BrokerBryant.com: Working Expired Listings The Easy Way!

Working Expired Listings The Easy Way!

Florida realtor opportunities
Hi there,

So… you want to take some listings?

In my opinion, there is no better way to get properties to sell than by soliciting expired listings. These listings expired mainly because of pricing. It was too high.

These Sellers have already decided to sell and they have already decided to use an agent. It can’t get any better than that.

Now all you have to do is get them to contact you. There are many different programs out there on how to work expired listings. Some suggest knocking on their door. Some have a system in place where you mail out numerous marketing materials staggered over a few months period. Some want you to call them.

My guess is that ALL of these programs will work if you follow their plan. But for me? I’m just too lazy to do this much work. I’m also too busy. So I have a very simple system that works for me. I keep it simple so I’ll do it. I don’t want a system that takes up too much of my time. So……..

I mail one letter. Every day. To every expired listing. With no exceptions. I have been doing that for 14 years. I usually get a couple a listings a month out of it. But you have to commit to it and be consistent.

Remember, the one day you miss is the day you would of hit a hot listing. So just like any marketing plan you have to stick to it. Don’t over think it. Just do it.

I do not personalize the letter but do hand write the envelope with the owner’s name. Whether they are owner occupants or absentee owners they get the same letter. I look them up in the tax records to make sure they are going to the right place. Sometimes if I am slow I will sit down and stuff a 100 or so envelopes so all I have to do is write an address and stick them in the mail.

This letter works for me but obviously modify to fit your own personality. I believe in short sweet and simple. It should be one page but the largest print that will fit. I think I use 12 or 14 font.

***Consistency is key!

Have you mailed to expired listing before and it didn’t work? If so, 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. The letter did not address 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.

 

SAMPLE LETTER

 

Greetings!

IF YOU ARE READING THIS LETTER THEN YOUR REALTOR HAS NOT SOLD YOUR HOME.

My name is Bryant Tutas and I am the Broker and Owner of Tutas Towne Realty, Inc. I have noticed that your house was recently taken off the market so I am writing to see if you still have an interest in selling.

I welcome the opportunity to meet with you to go over your Real Estate needs and update you on current market conditions in Poinciana. Together we can devise a plan that will get your home sold.

In this more difficult market you need a Realtor experienced in your area who will get your home sold for full market value in a reasonable amount of time. I will offer you my 15 years of experience selling homes in Poinciana and an unconditional 45 day listing agreement that you can cancel at anytime with no fees to you. I get paid when you get paid. At closing.

I promise to talk to you personally during the listing period at least twice a week with updates. I promise to answer my phone when you call or return your call within 30 minutes Mon-Sun 8am-8pm. Try it! 555-555-2222.

Also check out my web site at www.CentralFloridaShortSales.com.

Folks, if you are serious about selling your home then give me a call today and start packing! I look forward to hearing from you.

Sincerely,



Bryant Tutas, GRI

Broker/Owner

EM: BrokerBryant@gmail.com

 

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Comment balloon 40 commentsBryant Tutas • December 11 2011 12:15PM

Comments

Thanks for the great post Bryant!  I'm going to try this ;)

 

Posted by Christine McDaniel, Broker Associate (Coldwell Banker Residential Brokerage Porter Co.) over 7 years ago

Bryant, excellent post. I am realizing that I have not been focused. I have not been consistent and persistent in doing what you are suggesting. One of my resolutions is to do as you suggest. Thanks.

Cal

Posted by Cal Yoder, Homes For Sale in Lancaster PA - 717.413.0744 (Keller Williams Elite) over 7 years ago

Curious. Do you update by phone or email? Sorry forget that, re-read and saw you call. What do you say when there is nothing to say? Our market time is a year, even for well priced homes, calling every week might get very toresome for the seller?

Posted by Corinne Guest, Barrington Lifestyles (Corinne Guest, Realtor | Barrington Realty Company) over 7 years ago

This is a great post. Everyone talks about door knoocking expireds but few actually do it and knocking on a door and already knowing the answeres to the owners questios is great. Fish in a barral so to speak. Good job. Thank yo uso much for posting this.

Posted by Bob Davis (Right Move Real Estate) over 7 years ago

It's been awhile since I worked the expireds. I was very successful in the past but got busy and lazy and stopped.  Nows the perfect time too.  Thanks for sharing.

Posted by Ross Therrien, Realtor, Broker Associate (Prudential Verani Realty, Londonderry,New Hampshire) over 7 years ago

BB, Thanks for the information...going to bookmark and try your methods and see what kind of results come about. Thr best to you and TLW!

Posted by Wanda Kubat-Nerdin - Wanda Can!, So Utah Residential, Referral & Relocation REALTOR (Prado Real Estate South) over 7 years ago

Corinne. I update my sellers by phone, email and several different auto updates. Yes it can be difficult when a listing drags out but the reality is they are paying us thousands of dollars to sell thier property. The very least we can do is update them weekly. Unless of course the seller prefers we don't. And it doesn't have to be an update on their property. It could just be a general market update. The point is..they need to hear from you often.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) over 7 years ago

Brain - Thank you for sharing detailed quality information on working the expired listing the easy way.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) over 7 years ago

Brian,

Great post. I think the most important point you touched on is "consistency". That is the key to the success you have had working expired listings.

Posted by Nicole Needham, SFR (530) 302-5478 (Needham Realty) over 7 years ago

Bryant,

Well done! An approach doesn’t have to be a world beater if done consistently.

Posted by David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation, Relocation, Luxury & Lifestyle residential (Colorado Real Estate Advisers LLC ) over 7 years ago

Hi Broker Bryant. Thanks for your insight and tips on going after expired listings. I plan to add this to my lead generating activity for 2012.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) over 7 years ago

Hmmm....I got this from you last year, I think. I need to tweak it abit. There aren't 100 expired listings in my area in a week. Hmmm.....thinking...this is something that I will re-incorporate into my expired prospecting program...

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) over 7 years ago

Bryant ~ Thanks for the details. I have tried before and let other agents opinions get me off track. I'm curious if you keep any record of who you sent the letters to, however, I'm thinking ... to keep it simple... not likely. Thanks again.

Posted by Diane M. Phillips Realtor 443-286-4365, Specializing in Carroll Co., MD (Frankly Real Estate Inc.) over 7 years ago

That's a GREAT letter, BB. I love it. I have no idea how you do it, except that in knowing you, I know you keep your word and you do DO IT. There are times I am with a client for 90 minutes, so I could not possibly promise to return all calls in 30 or 60 minutes. But I could do 90 minutes, hahahha.

Posted by Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) over 7 years ago

Bryant,

Thanks for the update, one last question. You do a 45 day agreement. Would you change that at all if the market time is a lot longer and the prices higher. I know your median price is about 20% of mine, maybe even lower. Everyone here does 6 or 12 month listing agreements, the argument being give me time to recoup my advertising costs. (Or the corporate directive maybe). Seems to me this program could wipe the slate clean on expireds.

Lastly and only because I know your area, lived in Palm Beach near Katerina for a yearin 2003 and also vacationed in Poinciana in 2002, do you cover a wider area with your expired program or stick to you area? I checked our expireds for the last 30 days in my zip and there were 33. 5 of those are above $3 million and might not even get a showing in 45 days. ( Not likely to go after those )

Thanks for your input, I nearly started this last year, and like many procrastinated and now here we are again!

Thanks in advance for your time.

Feel free to reply to info@corinneguest.com 

Posted by Corinne Guest, Barrington Lifestyles (Corinne Guest, Realtor | Barrington Realty Company) over 7 years ago

Corinne. The 45 day listing agreement is a strong marketing tool.  The entire pitch is " I don't need more than 45 days to win your business" Here's the rest.....

http://activerain.com/blogsview/6251/45-days-listing-agreements-weak-i-don-t-think-so-

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) over 7 years ago

I am going to implement this as well with a couple of other 2012 actions. I guess even if they re-list before my letter arrives with the same agent the postage is not wasted!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) over 7 years ago

Bryant - this is great.  thank you for sharing.  One question - just to confirm - do you only send one letter to each expired?  Or is it a campaign?  Am I reading too much into this? Or is it truly a "One and done".  I think your sample letter hits all of the expired seller's concerns.  Thanks for sharing!

Posted by Kimberly Tapscott, Giving you the service you deserve! (Keller Williams Prestige Properties) over 7 years ago

Kimberly. I'm lazy. One and done.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) over 7 years ago

On average, how many do you send out per day?

Posted by Justin Dibbs, REALTOR® - Ashburn Virginia Homes for Sale (Pearson Smith Realty) over 7 years ago

Love it! I am in and will add this to my plan. I like the one and done.

Posted by Paula Bradfield, Your Salida Colorado area Realtor Team (Bradfield Ramsey Group) over 7 years ago

Bryant, thanks for sharing this post, and your letter.  You prove that consistency and preserverace are the key :)

Posted by Gwen Kelly, Long Beach, CA Real Estate (Broadmoor Realty, Inc) over 7 years ago

Bryant, thanks for the perspective and the great information, extremely useful.

Posted by Rachell Lara & A List Properties, A List Properties - San Diego Neighborhood Experts (eXp Realty / 619.316.7445) over 6 years ago

Bryant,

 

Thanks for the great letter.  I willtry it,

Posted by Ray Stockwell, Director of Product Marketing ZipperAgent (ZipperAgent) over 6 years ago

Great articule!  I especially like you noting that it's not the seller's fault.  We, as agents, need to get better at helping sellers self-discover what an accurate price to list at should be.

Posted by Beverly Fast Sinclair (Keller Williams Realty) over 6 years ago

Definitely my top priority for 2013.  Great sample letter, thanks for sharing -- bookmarked!

Posted by Kerry Lucasse, Your Nest Atlanta Real Estate Consultant (eXp Realty - Nest Atlanta Team) over 6 years ago

This is a perfect plan, thank you so much for sharing.  I've been testing a searching for a plan that works and is SIMPLE.  Like you, I prefer letters, and I'm too busy.  But I also believe in consistency.  THANK YOU!

Posted by Ruth Lerner (William Raveis Real Estate) over 6 years ago

I am excited to try this! Thanks for the info!

Posted by Jakob Kembi (Sutton West Coast Realty) over 6 years ago

Thanks for sharing great information

Posted by Carole Webb, " Selling Prince George's County " (Fairfax Realty Greenbelt) over 6 years ago

Great info brother! Hand-writing the envelopes definitely gives your letters a more personal touch & doesn't scream 'junk mail'. I'm still pretty new to the real estate gig and expired listings have a lot of potential from what I've been reading on AR. For an introvert like myself who has a way with words the direct mail campaign seems like its highly effective if you take a pragmatic approach to it.

Curious to know two things: One letter a day for every expired listing? Wow, how many owners do you keep in rotation on average? Sounds a bit excessive & time consuming if you're chasing twenty leads at time if you ask me, but would love to be proven wrong. Also, what kind of information are you sharing in your follow up letters? Feel like I'd run out of stuff to talk about after the first week of letters. Lemmie know, your advice is appreciated. -=JB=-

Posted by Jake Bodnar (Arizona Housing Experts) about 6 years ago

Hi Jake. I only send the one letter one time. I don't follow up as I'm just playing the numbers.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 6 years ago

Very good info!  I have a system in place as well but, will be adding a few of your suggestions! 

Posted by Virginia Bellhorn about 6 years ago

Thanks for the tips!  I am a realtively new agent looking for a way to work expired listing that works.  I like the comprehensiveness of this letter.  I am currently doing something similar, but spread out over multiple mailings.

 

Posted by Stephanie Joines, Professional Commitment, Personal Solutions (BHHS Florida Properties Group) almost 6 years ago

This is a great plan and I appreciate you sharing the letter. I plan to implement right away :-)

Posted by Lara O'Keefe (North Texas Home Finders) over 5 years ago

Hello Bryant,

This does appear the easy way to work expired listing. Thanks for the tip, I plan to implement immediately. I currently work expired listing, but have not received any listing. Most programs suggest following up with five letters at the very least.

Posted by Gregory Boxie (RE/MAX Top Realty) over 5 years ago

This is a great article. Thank you for the ideas, Bryant. I was a subscriber to Brian Buffini for a long time but the referral approach needs to be coupled with other strategies, i.e. marketing to people who are actually in the market to buy or sell. I'll be marketing to expireds starting this week and I've been doing a lot of research as to how to do it best. Your post really helped me figure out how to differentiate myself. 

Posted by Manoj Philip (BHHS, Fox & Roach, Realtors) over 4 years ago

Bryant, this post is 4+ years old and still getting mileage! I rarely work expired listings, but after reading your letter, I may just add it to my repertoire. Thank you for sharing! Hope you are doing well. :)

Posted by Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell (Front Gate Real Estate) over 3 years ago

Bryant, thanks for sharing. Are you still using the same strategy on expireds? How is it going for you? I would love to implement this and just wanted to know if you have made any changes and see if it's still working for you.

Thank you.

Posted by Filomena M. Thompson, Realtor, ABR, CIPS, MRP, PSA, SRS, SRES (REMAX Above The Beach) almost 3 years ago

Thanks Bryant!  The best description of the Sellers' frustration I've read.

I'm going to try your method.  Starting...Right Now

All the best, I'll let you know the results!

Christina Steinhaus

Posted by Christina Steinhaus, Real Estate Agent serving the Palm Beaches (Coldwell Banker Residential Property) almost 3 years ago

Hey Bryant- Are you still working with expired's? Have you changed anything over the past few years?  I like the simplicity of your program!   thanks for sharing!

Posted by Stephen Arnold, CRS, GRI, SFR (HomeSmart Elite Group) over 2 years ago

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