Expired listings are an excellent source of leads if you want to increase your real estate business. However, targeting them requires patience and marketing expertise.
You can find expired listings by searching through your MLS. Or, you can visit your local county courthouse or city hall to request access to their public records archive.
Expired MLS Listings
Expired listings are one of the largest sources of real estate leads available. Property owners are motivated to sell their homes, which makes it an excellent time for top agents to reach out and secure these leads.
Fortunately, it’s easy to find expired listings on the MLS. Search for properties that expire in a month or fewer using the location you wish to target in your MLS.
Once you’ve identified a handful of properties about to expire, you can contact the sellers. Some homeowners will be willing to speak with you via email or phone, while others may not.
If you need help getting an owner to respond to a phone call, try sending them a letter through the mail. This letter should be sent on professional letterhead and personally signed by you. It should highlight your real estate marketing expertise and explain how you can help them list their home.
To increase the effectiveness of this letter, include a testimonial from an expired listing lead you’ve helped sell previously. This social proof will help you overcome the seller’s reluctance to talk with you.
Once you’ve contacted an expired listing lead, nurturing them is essential. Drip marketing is an excellent strategy for promoting your leads, but offering value in the emails you send is crucial. It can include neighborhood and market reports, helpful tips, and information about what causes listings to expire.
Social Media
Expired listings are a gold mine for real estate agents. They are a good source of new leads and a great way to build your brand.
One of the best ways to find expired listings is through social media. You can use a hashtag search on Instagram, Twitter, or LinkedIn to find expired properties in your area.
The most effective real estate social media marketing strategy is to create engaging and relevant posts for your target audience. A tool can help you create content for multiple social media platforms, schedule posts at the correct times, and track engagement.
It would be best if you also took advantage of video marketing. Studies show that videos attract more than 300% more traffic and leads than any other type of marketing.
Another great way to get your name out there is to start a new social media account. This way, you can have a consistent presence online and increase your credibility with expired listing owners.
Using social media to find expired listings can be challenging, but it can be a rewarding and profitable experience. It’s essential to do your research and understand the tools available.
Direct Mail
Expired listings are one of the most popular lead sources in real estate. They allow agents to increase their business and build a niche specialization. Obtaining expired listing leads takes time and requires a strong marketing plan, a well-organized CRM, and practical phone, email, and letter outreach.
An excellent way to find expired listings is to use a search tool that can identify property postings by city or town that are about to expire. It can help you create a list of home sellers needing a real estate agent.
Another option is to purchase a list of expired listings from a third party. It will eliminate the need to scrape data from the MLS and public databases manually.
You can also use a service that caters to real estate agents to create customized, professional-looking mailers for your expired listing campaigns. These services can offer significant time savings over creating these mailers yourself.
Direct mail can be a cost-effective way to target homeowners with expired listings and is an excellent opportunity to differentiate your brand from other real estate agents in the market. These postcards can include your contact information, company details, and more.
Using this method can be especially beneficial for agents new to real estate. It allows them to build a strong foundation based on trust and confidence with their prospects. It can also help them develop a strategy for follow-up with their options, which is crucial for converting them into listing clients.
Phone Calls
Expired listings are a fantastic opportunity for agents to build their list of potential clients. These home sellers could not sell their property with a previous agent and may be open to working with a new agent. However, to unlock these opportunities, you need to find them, get their phone number, and reach out to them professionally and effectively.
In addition, you need to be prepared for any objections they might have. These homeowners are used to receiving calls from many agents, so you must stand out and be confident in your marketing message.
Finding out why their listing has expired should be your first step. It will help you better understand their needs and build trust with them.
Another critical step is to find out their motivation for selling their home. You can accomplish this by conducting research and getting in touch with former agents.
Finally, it would be best to find out their time frame for selling their home. If they had a specific timeframe, you could get them to agree to work with you.
Using phone calls to connect with expired listing leads is a great way to build your client base and generate new business. It is estimated that cold calls can result in up to one listing appointment for every 25 expired listing contacts.
