How to Market Expired Listings: A Guide for Real Estate Professionals
In the current volatile market, the task of generating leads is increasingly crucial. Expired listings are an excellent source of potential sellers who were unsuccessful in selling their property earlier and may still be interested in selling it. By developing marketing strategies targeting expired listings, you can achieve success regardless of the market situation. It is essential to identify the most appropriate marketing plan for expired listings to effectively convert leads. A well-planned marketing approach can help establish credibility, build relationships with clients and real estate professionals, and showcase your expertise. Read on to discover ways you can market expired listings successfully.
Why do expired listings matter?
When searching for new business opportunities, expired listings can be a fruitful area to explore. Homeowners who have previously listed their property for sale but were not successful may still have a desire to sell, but were not matched with the right real estate agent. These individuals may be reluctant to seek out another agent or require extra guidance during the selling process. Selling an expired listing in a difficult market can showcase your skills and ability to assist clients, leading to an increase in referrals and a steady stream of potential clients.
How to market to expired listings
When dealing with expired listings, it is crucial for agents to act promptly and straightforwardly. A successful approach involves a well-planned marketing strategy that incorporates both traditional and digital methods. To assist in creating an effective plan, we have compiled five ideas for traditional and digital marketing to target expired listings.
Direct mail
According to several agents, the most effective method to advertise expired listings is by utilizing direct mail and postcards. As email inboxes are already cluttered, potential leads for expired listings are more inclined to peruse a postcard. It is worthwhile to occasionally mail pertinent information regarding your area of expertise to individuals residing in your vicinity. Additionally, a handwritten note adds a personal and thoughtful touch.
Paid ads
To target a specific audience or those whose listings have expired, paid advertisements can be utilized. On platforms like Facebook and Instagram, visually appealing images can be incorporated to attract the attention of potential customers. Although these ads require a monetary investment, they offer the assurance of reaching desired demographics based on factors like age, location, and gender.
Cold calling
Sending emails is considered a more convenient option for individuals to communicate rather than making phone calls to clients. However, to distinguish oneself from others, it is recommended to establish genuine connections with clients through cold calling. A useful strategy is to identify expired listings and approach the property owners. To showcase one’s skills and experience in selling properties, one can refer to our provided examples of scripts.
Use social media
There is an overabundance of information available through social media, and you can use it to your advantage.
Follow potential clients to see the status of their expired listings. Post whenever you close a deal and people will take notice and trust that you have the skills to finally sell their home.
Buy leads
To increase efficiency, purchasing leads can be a viable option. This involves procuring a collection of phone numbers from a service provider to initiate cold calling without delay. Another approach is to collaborate with fellow agents and lease their lists. This could lead to better alignment with certain clients and allow you to lease out your own list in exchange. Such networking can enhance your brand image and yield more high-quality leads.
Give expired listings new life with Havah
Being authentic, posting engaging content, and showing your expertise to potential clients are essential to winning expired listings.
