Hello World! Welcome Friends! Unlike many lead generation tactics, working expired listing leads doesn’t cost you more than the time you put into it. It’s also less labor-intensive than working with buyers.
They’re Motivated
Expireds are ready to work with an agent to get their home sold. They understand that listing their property for sale takes a lot of work, and they need an expert who can help them price their home accurately, stage it for showings, and market it effectively. In most cases, the seller is still interested in selling their home even though it has been on the market for an extended period.
Unlike buyer clients, marketing to expired listings requires less work and commitment. Expired sellers are typically more willing to listen and respond to the advice of an agent, especially since their previous listing experience has yet to be successful.
You should systematically develop a strategy for contacting experts to maximize this opportunity. The first step is to gather a list of homeowners who recently had their property listed. Then, you can create a postcard campaign or reach out directly to these homeowners with a letter tailored to their situation.
Before you begin calling expires, it’s important to prepare a script for your calls and practice it until it becomes second nature. This will ensure that you can speak fluidly about your approach to the marketing of their home and effectively handle any objections they may raise.
They’re Expired
There’s a reason why many real estate agents choose to work with expired listings. These leads are often easier to convert than other real estate leads because they’ve already demonstrated that they’re willing and able to sell their homes. They just weren’t able to do so the first time around. This makes it easier to show these homeowners that you have what it takes to get their homes sold and that you can provide the necessary expertise, knowledge, and skills to help them make a successful sale.
Prospecting FSBO lead sources is also less time-consuming than working with buyers because relisting a property doesn’t require scheduling buyer consultations, coordinating open houses and private viewings, arranging inspections and appraisals, helping clients qualify for financing, or managing the complexities of closing on a home. Consequently, you’ll have more time to devote to nurturing your relationship with an expired listing client and converting them into a new client.
In addition, when you purchase expired listing leads from a real estate lead generation platform, you save the time that comes with manually scraping MLS and public records data. With a subscription to our lead generation platform, you can receive a daily list of FSBOs and other expired listings in your area sorted by map, mileage proximity, price range, and county.
They’re Available
Whether they were unsuccessful in selling their home or decided to stop marketing their property, sellers who have their listing expire are still interested in finding out the best way to market their home. As a result, expired listing leads are typically easier to convert into clients than other lead types.
Moreover, expired listing leads are more affordable for agents to nurture. Other real estate lead generation methods can cost agents much money, particularly when buying lists or paying for online advertising.
In addition to being more affordable, many real estate professionals find it much easier to communicate with expired listing leads. For example, if a homeowner has a listing about to expire, the agent will likely send them a letter explaining why their home wasn’t sold and offer to help them sell their property in the future. This provides a great opportunity to build natural rapport and highlight the agent’s sales expertise.
In addition, the homeowner’s contact information is usually accurate in a listing database. This makes it easy for agents to reach the homeowner via phone, email, or text.
They’re Ready to Sell
Unlike working with buyers who need to schedule buyer consultations, open houses, home tours, property inspections, and help with mortgage financing, selling a listing requires significantly less time to get the deal done. This can particularly appeal to busy agents trying to grow their businesses quickly.
Many homeowners feel let down when their listing expires and are often eager to work with an agent who can sell the property promptly. Whether their previous agent overpriced the home, did not effectively market it, or did not negotiate well enough on behalf of the seller, a new real estate agent can often win them over by providing clear insight into what went wrong with their listing and an effective marketing strategy for their home.
As you begin prospecting expired listings, make sure to have a short and engaging expired listing script. Performing a skip trace in your real estate lead generation software is a fast and simple way to gain contact information on expired listing leads and quickly reach out to them. You can also synchronize your expired listing leads to your CRM (customer relationship management) for easy note-taking, follow-up, and automated drip email campaigns.
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