Expired listings marketing refer to a strategy used amongst investors and realtors to locate potential real estate deals. Expired listings occur when real estate contracts expire between buyers and their listing agent. Real estate professionals use the multiple listing service (MLS) database to locate listings which have expired.

Developing an expired listings marketing plan is essential for success. The first step involves understanding the mindset of sellers and creating marketing materials that address their needs. Homeowners whose real estate contracts have expired are often stressed out and anxious because their property has not yet sold.

Most sellers are aware that attracting qualified buyers in today’s real estate market is challenging. However, homeowners who need to sell their house quick to avoid foreclosure or relocate to another area want results, not excuses. Investors involved in this field must develop creative marketing strategies that will place a “sold” sign in front of sellers’ homes.

In order to be at the forefront of locating expired listings, real estate investors must frequently review the MLS database. It is important to realize competition with realtors is fierce. The moment realtors locate promising homes for sale they immediately send out an expired listings letter in hopes of obtaining a real estate contract. Investors are often in competition with multiple realtors, so they must develop marketing materials that stand above those offered by their competition.

Property owners want assurance that the next agent or investor will provide results. The worst mistake investors can make is to focus their marketing efforts on past successes. While it is smart to highlight achievements, expired listings marketing campaigns should focus primarily on the seller’s needs. Providing solutions which address sellers’ fears and concerns allows investors to connect with sellers on an emotional level.

Sellers need to know investors understand their concerns and possess the knowledge and resources to solve their home selling dilemma. While homeowners might be impressed that an investor has closed dozens of expired listings sales, they want to know how investors intend to sell their property when their real estate agent was unable to accomplish the task.

Real estate marketing materials should also address strategies investors plan to use to successfully compete in a buyer’s market. Most sellers realize their asking price must compete with discounted bank foreclosure and short sale properties. In today’s real estate market, buyers can easily purchase homes below market value. Few are willing to offer the full asking price even if properties are in excellent condition.

The primary reason real estate listings expire is because sellers refuse to reduce their asking price. Investors should offer creative financing options within their marketing brochures and summarize how these strategies allow sellers to obtain the highest offer. Financing options might include seller carry back financing, lease-to-own properties, subject to transactions, and 1031 exchanges.

When developing expired listings marketing materials it is important to create multiple pieces that build upon the last. For instance, real estate investors would send out an initial contact letter to introduce their company and outline available services.

A day or two later, investors send an expired listings postcard to offer a complimentary consultation to discuss available options. Afterwards, they would send a follow-up brochure which addresses common seller concerns. Finally, investors would follow-up with a phone call in attempt to close the deal.

Many real estate investors utilize the services of marketing companies which specialize in real estate to help them create savvy marketing campaigns. Others purchase real estate marketing kits which include premade templates and telephone scripts.

Investors must understand the process of expired listings real estate to ensure they can deliver on promises made. Expired listings can be a profitable niche for those who learn the process and develop a solid marketing plan.

Author Bio: Real estate investor, Simon Volkov shares insider-secrets to help investors create solid expired listings marketing plans. Simon provides information and resources to help investors tap into this profitable niche at www.SimonVolkov.com.

Category: Real Estate
Keywords: expired listings marketing,expired real estate listings,expired listing letter,real estate investors