For REALTORS and brokers, a great source of sales revenue are expired MLS listings. Prospecting these expired listings can be as innocent as sending the owner of the house an expired listing letter, or as blatant as physically knocking on the door. Regardless of how you tactic the prospect, it is very important to understand the mindset of your target client.
As you evaluate the mindset of the potential client, it is important to know that they are a motivated seller that has for one reason or another not been able to realize the goal of selling their property by means of their existing listing agent. These prospects have heard the traditional REALTOR presentation and are open to anything that appears unique, different, or more useful than what their existing real estate agent offers.
For these prospects, expired listing letters may not be very effective. Although these script are low cost and might be sent out in mass, often, expired listing letters, postcards or gifts are received well after the prospect has previously signed with a competitor. It is not uncommon for an expired listing to receive five or more phone calls from aggressive real estate agents on the day that their listing expires. Consequently, the prospect may receive the expired listing letter well after they have already signed with a additional real estate agent.
For REALTORS that use expired listings as a supply of business a more effective tactic may perhaps be to employ listing lead services such as the RedX (Real Estate Data Exchange) or LeadSenders to gain access to the leads in real time. Most thriving REALTORS use these types of tools to seize leads and get listings before their competitors. Through these services, the real estate professional utilizes a first mover advantage to capture the listing before the competition. Repeatedly, this minor advantage is all that the agent needs to get the business.
In general, an expired MLS listing lead will sign with the first REALTOR that makes contact. Once again, this shows that expired listing letters may perhaps not be the most helpful method in which to prospect mls listing leads. Genuinely, the axiom that the early bird gets the worm applies to these scenarios, and the thriving REALTOR have got to adjust their lead generation approach accordingly.
REALTORS, get expired listing letters and prospecting tools to help grow your listings and close more sales. Go towww.TheRedx.net to learn the secrets of rapid real estate growth
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