Marketing expired listings is how many agents keep their pipelines full and it’s what they specialize in. It’s extremely targeted marketing which limits marketing expenses, you know they want to sell and they’re likely frustrated and looking for a new agent. Can you say “HOT prospect”!
Use these strategies for tackling and marketing to the expired listings in your market.
Timing is everything. You’ve heard the term “you have to strike while the iron is hot“…well, that saying holds true for expired listings if you plan to pursue them as one of your marketing strategies. Marketing to expired listings has to become a routine, something you do daily, without fail. It requires checking the MLS every day for which listings in your market have expired and following-up with that expired listing on the VERY day it expires. If you can commit to it and stick with it, it pays big dividends, because it’s such a targeted list of prospects.
Many Realtors® use expired listing door-hangers as a way to market to the expired listing on the very day it expires. Door-hangers are effective because they “greet people at their door“, it isn’t as invasive or intimidating as knocking on the door and it lets the person know you went out of your way to stop by. My favorite thing about door-hangers is that they are less likely to get lost in the pile of mail, so it stands out more. It’s not nearly as common as postcard marketing.
Following-up is everything if you want to find success with expired listings. Most won’t follow-up, so being one of the few who does will easily make you stand out in the onslaught of marketing the homeowner with the expired listing is receiving. Ways to follow-up could be a quick phone call offering your services and expertise as they consider their options. Drop a letter in the mail (register below to receive some free expired listing letters for download) offering your expertise and assistance. Send a expired listing postcard offering the same; your services, your assistance and your expertise as a consultant. Work on establishing a relationship vs. trying to immediately get a listing agreement signed. People with expired listings are frustrated and need consoling and understanding vs. a high-pressure sales pitch. They want to understand what went wrong and want someone who will communicate with them.
Make sure your photo is on everything. There are many articles on this site about the importance of a good head-shot photo for your marketing materials. People do business with people they know and like. You will become more familiar to people when they can put a face with your name, recognize you around town and “see you” over and over again. When you’re in real estate sales, familiarity and relationship building is imperative to your success.
When choosing a photo for your real estate marketing marketing materials, choose a photo that shows who you are as a Realtor®/person. If you would never show up to a listing appointment in a suit, then don’t put a photo of yourself in a suit on your real estate cards or marketing. That’s not really who you are. Show up on your marketing materials how you show up for appointments or open houses, that’s likely a good representation of you.
Please ask any questions you have about how to improve your “expired listing marketing game plan” and share any ideas you have that will help others with their marketing to expired listings. We want to hear from you!
Get the Expired Listing Letters emailed to you along with handout “The Top Three Reasons Listings Expire”:
The documents are fully editable and and I hope it helps you get those listings! Keep us posted on your results.