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Archive for expired listing postcard

Is It Time to Focus on Expired Listings?

Focus on Expired Listings

While many sources continue to talk about scarcity and rising prices, in many areas the housing market is softening.

Trulia found that 70% of the largest metro areas saw a slight increase in for-sale listings with a price decrease. San Francisco had the most, with a 3.07% increase in price reductions, even though the city remains a hot market.

It’s not that home prices are declining – far from it – but that in some areas homes aren’t selling as quickly. In fact, there is also an increase in expiring listings. I know it’s anecdotal, but in my neighborhood I’ve seen homes go through three Realtors® due to expiration.

Are you ready to take advantage as the market softens?

Be Ready to Be Unique to Win an Expired Listing

If you reach out to an expired listing, you certainly aren’t the only one. Be ready to handle some frustration – not just because you’re the 1,000th agent to call, but because an expired listing is frustrating in itself.

Be ready to show right away how you’re unique and what you can do differently. Ask questions and talk about why the home didn’t sell. Talk about what fresh approach you can provide and why that matters.

Remember that although the market is softening somewhat, competition for expired listings is still fierce. You’ll need to be prepared to stand out.

Consider a Face-to-Face Meeting

Door-knocking is still effective, especially with expired listings. They tend to be inundated with robotic calls, but have almost no one put in the effort to show up in person.

Consider dropping by the home on a weekend and asking some questions. You may even offer to take them out to coffee to discuss what happened with their listing.

When you go door-to-door with expired listings, you’ll show a higher level of professionalism and care than your competitors. Not only will that help you stand out, it will do a lot to ease the mind of someone who feels burned by real estate agents.

Take Your Time and Mail an Expired Listing Postcard

Sometimes hitting an expired listing immediately isn’t the right answer. A lot of times someone who is frustrated and disappointed needs time to cool off before they’re ready to hear another offer.

One great strategy is to forgo the immediate call and instead send an expired listing postcard. It will take a couple of extra days to arrive, and it gives you a chance to make an impression in the mail. You can choose to follow up with a call a day or two later, asking if they received your postcard.

If you’re afraid you’ll order expired listing postcards and then run out of time to send them, I understand. That’s why Printerbees offers mailing services as well! We can print the postcards and send them to your list of expireds for you.

Are you ready for a softening market? Do you know how to stand out to expired listings? Whether you decide to call, visit in person, or send an expired listing postcard, it’s time to get ahead of the game.

Don’t wait until everyone else is also focusing on expired listings. Get your strategy in order now. If you need postcards, mailing help, or more information about marketing to expired listings, just let me know – I’m here to help!

Are you focused on expired listings? Why or why not? Share in the comments!

Beat the Expired Listing Rush – By Waiting

Expired Listing Postcard

Calling expired listings is a tough job. This is especially true because you’re hardly the only agent calling – a new expired could get over a dozen calls offering new representation. How do you stand out?

The best way to stand out is through a highly unorthodox tactic – waiting.

You may think that if you wait, you’ll miss out on the best expireds. However, that isn’t true. There are many reasons that a newly expired listing may decide not to re-list right away. When you use expired listing letters to mine the old expireds, after other agents have already moved on to a new batch, you’ll not only hit the homeowners at a better time – you’ll have almost no competition doing so.

Why Newly Expired Listings Decide Not to Relist

If a listing doesn’t sell, there was obviously a problem. Maybe there are needed repairs. Maybe the agent didn’t do a good job. Or, maybe the seller was unreasonable about price or other provisions. Regardless, the homeowner may not be in a position to relist right away.

Homeowners with expired listings are often worn out by the selling experience and disillusioned with their Realtor®. This alone may make them decide to take time off and relist at a different time. In addition, the deluge of calls and visits they get right after their listing fails is likely to irritate them rather than encourage them. Any Realtor® who approaches them at that time may well get a firm “no” for no reason other than overwhelm.

After a few months, these homeowners are more ready to be approached about listing again. In addition, after failing to sell the first time, they may be more ready to hear suggestions about repairs, staging, and price. This makes it a great time to reach out to them with expired listing letters.

How to Connect With Old Expireds

The great news with older expireds is that you won’t be competing with dozens of other agents to get the listing. Most agents give up after the initial “no” and move on to the next new list. By reaching out with expired listing postcards or expired listing letters after three or four months, you’ll be able to connect with homeowners more easily.

Make sure your expired listing letters address the homeowners emotions about not selling the home, but don’t place any blame on them for failing. Offer to help them discover, and correct, any issues that blocked a sale. You can keep it especially simply by sending an expired listing postcard inviting them to contact you.

Why am I recommending mailings instead of a call? For a couple of reasons. First, with cell phones being everywhere it’s easier for a call to catch people at a bad time, resulting in a “no” based more on convenience than actual consideration of your offer. Secondly, many people screen calls or don’t answer their phones. A mailing will be more likely to get attention, be able to say more for you, and faces less competition than calls or emails.

Expired listings are a great source of listing leads, but if you’re looking to beat the rush, try a new technique. Wait a few months, then follow up with expired listing letters or expired listing postcards. The seller will be in a better frame of mind and you’ll have much less competition. That’s a win-win.

Looking for help? We have a variety of expired listing postcards you can use. Take a look today!