Real estate agents can manually spend hours mining expired listing leads through the MLS. This approach is expensive in terms of time and can waste your efforts. A drip marketing campaign is a more effective way to nurture expired MLS lead information. These campaigns can include valuable content like neighborhood and market reports, tips for selling homes, and case studies of sold properties.
Writing a Script
One of the best ways to reach expired listing leads is through direct phone or email contact. However, this can be expensive and time-consuming, especially for agents juggling multiple clients simultaneously. To save time and money, agents can use an automated search tool to find expired listings before anyone else does.
This service searches hundreds of online sources to find off-market listing leads, including canceled and withdrawn listings. It also provides accurate contact data, including landline and VOIP phone numbers, DO NOT CALL status, email addresses, and social media links. It even syncs with 3rd party CRMs for added efficiency and effectiveness. The key to effectively contacting expired listing homeowners is understanding their frustrations, worries, and concerns. This will help you craft a powerful sales pitch and position yourself as the solution to their problem.
Homeowners often feel skeptical of real estate agents after a previous agent fails to sell their home, so it’s essential to show them how you can be different from the rest by speaking to their specific needs and desires.
Contacting Expired Listing Owners
While expired listing leads may seem intimidating, they are a valuable lead type. However, you’ll need a solid lead generation strategy to maximize their potential. Start by searching MLS listings that are about to expire. Please make a list of the owners and their contact information. Then, follow up with them a day after the listing expires.
This approach can improve response rates by up to 90%. Expired listing leads are often frustrated sellers who have already worked with multiple agents and are burnt out on the process. Show them that you’re different from their previous agent by preparing a listing presentation that addresses the pain points they experienced (e.g., poor-quality images and untargeted marketing). To reach more expired listings efficiently:
- Consider leveraging a powerful lead generation tool like Chime’s power dialer with built-in but customizable calling scripts and automated lead nurturing tools.
- Learn how you can engage and nurture these leads through calls, emails, and texts to convert them into listings.
- Get started for free.
Using Social Ads
When used correctly, social media presents countless lead-generation opportunities for businesses. Using hyper-specific demographic targeting, marketers can share their sales pitch with the right audience and prompt them to fill out a form asking for contact information. Virtual events and webinars are another great way to generate quality leads, as they can provide valuable information to potential customers while requiring them to submit their email addresses to participate.
Providing free tools is also an excellent method of generating quality leads, as it allows users to try out your product or service without risking their credit card details. Finally, leveraging referral campaigns is another effective way to generate leads. Creating an ad campaign with a link to your website or landing page is a great way to collect lead information, and you can even use retargeting ads to reengage the audience once they have left your site.
Sending a Letter
While email and phone calls effectively contact expired listing leads, sending a letter may have more impact. When a homeowner receives a personalized, detailed letter from you, they are more likely to respond and schedule an appointment. You can show them how to market and sell their property quickly during this appointment.
In addition to your letter, consider using a drip marketing strategy. This includes automated emails that are sent to your contacts regularly. These emails should offer value to your contacts, including market reports, seasonal greetings, helpful tips, and “just sold” properties. Lastly, you can use text messaging to follow up with your leads.
However, make sure you only contact listing leads with permission to do so. Sending a text message to someone without their consent can violate privacy laws and cause you to be blocked on online complaint directories. To avoid these risks, you should use a CRM like LionDesk to automate your expired listing lead text messages. This will ensure that you only contact listing leads with whom you have consent and are in compliance with all relevant laws.
Creating a Presentation
Whether you’re an entrepreneur pitching to investors or a student presenting at a conference, a professional-looking presentation is vital for sharing your work and gaining credibility. But creating a powerful presentation takes more than just great design and compelling content—you need to be ready for any potential issues. Expired listings can be a valuable source of business for real estate agents, but it’s essential to be prepared for any issues that could arise. With a little effort, you can effectively connect with expired listing homeowners, build rapport, and convert them into listing clients.