Every real estate professional should be looking at a program to work on expired listings. More and more will be available because of the changing real estate economy and agents’ inability to stay ahead of the trends. This is a valuable resource for building your listing inventory because the sellers want to sell.
As every great agent knows it is your consistency that will make the difference in making any prospecting work. There is no difference in working with expired listings. The agent who does the most follow-up will be the winner. The best way to build in consistency into your individual program is to calendar it and make it a habit. Do this work the same time each day, week, whatever and you will find that the consistency is automatic—it’s now a habit.
What to do
Other brokers are calling the same time as you are, but how many have delivered a package? Some have. Make yours stand out. Put your package in a plastic bag and hang on their door, or put it in a bag with a design of a home on the front, make sure you have a picture of their home on your letter. You need to make yourself and your marketing stand out from the crowd.
Keep calling to get an appointment. The difference in making this pay off is your follow-up. All you want to do is show the difference between you and the other brokers. Make the sellers the focus of all your presentation materials—not you. Most agents give up after one or two calls.
Should you leave a message on an answering machine? I say YES. Something simple, but that will get their attention. “I noticed that your property is not in the Multiple Listing Service any longer and there is no record that it has sold. I would like to spend just a few minutes telling you about my marketing program so that we both win.” You can get even more creative than this.
What happens when you have no phone number? You need to develop some quick postcards that you can send every other day. Not too much, just a few lines about how it is important that the seller get the best representation, etc. If you want some samples, just email me. Most agents don’t even start to work on these sellers if they have no phone number. You will definitely he noticed this way.
You can send the same letter and immediately follow-up with the same postcards. It’s an easy system. If you have the phone number, of course, call.
There are two major points to this article. Be consistent with your follow-up and stand out in the crowd. Do something different. The picture of the property embedded in the letter is something that I have found works really well. Give it a try. There’s gold in those expired listings!