So… you want to take some listings?
In my opinion, there is no better way to get properties to sell than by soliciting expired listings. These listings expired mainly because of pricing. It was too high.
These Sellers have already decided to sell and they have already decided to use an agent. It can’t get any better than that.
Now all you have to do is get them to contact you. There are many different programs out there on how to work expired listings. Some suggest knocking on their door. Some have a system in place where you mail out numerous marketing materials staggered over a few months period. Some want you to call them.
My guess is that ALL of these programs will work if you follow their plan. But for me? I’m just too lazy to do this much work. I’m also too busy. So I have a very simple system that works for me. I keep it simple so I’ll do it. I don’t want a system that takes up too much of my time. So……..
I mail one letter. Every day. To every expired listing. With no exceptions. I have been doing that for 14 years. I usually get a couple a listings a month out of it. But you have to commit to it and be consistent.
Remember, the one day you miss is the day you would of hit a hot listing. So just like any marketing plan you have to stick to it. Don’t over think it. Just do it.
I do not personalize the letter but do hand write the envelope with the owner’s name. Whether they are owner occupants or absentee owners they get the same letter. I look them up in the tax records to make sure they are going to the right place. Sometimes if I am slow I will sit down and stuff a 100 or so envelopes so all I have to do is write an address and stick them in the mail.
This letter works for me but obviously modify to fit your own personality. I believe in short sweet and simple. It should be one page but the largest print that will fit. I think I use 12 or 14 font.
***Consistency is key!
Have you mailed to expired listing before and it didn’t work? If so, then maybe it's because they read like every other letter out there. You know what I mean. "We Market your house on 500 websites", "Our CMA is the best" and blah blah blah. There is no value proposition at all. The letter did not address the expired listing Seller's biggest concerns.
Lack of communication
Locked into a long listing agreement
Can't cancel without paying a fee
Never heard from my agent
If you want to have success working expired listings then you have to remember that the only reason you are contacting them is to get them to contact you. That's it. You want them to call or email you.
ALL expired listing Sellers have the same concerns that I listed above. I have NEVER, not once, had a Seller tell me their listing didn't sell due to pricing and rarely do they mention marketing. But they ALWAYS mention the agent's lack of communication. And of course we all know that the agent didn't contact them because they took an overpriced listing and didn't have any showings to call the sellers about.
The agent took the overpriced listing because they don't know how to sell Sellers on pricing. It's not the Seller's fault. It's not because the Seller made a bad decision. So quit telling then they did!
Sellers want to know what you are going to do different for them. ALL agents pitch marketing and CMAs.
I pitch 4 main things:
I will answer my phone when you call from 8am to 7 pm 6 days a week OR I will return your call within 1 hour guaranteed. Try it!! And they do. They will leave me a message telling me I have 60 minutes to return their call.
45 day listing agreement
Fire me anytime
Minimum once a week updates
And it just happens that these four value propositions line up perfectly with the Seller's four main complaints.
Build your letters around their common complaints and your letters will work. Save the marketing strategies and CMA until you are face to face. Make the phone ring. Pitch your wares later. Its simple.
IF YOU ARE READING THIS LETTER THEN YOUR REALTOR HAS NOT SOLD YOUR HOME.
My name is Bryant Tutas and I am the Broker and Owner of Tutas Towne Realty, Inc. I have noticed that your house was recently taken off the market so I am writing to see if you still have an interest in selling.
I welcome the opportunity to meet with you to go over your Real Estate needs and update you on current market conditions in Poinciana. Together we can devise a plan that will get your home sold.
In this more difficult market you need a Realtor experienced in your area who will get your home sold for full market value in a reasonable amount of time. I will offer you my 15 years of experience selling homes in Poinciana and an unconditional 45 day listing agreement that you can cancel at anytime with no fees to you. I get paid when you get paid. At closing.
I promise to talk to you personally during the listing period at least twice a week with updates. I promise to answer my phone when you call or return your call within 30 minutes Mon-Sun 8am-8pm. Try it! 555-555-2222.
Also check out my web site at www.CentralFloridaShortSales.com.
Folks, if you are serious about selling your home then give me a call today and start packing! I look forward to hearing from you.
Bryant Tutas, GRI
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.