Expired listings are a great resource if you’re looking for low-cost, qualified leads. They’re also low overhead and can generate great sales volume.
They Are Qualified Sellers.
There are many reasons why real estate businesses need expired listing leads. One of these reasons is that expired sellers are often qualified sellers. When you reach out to these sellers, make sure you do it in a way that will be helpful to them. For example, try to make it clear that you are local. Some of these sellers may not be receptive to telephone calls, so they must be approached by email or text. Regardless of how you contact these leads, ensure you follow all laws and regulations on contacting potential sellers.
Based on industry experts like https://www.vulcan7.com/expired-fsbo-leads/, another reason why expired listing leads are valuable is that they are motivated sellers. When a seller is motivated, they’re more likely to negotiate a good price. This is excellent news for real estate agents because they can close a sale faster. However, the process of acquiring expired listing leads can be challenging. If you’re new to the industry, you might not know how to find expired listings.
They Are Low-Cost
Expired listing leads are one of the easiest and cheapest marketing tools available for real estate businesses. They can be obtained by searching through the local MLS. They contain contact information, marketing tools, and data for recently expired properties. Expired listing leads are an excellent resource to increase sales and reduce costs.
However, to make the most out of expired listing leads, you must be persuasive and follow all legal requirements. You can compose a well-written email or letter to the owner. It should be on professional letterhead and address the seller’s needs. Another effective option is to use postcards. Real estate businesses can track their results using a CRM. The advantage of postcards is that they can be tracked and measured, just like online marketing campaigns. They also require no minimum order requirements. As such, you can test your campaigns for effectiveness without risking money.
They Are Low-Overhead
Real estate businesses need expired listing leads because of their low overhead. You no longer have to scrape information from MLS and public records when you buy expired listings. Instead, you can find high-quality leads on expired listings using an online lead platform. To find these leads, search for them using specific parameters.
Expired listing leads are not as easy to convert, but they are often low-cost and can be automated to send out follow-up emails or texts to interested parties. However, they may have gone through a stressful or emotional experience with their listing agent, so you need to build trust with these leads. Also, expired listing leads are an excellent way to reach out to a seller. You can call or email them, but getting to the property owner may be challenging. You can also send an expired listing lead letter if you can personalize it. Make sure the letter is on professional letterhead and focuses on the seller.