.: Real Estate Marketing On Steroids; Farming Expired Listings For Increased Profits
By:Lanard Perry
Category:Home / Finance / Real Estate
If you’re not farming expired listings you’re missing out on one of the best real estate marketing strategies going…and a major source of income. Why? Well, there are many reasons, but I’ve distilled it down to 4 major ones for the sake of brevity.
Perhaps they will convince you once and for all about how an expired listing script is one of the best strategies for marketing real estate.
1. Farming expired listings is easy to do. It’s as simple as logging into your Multiple Listing Service (MLS) and doing a search of expired listings for any time frame you want. Go ahead - try it right now. It’s simple, easy and near effortless!
2. Expired listings are some of the hottest leads you’ll ever have - each one is a known and motivated seller! When a listing expires it’s usually not a good thing.
Some owners have to sell because they’re moving to another city and state to start a new job. Others may have to sell because they were “down sized.” Still, some want to sell because they’re transitioning into retirement and are trying to lower their monthly living expenses.
In many instances, no matter the reasons, they’re more motivated to sell than they were before!
3. Sellers of expired listings are often more realistic about price and terms the second time around! Good agents can leverage expired listings to better prices, terms and conditions. Astute Sellers are quick to understand that they may need to give a little on their asking price, or sweeten their listing by providing other financial incentives to sell their properties.
The more the Seller is willing to “give”, and they will, the more desirable their new listing with you will be, and the more likely you are to get it sold!
When Sellers insist on overpricing their listings you can politely decline them (which will shock them like you wouldn’t believe) knowing that more opportunities are just a few mailings away! Sometimes the Sellers are so stunned when you decline their offer to list with you they’ll start back pedaling while trying to give you what you want to list with you. After all, how many times have you actually declined a listing?
4. Most real estate agents do not farm expired listings – they assume that someone else has already converted them to new listings. But they’re wrong. Sometimes nobody is going after them!
I’m constantly amazed at the number of agents who know that expired listings are worth their weight in gold, but ever market them.
Go on and try it out for yourself. Go around you office and see if any of your coworkers are farming expireds! But do it quietly! You don’t want to give them any ideas if they don’t already have any!
What you’ll find is that few, if any, are farming expired listings. Instead of marketing real estate in this relatively stress free way, they’re hung up on complicated real estate marketing schemes that cost a bundle of money and deliver little return on their investment.
It’s the most incredible thing I’ve ever seen. Even veteran agents, who should know how valuable expired listings can be, don’t farm them. In the end their failure to act is your gain.
So, if you’re not farming expired listings you ought to seriously consider it. Don’t continue to be one of those agents that assumes another agent has already secured the listing. Instead, be the one that actually converts the expired listings into new ones!
Article keywords: real estate marketing, marketing real estate, farming expired listings, expired listings
Article Source: http://www.articles32.com
Lanard Perry, author of a real estate marketing system that shows Realtors how to average 1 or more listings a week. Visit him at Real Estate Marketing Talk for more marketing ideas.
.: New Real Estate Articles
1). How to Find Foreclosure Homes
A foreclosure is the result of a homeowners default on mortgage. Most of the time, the homeowners are unable to maintain the premises and take on repairs.
2). Guide to Buying Property in Spain
The beauty and wonderful climate of Spain make it an ideal place for people around the world to purchase property. Exquisite Spanish villas are abundant throughout the country. There are numerous locations to choose from, each offering a unique environment for either a permanent residence or a relaxing vacation home.
3). Media Confirms Port Charlotte a Great Investment Opportunity
Media and journalism have the power to influence the success or failure of any industry. The reports carried by newspapers or other means of information can actually cause the rise or fall of prices and value in a specific industry.
4). Let a VA Handle Your Transactions While You Take a Vacation
You have been working hard, its time to reward yourself with some time away from the office. Aahh, but you have real estate transactions that will be coming in soon, so how can you possibly take some much needed and deserved time away from the office?
5). Fixer-Uppers: Project Management 101
The goal in real estate investing should be to make the most profit in the least amount of time using as little of your money as possible. This article explains how becoming a Project Manager will help you with this end goal.
6). Host an Event to Sell Your Property!
Sometimes stimulating interest in your investment property means that you have to shake things up a bit when it comes to marketing. One rarely used but highly successful real estate investing marketing ploy involves hosting unique events at the investment property to bring traffic and potential buyers to the property.
7). Success with Florida Investment Lots
The trends and patterns in the real estate industry are often defined by the lifestyle patterns and the general standard of living of people.
.: Top Real Estate Articles
1). Real Estate Math - Do You Know These Simple Formulas?
How much real estate math do you need to know if you are investing in real estate? There are computers and calculators for calculating interest rates or amortizing loans. What you need to know is a few simple formulas for determining if a property is a good investment or not.
The Real Estate Math You Don't Need
The gross rent multiplier is one formula you don't need.
2). Flip That House Style Real Estate Investing
I love those TV rehabbing shows like Flip That House. On the show people buy a house needing to be seriously updated and repaired. Usually the kitchen is heavily upgraded with new cabinets, cutting edge appliances, new countertops and more. The bathrooms are completely redone with new tile, tubs, showers, sinks and more. The living rooms and other areas usually have walls taken out to open up the floor plan and usually carpet is replaced with some type of hardwood flooring.
3). VASTU AND FENG-SHUI QUESTION AND ANSWERS - RealAcres
QUESTION If my flat is built in 1987 and my main door faces North, is my flatprosperous ?
ANSWER From the year 1984 to the year 2003 , any house or flat that sits at the south and faces the north and has the main door at north has a very good fengshui house till the year 2003. However the external topography will also playa part to the family's health and wealth.
4). How to Sell Your Home in a Slow Market
The real estate market has slowed down in many areas that were booming over the last few years. Sellers in those areas got spoiled. It was only necessary to put a sign out front, and buyers came. Homes sold in a matter of days. This is no longer happening. If you want to sell your home in a slow area, what do you do?
Go Back to Marketing Basics
Whether you are selling your home yourself or working with a realtor, the answer is the same.
5). Understanding Mello-Roos When Considering a Purchase
Part of the process of evaluating the decision to make an offer on a home in a newer development is understanding the costs. Mello-Roos are one issue that is popping up more and more.
Understanding Mello-Roos When Considering a Purchase
The process of real estate development has become a much more complex one in many parts of the country. The idea of buying some land and building a few homes is a bit naïve these days.
6). How To Find A Real Estate Agent
It's easy to find a real estate agent. Just put a for sale sign in the yard and wait for the phone to ring. The question is, how do you find a GOOD real estate agent? You can start with newspaper.
Pick up the Saturday or Sunday paper - whichever day they have all the homes for sale in your area. You can also collect a few real estate guides to look through.
7). Taking Title When You Buy
Taking title to a home can seem like a boilerplate event during escrow, but it is very important. The prime question is how you take title.
Taking Title When You Buy
If you are a first time buyer, you are probably wondering what taking title refers to. It is not the act of accepting a piece of paper from the seller. Taking title refers to who is listed on the title and HOW they are listed.