MLS listings and expired listings can raise your real estate profits.
Want to know a secret to staying ahead of the pack? The article below says it’s all about expired listings and MLS listings, multiple listing service listings. Read the article below to find out why expired listings and MLS listing can up your profits.
Expired listings marketing is a strategy used by realtors and investors to locate potential real estate opportunities. Expired listings result when contracts expire between realtors and buyers. In order to capitalize on expired listings, real estate professionals must have access to the multiple service listing (MLS) database.
Creating expired listings marketing strategies is vital for. In order to attract clients, investors must understand the mindset of sellers. When realty contracts expire, homeowners are usually anxious and stressed out because their property has gone unsold.
In today’s market, attracting qualified buyers is challenging. However, property owners needing to sell their house fast to prevent foreclosure or relocate want results, not excuses. Investors must establish marketing plans that place “sold” signs in front of homes.
Expired listings real estate is a competitive market. Investors will compete for business with multiple realtors. In order to stay ahead of the pack, investors must frequently review MLS listings and take quick action when promising properties are found.
Homeowners need reassurance that the next realty professional can provide results. They need to know investors understand their concerns and possess the ability to solve their home selling quandary.
The biggest mistake investors can make is to focus on past successes within marketing materials. While achievements can be highlighted they should not be the primary focus. Instead, focus on addressing fears and concerns to connect with clients on an emotional level. Property owners want to know how investors plan to sell their property when their realtor was unable to accomplish the task.
Expired listings marketing materials should include an overview of strategies investors use to successfully compete in today’s market. Most sellers realize they are competing with discounted bank owned foreclosure and short sale properties. Buyers can choose from an abundance of cheap homes for sale; making it difficult to locate buyers willing to pay full price.
A prevalent reason realty listings expire is price. Oftentimes, sellers cannot afford to reduce their asking price because they need the full amount to pay off their mortgage. Investors should become knowledgeable about creative financing techniques and promote strategies within their marketing brochures.
Common creative financing strategies include: lease purchase option agreements, seller carry back trust deeds, 1031 exchanges, and subject to transactions.
Investors should develop multiple marketing pieces which build upon the last. For instance, investors would send out an initial expired listings letter to introduce the company and summarize available services.
Within two days, an expired listings postcard is sent offering a complimentary 30-minute consultation to discuss the seller’s needs. Next, they would send a follow-up brochure which includes additional details of services, along with frequently asked questions. Finally, a follow-up phone call is made to close the deal.
Investors unable to create professional looking marketing materials should consider hiring a marketing firm which specializes in real estate. Professional copywriters and graphic designers are trained in consumer marketing psychology. The right words, colors and photos help investors gain client trust.
Investors entering into this niche must thoroughly understand the process and deliver on promises made. Those who learn the process and develop a solid expired listings marketing plan and professional marketing materials can achieve abundant success.
Article by Simon Volkov
Real estate investor, Simon Volkov, shares insights to help investors develop strong expired listings marketing plans. Learn how to tap into this profitable real estate niche at www.SimonVolkov.com.