An expired listing letter can be an invaluable resource for real estate investors. Expired listings refer to real estate contracts between realtors and sellers which are no longer in effect. Most realty contracts last between six months and one year. When properties are not sold during the listing period, sellers can enter into a new agreement with their current real estate agent, a new realtor, list the property as for sale by owner, or take it off the market.
Investors often send an expired listing letter to sellers whose contracts have expired when they want to purchase their property. Real estate investors can find expired realty listings by searching MLS records. Multiple Listings Service provides lists of nationwide properties for sale to licensed realty professionals.
A variety of expired listing letter samples can be obtained online. It should be noted the key word is ‘sample.’ Real estate investors will need to adapt listing letters to accommodate circumstances. One of the best resources for learning how to utilize expired listing marketing concepts is through real estate clubs and investment forums.
Successful investors implement multiple marketing strategies to locate investment properties. In addition to harnessing the power of expired listing letters, investors should also utilize direct mail campaigns, postcard marketing, word-of-mouth referrals, real estate flyers and cold calling.
Expired listing letters are typically used to solicit sellers, but investors sometimes use this strategy to contact realtors and negotiate a sale from their expired listing. This method allows investors to earn profits by closing the sale while real estate agents do most of the work. Using expired listings to generate leads can be a profitable niche for investors willing to develop long-term working relationships with realtors.
It can be beneficial for investors to hire a copywriter or marketing company to develop real estate marketing materials. Investors often utilize a variety of expired listing prospecting tools. Regardless of the types of marketing strategies used, the primary goal is to locate motivated sellers; purchase properties below market value; and earn profit by closing expired listing transactions.
In today’s real estate market, investors need to stay on top of changing trends and engage in marketing strategies that allow them to stand apart from the crowd. When real estate listings expire, sellers are often engulfed with letters from realtors and investors. This is where being unique really pays off.
Investors who focus on expired listings generally work with sellers who are dissatisfied their property did not sell during the contract period. The last thing they want to hear is empty promises. They want to sell their home and walk away with money in their pocket.
Investors capable of solving problems will earn sellers business. When creating real estate marketing materials it is imperative to focus on the seller’s needs, not the accolades of the investment business being promoted.
Real estate investing is a highly competitive field. In order to achieve success, investors need to possess commitment, patience, solid marketing plans, a network of real estate experts, and the ability to locate motivated buyers and sellers and close real estate deals.