If you are a real estate professional, a great supply of sales revenue are expired MLS listings. Prospecting these expired listings are generally as innocuous as sending the landlord of the home an expired listing letter, or as blatant as physically knocking on the door. Regardless of how you prospect your customer, understanding their frame of reference can be chief to your success.
After making contact with your prospect, it is crucial to understand that they may perhaps still be motivated to sell the land, but may perhaps feel that they have been burned by the REALTOR listing process. Expired MLS listing prospects may perhaps need to be re-educated on the sales process and their expectations modified to achieve good results.
For prospects of this sort, expired listing script may not be as effective as more direct forms of marketing. Even though these letters are low cost and may be sent out in mass, they often are received much later than the prospect’s window of opportunity. Often a expired mls listing prospects receive several offers from different REALTORS and typically sign with their first contact. Consequently, expired listing letters are repeatedly received late.
For REALTORS that use RedX expired listing letters as a source of business a more helpful tactic may 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. The successful real estate agent utilizes these tools to identify leads, then reaches out on a daily basis by phone and occasionally in person. Because of these services, the real estate professional utilizes a first mover advantage to capture the listing ahead of the competition. Often, this slight 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. Again, this indicates that expired listing letters might not be the most useful method in which to prospect mls listing leads. Faithfully, the axiom that the early bird gets the worm applies to these scenarios, and the thriving REALTOR have got to tweak their lead generation tactic accordingly.
Author Resource:
For realtors aiming to develop their business, prospecting with RedX expired listing letters can be a great source of business. To enjoy a daily list of expired MLS listings and propective real estate listing customers, visit www.TheRedX.net now.
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