BrokerBryant.com: Is Your Expired Listing Letter Working?

Is Your Expired Listing Letter Working?

Tutas Towne Realty, Inc

If not, then maybe it's because they read like every other letter out there. You know what I mean. "We Market your house on 500 websites", "Our CMA is the best" and blah blah blah. There is no value proposition at all. They are not addressing the expired listing Seller's biggest concerns.

  1. Lack of communication
  2. Locked into a long listing agreement
  3. Can't cancel without paying a fee
  4. Never heard from my agent

If you want to have success working expired listings then you have to remember that the only reason you are contacting them is to get them to contact you. That's it. You want them to call or email you.

ALL expired listing Sellers have the same concerns that I listed above. I have NEVER, not once, had a Seller tell me their listing didn't sell due to pricing and rarely do they mention marketing. But they ALWAYS mention the agent's lack of communication. And of course we all know that the agent didn't contact them because they took an overpriced listing and didn't have any showings to call the sellers about.

The agent took the overpriced listing because they don't know how to sell Sellers on pricing. It's not the Seller's fault. It's not because the Seller made a bad decision. So quit telling then they did!

Sellers want to know what you are going to do different for them.  ALL agents pitch marketing and CMAs.

I don't. I pitch 4 main things:

  1. I will answer my phone when you call from 8am to 7 pm 6 days a week OR I will return your call within 1 hour guaranteed. Try it!! And they do. They will leave me a message telling me I have 60 minutes to return their call.
  2. 45 day listing agreement
  3. Fire me anytime
  4. Minimum once a week updates

And it just happens that these four value propositions line up perfectly with the Seller's four main complaints.

Build your letters around their common complaints and your letters will work. Save the marketing strategies and CMA until you are face to face.  Make the phone ring. Pitch your wares later. Its simple.

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Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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17 commentsBryant Tutas • June 29 2011 05:20PM

Comments

Communication certainly is key, but let me ask you a question...when you take a 45 day listing do you also get them to price very aggressively?

Posted by Jayne Esposito (Coldwell Banker-Los Gatos) over 3 years ago

Bryant,

If your form letter looks kike a form letter except a standardized "NO!"

If people want to be treated like numbers they can call the government, the power company, or the phone company.

It doesn't matter what you pitch until the people believe you care abut them! You're just another marketing gorilla!

Bill

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) over 3 years ago

BB, Lack of communication is key to failed business relationships...personal ones as well! Enjoyed the read!

Posted by Wanda Kubat-Nerdin, Your Preferred St. George Area Real Estate Agent. (Prado & Kramer Real Estate, St. George, UT 84770) over 3 years ago

I live and I  learn and I learned to  four points to emphasize today

Posted by Maya Swamy, Ph.D. Long Beach, CA - fundsavailable.com (Funds Available) over 3 years ago

Bryant- I agree that lack of communication has to be the number one thing most seller's are not happy about.  While I don't always find that a one hour window for a call back is practical--I sometimes take up to two hours on a full blown listing appointment, and I don't like to pick up my phone when I'm with a client if I can help it--most sellers would be more than happy if you could promise and fulfill a 3 hour window for a call back.  Your other points are also spot on....

Posted by Lisa Orme, Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu (The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY) over 3 years ago

Lisa, Try this "Mr Seller I will always return your call within an hour unless I happen to be in a listing appointment like we are now. If thats the case I want to be sure they are getting my full attention, as you are, so I may not be able to call back within the hour. But you will hear from me quickly." 

And of course all lmarkets are different. You have to listen to what folks in your market want and then prepare your expired letter or other marketing accordingly. You want to hit on their hot buttons so they have a reason to call.

Posted by Bryant Tutas, Broker/REALTOR, Tutas Towne Realty, Inc (Bryant Tutas-Tutas Towne Realty, Inc) over 3 years ago

Answering your phone is key! We have been known to leap over tables to get to the phone and Dick answered his cell on Space Mountain, but that is another story!

Posted by Dick and Dixie Sells, Realtors, Tampa Bay Florida Homes For Sale (Sells Real Estate, LLC) over 3 years ago

BB

No doubt the sellers are concerned about these issues from the get go. Communication seems to be the one issue we hear about all the time. And don't we see articles all the time from agents complaining about this very issue, too?

Jeff

Posted by Jeff Dowler CRS, Carlsbad CA Homes for Sale (760) 840-1360 (Solutions Real Estate ) over 3 years ago

I've never worked expireds, but we are thinking about it for more short sale listings.  Do you have a special tactic for short sale listings or homes that are expired (whethere they were short sales in the previous listing) that are on a default list? 

Posted by Kasey & John Boles - Jon Gosche Real Estate, Boise, Meridian, Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, Boise ID) over 3 years ago

Hi John. I have actually slacked off some on my expired listings and other mailers. Just been too darn busy!!

However for distressed property owners you want to harp on making their problem go away. Don't dwell on the fact that they are in distress. They know they are behind on mpayments. They don't need an agent telling them so. What they need is someone with solutions. And give them a confidential way to connect with you and/or get information. A 1-800 hotline with a recorded message and a call capture will work well.

Posted by Bryant Tutas, Broker/REALTOR, Tutas Towne Realty, Inc (Bryant Tutas-Tutas Towne Realty, Inc) over 3 years ago

I have read your letter many times - thank you - and have created a version for myself.  I do think all of the points you list are something I would rate as very high (if I were a seller).  Most folks here in our area get a 6 month listing.  I wouldn't do 45 days - a bit too short but certainly a shorter timespan is key.

Thank you for always sharing what works for you.

Posted by Judy Cicalese, William Raveis Sales Associate 203-638-7812 (William Raveis Real Estate) over 3 years ago

Just catching up with your recent posts. I just sent out a couple of friendly FSBO letters to some addresses where I'd seen signs posted.

Now, I'm adopting your expireds letter and daily strategy...can't wait to see if it pulls in some business. I'm still in my rookie season, so any business is good business!

Posted by Deb McNeill, Fort Worth Real Estate (Flying M Team Small World Realty Fort Worth, Tx) over 3 years ago

Good luck Deb!!!

Posted by Bryant Tutas, Broker/REALTOR, Tutas Towne Realty, Inc (Bryant Tutas-Tutas Towne Realty, Inc) over 3 years ago

Bryant

 

Could you PM a copy of your expired lisitngs letter?

 

Thanks,
Jeff

Posted by Jeffrey Friel, OmahaSoldHomes.com - 517-1614 (Keller Williams Greater Omaha) about 3 years ago

Ok, a couple of things i am learning from these posts - communicate, provide feedback to sellers and there are very few problems with properties the the correct price will not solve.

Posted by Laura Murray, Search Montgomery Co., MD for homes www.MDRealEstateOnline.com (Weichert) over 2 years ago

Byant, doing a little reseach on leave behinds for expireds. Love what I learned here.

 

Posted by A List Properties -San Diego Neighborhood Experts from Beaches to the Mountains, A List Properties - San Diego Neighborhood Experts (www.WhereToBuyInSanDiego.com 619.316.7445) about 2 years ago

Makes perfect sense to me. I like the 45 day listing idea.

Posted by Mike Baltierra, Full Service at Your Service Realtor-Corona CA (Real Estate eBroker, Corona, California) 6 months ago

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