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Real Estate

How to Obtain Expired Listings in Real Estate?

Unfortunately, many agents struggle to contact property owners, and some are unwilling to talk to you. There are a variety of ways to get expired listings – Espresso Agent. One way to approach potential property owners is by sending a letter. A letter should be on professional letterhead, signed by you, and follow the same formula as expired scripts. Write about your unique real estate marketing strategies and end with an invitation to meet.

Cold calling

Real estate agents should first contact the property owners to get expired listings to understand their mindset. Homeowners with expired listings may have some questions about the failure of their listing or don’t trust real estate agents. If you can build rapport with them, they will be more likely to set up a follow-up appointment with you. You may consider cold calling to obtain expired listings in real estate as an extra marketing tool.

After asking about the property, follow up. A couple of weeks after your initial call, you should follow up by ensuring the listing is still on the market. To do this, follow up with a postcard or door hanger. After two weeks, the homeowner will likely have already moved on, and other agents will continue beating you. Eventually, the persistent agent will show up in person. It would help if you also had a script to handle common objections.

Emailing

To effectively email expired listings in real estate, you must have a clear purpose. Your letter should be a call to action but also evoke empathy and explain why the listing expired. You can also include a free market report or mention your recent marketing and advertising efforts. Whatever you decide to do, don’t make the letter too long or too vague. Besides, it’s a good idea to follow up with the seller to see if they’re still interested in buying the property.

The goal of emailing expired listings in real estate is to build rapport and trust with the seller. Using a list of expired listings is the first step in this process, but you can also use other tools to find expired listings. This way, you can focus your message on the seller rather than a general target. You can also use a lead letter to build a relationship with the seller.

Targeting a niche

Unlike the general real estate market, FSBOs are a niche in their own right. You can easily drum up more referrals in a short period if you focus on the needs of a niche. You can also take advantage of the high demand for vacation homes and target equity investors who are not necessarily interested in flipping properties. They are simply interested in purchasing a good deal and returning to the market in the future.

Expired listings have lower competition. The average real estate agent spends many hours weekly looking for expired listings. Although this task is free, it takes time. You could spend that time working on active sales and lead nurturing. Real estate investors can take advantage of a high-quality list of expired listings by focusing on a niche. You can use this free resource by using automated marketing communications, targeted ads, and reaching out to clients of expired listings.

Texting

How to obtain expired listings in real estate by SMS text message? The goal is to get someone’s attention so that you can schedule an appointment to view the home. In most cases, the response time is immediate, which will increase your chances of setting up that first appointment. However, it would help if you never sold the home by cold texting. Instead, your goal should be to begin a conversation. That way, you can learn more about the listing.

Before starting a texting campaign to get expired listings, you must know how to find these people. Then, you can cross-reference the information from public records to a social media profile. It is more personal, and you’ll have more success if you build a relationship with people through social media than if you send generic messages. It is why SMS marketing works best with expired listings.

Using a pre-written script

Using a pre-written script to acquire expired listings in real estate is an effective way to break the ice with your prospects and get them to agree to your listing presentation. However, there are some considerations you should take before using an expired listing script. The first consideration is how to handle objections. Some expired listings have been canceled. If you have the resources, you can find canceled listings and use the script to help you get the listings you desire.

Whether you use a pre-written script to obtain expired real estate listings or develop a custom one, a well-written script can help you increase your success by ensuring that your conversation is as professional as possible. An expired listing script should include data-backed conversation points that position you as an expert in your neighborhood. For example, you should emphasize that you have sold properties in the neighborhood before and can answer potential clients’ questions.

Read also: Top US Cities to Invest in Real Estate for 2022

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