Help You Sell Your Property Faster

Working expired listings can be a great source of real estate leads. It can also be a grind and requires that agents work outside their comfort zones to contact property owners.

Newer agents may need help capturing seller prospects’ attention with phone calls or emails. A better approach is to send them a letter on your company’s letterhead, personalizing the message with testimonials and unique marketing ideas.

Expired Listings Are a Great Source of Leads

Expired real estate listings are a great source of leads and referrals. Once a listing expires, the seller is often open to working with a new agent and may be looking for an agent to help them sell their home quickly.

Getting real estate expired listings can be challenging, but the right marketing strategy and customer relationship management (CRM) system can succeed in farming these prospects. One of the best ways to find and nurture expired listing leads is through a drip marketing campaign. A drip marketing campaign is a series of automated emails sent to a lead regularly. This type of marketing is effective because it provides value to the prospect and avoids appearing too spammy.

When reaching out to expired listing leads, it’s important to remember that they’re often frustrated and nervous. They’ve tried to sell their home before but have not succeeded so they may be wary of another agent contacting them. Demonstrating empathy and showing that you care about them and their property is important. When writing an expired listing letter, it’s critical to customize each to feel personal. There are many different templates online that can be used to create a general letter. Still, it’s important to edit each to include information and statements that will make the prospect feel unique and valuable.

Expired Listings Are a Great Source of Referrals

Expired listings are a great source of quality leads for real estate agents and a great source of referrals. These homeowners are typically motivated to sell and have already chosen and worked with a listing agent, so they’re more likely to be open to hearing from new agents. Plus, working with expired sellers is usually less time-consuming than working with buyers since the seller has already been through a buyer consultation, shown the property via open houses or private viewings, organized inspections and appraisals, helped qualify for financing, and more. The key to getting started with expired listings is to develop a strategy for finding and communicating with them. While you can use various methods for prospecting expired listing clients, some of the best include contacting them directly, sending them letters, or advertising online. Whichever method you choose, be sure to use consistent, strategic marketing and messaging that differentiates your approach from other agents.

Expired Listings Are a Great Source of Leads

Many real estate agents consider expired listing leads a valuable source of new business. Some top-producing agents use them as their main lead generation source year-round. As a result, some have established an Expired Listings Division within their real estate team. Expired real estate listings are properties listed for sale in the MLS and did not sell within a certain time frame. After a certain amount of time, the property is removed from the MLS. A home may expire due to market conditions, over or under-pricing, a bad experience with their previous real estate agent, or changes in the homeowner’s life situation.

The good news is that homeowners with a property listing expire are still interested in selling their homes and will likely work with another agent. This is an excellent opportunity for a real estate agent to build a relationship with the seller and help them sell their home quickly.

The key to reaching out to expired listing leads is to provide them with an incentive. They are most likely frustrated by their prior listing experience and may question why their home did not sell. By giving them a clear incentive to work with you, such as a lower sales commission rate or a detailed plan for marketing their home, you can show them that you are the best option to sell their property quickly.

Expired Listings Are a Great Source of Leads

While converting expired listing leads isn’t the most glamorous prospecting source, it can be very lucrative. Many of these leads were burned by a previous agent and are open to working with someone new. This is especially true if you can help them understand why their listing didn’t sell. During your marketing presentation, you can show the seller what went wrong with their previous listing—such as an asking price that was too high or ineffective marketing—and how you can solve these issues for them. Doing so may inspire the homeowner to relist with you instead of their previous agent.

Finding expired real estate leads online can be difficult, but using real estate makes it easy to find and convert them. With the ability to automate email and text messaging and use artificial intelligence (AI) to help nurture leads and track their progress. Another way to find expired listings is by searching public records. This can be done manually by visiting your local city hall or county courthouse to obtain records. However, this can be very time-consuming and isn’t the most efficient method of finding leads.