BrokerBryant.com: Must You List Properties To Profit From An Expired Listings Campaign?

Must You List Properties To Profit From An Expired Listings Campaign?

FLORIDA REALTOR NETWORK


I don't think so. Recently I received the following email from an agent asking about my expired listing letter.


Broker Bryant,


Thanks so much for posting that Expired Listing letter. I've already started using it!


Would you mind telling me about how many of these you send out in a day, week, or month? You mentioned that you get about 2 listings per month from it so I want to mimic what you are doing. If you are sending a lot I may need to expand my market area.


Also, any other tips would of course be appreciated! =)


Help Me Please


Dear Help Me Please,


You can count on about a 2-3% return based on the amount of letters you send out. I have also found that some folks call me months and even years after having received one of my mailers. The key is to just keep doing it. You may not get anything for a few months and then all of a sudden you get several listings in one week.


And use this time to really study the MLS. Whenever I'm looking at the MLS hot sheet for expired listings I always check the new active, sold and pending listings as well. After doing this daily, forever, you will start seeing trends that will help you in your business.


You will see what's selling and who is buying.


I'm also always looking for deals that I can send to my investors or a property that may meet what a buyer I spoke with is looking for.


So...mailing out expired listing letters is not only about getting listings. It's about broadening your Market knowledge and matching up buyers and properties.


If you approach your expired listings campaign this way then you won’t get discouraged when you don't see an immediate response to your mailers.


Positive action will create positive results.


Make cents?


SAMPLE EXPIRED LISTINGS LETTER

 

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 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, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Comment balloon 50 commentsBryant Tutas • February 27 2012 04:04AM

Comments

BB, that is an awesome expired letter. Tweaking it for our own uses, for our own areas, but the concept is fantastic. The issue is pricing, most of the expired listings here were overpriced. And that seems to be THE HARDEST thing to overcome.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 6 years ago

Very helful info, thanks.

Posted by Richard and Jean Murphy, (207) 712-4796 (Harborview Properties) over 6 years ago

Great blog and great job. Keep up the good work and good luck to you this year. Thanks

Posted by JOSH EVANS *JoshEvansHomes 516-655-5000 (Village Properties of Mineola, LLC) over 6 years ago

Thanks for sharing, Bryant!  I'm actually trying to focus a portion of my business directly on expired listings, so it was great to read your post!  Have a great day!

Posted by Gary Wolyn (Keller Williams Realty) over 6 years ago

In this business we need to think long term. Thanks for the post!

Posted by Doug Rogers, Your Alexandria Louisiana Agent (Bayou Properties) over 6 years ago
The key is consistency and most, don't have that patience. Just like studying local trends/ reports, eventually it shows you a pattern.
Posted by Loreena and Michael Yeo, Real Estate Agents (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.) over 6 years ago

Hi Bryant, this is a great letter and I like the style in the way you use it: only once, can be stuffed and ready to go, etc.

Posted by Sandy Acevedo, RE/MAX Masters, Inland Empire Homes for Sale (951-290-8588) over 6 years ago

That on the agenda going forward in March.  I'm going to pre-print a bunch and stuff them as you suggetested so they're ready to go.

Posted by Justin Dibbs, REALTOR® - Ashburn Virginia Homes for Sale (Pearson Smith Realty) over 6 years ago

Do I get a referral? :)

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

EXACTLY:) Expired listings also lead to great referrals. We will get calls from our expired letter who say they don't want to cancel with their agent but they have a neighbor who needs to list and they refer that neighbor to us. Also, some take their homes off the market and pass along our brochure to a neighbor or friend and on and on so it goes...:)

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) over 6 years ago

Bryan:

Going to give it a try, what can it hurt.  If no immediate action maybe like Nestor & Katerine - it may lead to a referral.

Posted by Bob Force (REALTOR®), The FORCE in Maryland Real Estate (Weichert Realtor - New Colony) over 6 years ago

Excellent points, Bryant.  Building name recognition is an important part of future opportunities.  Good advice!

Posted by Mike Cooper, Your Winchester, VA Real Estate Sales Pro (Cornerstone Business Group Inc) over 6 years ago

Great share Bryant... I work with agents all the time (for years) and even in other markets in different times there are always expired listings. Those that stick with it will get listings and referrals, I'm witness to that. I like your approach and your letter is right on.

Posted by Rene Fabre, Marketing in the Digital Age (First American Title) over 6 years ago

This is an interesting way to go after expireds. 

I send out a bunch of info, with a customized letter and customized market info, and I haven't been lucky with this approach.  Perhaps the way to go is simple.  I love your approach - the letter is short and sweet and it's easy enough to throw it in an envelope.  Thanks for posting!

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) over 6 years ago

It's simple and to the point.  No fluff. That's what I like about it.

Posted by Charita Cadenhead, Serving Jefferson and Shelby Counties (Alabama) (Keller Williams Realty) over 6 years ago

BB - Do you evaluate who you send the letters to like how many times been listed, how long, whether is a short sale, whether way overpriced? Sign me...Just curious!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) over 6 years ago
Broker Bryant, can I say I love the letter and used it ...until that one day when I took a break. Boom...and expired that would have gotten the letter came on the market. Ugggggh. I'm back on the wagon. Thanks you for sharing!
Posted by Kimberly Tapscott, Giving you the service you deserve! (Keller Williams Prestige Properties) over 6 years ago

You are a good man and a good broker.. .If someone is not subscribed to your blog., .they  are missing out! 

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) over 6 years ago

I like the letter.  Even though many homes don't sell because they are overpriced, I can sense the frustration that many people have with their realtor not keeping in touch with them.

 

Posted by Jennifer Spanbauer Brodoway, just call jen (Lethbridge Real Estate.com) over 6 years ago

Gary. I just hit them all. Not only am I too lazy to sort through them but I truly believe there is no way to try and figure out who wil list and who won't. No need to complicate things.

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

Bryant, do you only send the letter once to each expired? Nothing more ever?

Posted by Maria Morton, Kansas City Real Estate 816-560-3758 (Chartwell Kansas City Realty) over 6 years ago

Broker Bryant,

Good simple strategy.  I don't do a lot of mailing but I plan to do some in my market area.  Thanks ad\nd best of success to you this year!

Posted by Jordon Wheeler, J W Group Real Estate Sales and Service (The Jordon Wheeler Group) over 6 years ago

Bryant's letter is great, simple and to the point. In many markets it will work, in some others it will not work. If people already know you in your area, if they have heard of you, if you have an ad in your local paper or have press releases about you, this simple letter is all you need. It works for the low end to middle income properties. This letter does not work in high end markets. We send out a 6 to 7 page letter that is for just luxury market properties. We do have a very high end brochure and business card in that envelope too. 

But if what you are doing is NOT working, it is because your letters are not WIIFM letters. If you are showing off about you and especially if you are showing off your Re/Max, KW or Coldwell, etc.... that will turn off the sellers really fast. Don't push your branded company. The seller does not care how many houses your brand sells, they care that their house gets sold. 

Kat- from what you said in your comment it sounds like you are sending out typical real estate marketing stuff- they just throw that away. That is about you, not them. Simplify and speak only about what they are going through. It works. 

We are also lazy or just don't see the point in tracking. The only time the seller goes into our database is after they call us, then whether or not they re-list with us, we put them into the contact data base. We also don't recommend buying all those expensive expired programs that look up the expireds. You pay for your MLS, use your MLS. It is all you need.

Bryant- Hope you don't mind my chiming in here. Katerina 

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) over 6 years ago

Oh, one other thing, if you don't commit to sending out your expired letters for at least one year, don't even start. You have to give this time. As BB says, some of these people call you a year later, months later. We listed a house for $1.6 Million from an expired letter that we just got an offer on. We are the only agents who ever got them an offer. They had it listed before for 3 years. They called us 3 years ago, did not list, then they called us a few months back and now we are pending a sale on this listing and we are double-ending it. 

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) over 6 years ago

I like the point that there are other indirect benefits from your Expired Project.

Posted by Cheryl Ritchie, Southern Maryland 301-980-7566 (RE/MAX Leading Edge www.GoldenResults.com) over 6 years ago

Katerina is right that you have to design your mailer for YOUR market. My letter came form listening to what sellers needed in my market. I addressed their biggest complaints in my short sweet letter.

Remember that any advertising or mailers for getting buisness is about one thing...getting the future customer/client to contact you. Your ad or mailer is not the place to sell your services. It's the place to address their needs and give them a call to action.

One more time. Repeat after me:

  1. Get them to contact you
  2. Make the appointment
  3. Build trust
  4. Pitch your wares
  5. Close the deal.

If you are doing number 4 in your ads or mailers by telling them how great you are and all about your marketing plan then you are out of sequence.

Building trust is the only one that can be done earlier in the process. That's one of the reasons we blog.

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

Thanks for this Bryant. I will be taking a look through your example letter!

Posted by Michael Collins, CDPE, SFR , Wisconsin Short Sale Specialist Realto (*ROCK REALTY|Broker|Realtor|Real Estate|WI Short Sale Agent*) over 6 years ago

Great Blog Bryant!  Wow!  An agent really helping other agents with real, effective, tangible info and tools!!  You are a superstar!!

Posted by John Smith, Certified Mortgage Planner ("The MORTGAGE SMITH" - New American Mortgage) over 6 years ago

Thanks for the tips.  One thing for sure is there will always be expireds!

Posted by Nancy Strabel (Keller Williams Realty Consultants) over 6 years ago

Bryant, thanks for the sample letter. Great post and comments. I'll take another look at my marketing materials and make sure I don't have anything on #4. There's always room for improvement.

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) over 6 years ago

Your comment about the expertise you can build by watching the hot sheet is an excellent point.

Posted by Jeanne Dufort, Madison and Lake Oconee GA (Coldwell Banker Lake Country) over 6 years ago

Very well thought out Bryant. The art of closing by not selling.

Posted by Jack Snyder, Loan Officer, San Clemente, Orange County, Califor (Loan Officer in Orange County for Omni-Fund Inc.) over 6 years ago

Thanks for giving us the sample letter :)

Posted by Terry McCarley, REALTOR, SRES, CDPE - Cape Coral, FL (REMAX Realty Team - Cape Coral FL) over 6 years ago

Bryant, thanks for sharing. When I got into real estate 5 years ago, I thought top producers would not share their secrets of success, but I have found just the opposite. They don't hesitate to share and help others. 

Posted by Ann Cordes, Home Ownership is Not a Distant Dream (Century 21 Randall Morris and Associates, Waco) over 6 years ago

I have had sellers decide to stick with their previous agent to sell their home, but used me to buy their next home as a result of expired letters.  Thanks for sharing!

Posted by Jim Paulson, Owner,Broker (Progressive Realty (Boise Idaho) www.Progressive-Realty.info) over 6 years ago

There you go again, BB, selflessly sharing priceless information with all of us on AR. MUCH appreciated!

Posted by Cynthia Larsen, Independent Broker Serving Sonoma County, CA (Safe Haven Realty) over 6 years ago

I've done this before, just need to get back in the hang of it again.... Thanks for the reminder!

Posted by The Derrick Team - Indy Metro Realtors, Your Pet Friendly Realtors (Carpenter Realtors) over 6 years ago

Thanks for sharing this.  I haven't tried this before.  But there are a lot of expireds, so it's something I might think on.  Thanks for sharing the sample.

Posted by Emilie Greenwell (ALLEN REALTORS) over 6 years ago

This is great advice. Building your name is always important. Thank you so much for sharing your expired letter, it's really good!

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) over 6 years ago

BB - Consistency is the key.  I think that's where many of us fall down on our marketing.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) over 6 years ago

Great post! This is one area that I have continually heard is so important in real estate.

Posted by Charles Walk over 6 years ago

Great Letter.  I will give it a try.  Also you are right about just learning about the market.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) over 6 years ago

Hi Bryant, as you say it is all about "knowing your numbers".

Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) over 6 years ago

Well thanks for stopping by!!

 

Is it just me or is commenting on AR a real pain in the computer? Everytime I have AR open my entire computer freezes or works in slow mo.

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

Bryant -  it is really great that you are willing to share this information~! You have really grown your business over the last several years! Bravo!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 6 years ago

Consistency is key!! This is an awesome letter, great campaign and clearly paying off for you! Congrats and thank you so much for your generous sharing!

Posted by Sylvie Stuart, Home Buying, Home Selling and Investment - Flagsta (Realty One Group Mountain Desert 928-600-2765) over 6 years ago

Thanks for the letter I just changed mine a little to appear more like yours! I will try this to see if it helps me.

Posted by Kathy Dowd, Consider it SOLD (RE/MAX Realty Team, 239 220 4133) over 6 years ago

Thanks for sharing BB.  I like and agree with most of what you said, and don't want to over-think it.

I was curious that Nestor and Katerina didn't think it would work in a high end market, like mine here in Naples.

I'd be interested in hearing more from them or others on this thread as to why it would, or why it would not work. 

Do they think a property owner in the range of 1+ million requires something with a little more gloss or polish on it?

Thanks for sharing, I've just subscribed to your blog.

Posted by Mark Simoff, Your Buckeye Connection in Naples Florida! (Downing-Frye Realty) over 6 years ago

You shared your letter wayyy back. I bet it's in my bookmarks. I always intended to use it....

Posted by Wayne B. Pruner, Tigard Oregon Homes for Sale, Realtor, GRI (Oregon First) about 6 years ago

Great tips in regards to paying attention to the hot sheet.  I have someone else handle my expired listing letters for me, so I guess I'm kind of missing out on part of the benefit, and need to start setting aside some time to look at the hot sheet more thoroughly and consistently.

Posted by Matt Robinson, www.professionalinvestorsguild.com (Professional Investors Guild) about 6 years ago

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