The Best Real Estate Marketing System
Just Might Be Farming Expired Listings
The Best Real Estate Marketing System I ever used was a Farming Expired Listings System! And it was simple enough to do; it only required about 60 minutes per day! And it kicked butt! With it, I converted, on average, two expired listings a week to new ones!
Not to brag, I listed more properties Farming Expired Listings in one month than many agents get in a year! In my best month, I converted 17 expireds to new ones.
I remember one expired listing lead in particular that netted seven listings from one parcel of land when the owner agreed to list their forty-acre tract of land seven ways in various ways, as
- four ten-acre parcels,
- two twenty-acre parcels, and
- one forty-acre parcel
It was a listing bonanza - seven listings at once! Are you starting to understand why a Farming Expired Listing System is highly effective and one of the best marketing tools an agent can have in their toolkit?
The Power of a Sound Real Estate Marketing System Can Be Transformative
I know! Getting seventeen listings in a month sounds fantastic, and it was! And its success can be duplicated! You may not list seventeen in a month, but would you be happy with five or six? I would! How about you?
Agents who farm expired listings can boost their chances of generating enough leads that convert to listings and sales simply by specializing in this niche. With one, they build reputations for being trustworthy and persistent, leading to sustainable success.
From Misfortune to Mastery: Navigating an Unpromising Start
When I first got licensed, I was like other rookie agents: green, more than a little naive, but willing to learn. I wanted to be successful, so I walked around wide-eyed with big ears, trying to take in everything I could from agents who “had game.” You know, the ones getting lots of listings and closing many deals!
And pretty soon, I started sensing a theme. Everybody was talking about listings and seemed to assess their productivity based on the number of sales they made, the number of listings they got, or both! But oddly enough, at that time and in the office I worked in, nobody was farming expired listings regularly!
I was bewildered! Why would rational and successful agents not work the goldmine that expired listings are? But I didn’t spend too much time worrying because their oversight meant I could dominate expired listings with little competition. Of course, things have changed since I retired my license, but the one constant is fewer agents than you might believe Farm Expired Listings regularly.
And while competition for them may be more intense, they still offer potential for motivated agents.
Top Reasons Why Farming Expired Listings Might Be The Best Real Estate Marketing System Ever
Farming expired listings is a proven game-changer for real estate agents aspiring to greater success. Here are five key advantages that make it an indispensable asset to your journey towards domination in your market.
One. Lower Competition
Expired listings often have fewer agents actively pursuing them compared to new listings. This lower competition can give you a better chance of winning the listing and earning a commission.
Two. Motivated Sellers
Sellers whose listings have expired are typically more motivated to sell their properties. They may have a pressing reason, such as relocating, downsizing, or financial concerns, which can make negotiations smoother and more favorable for both parties.
Three. Potential for Price Reduction
Expired listings might have been overpriced during their initial listing period. Sellers who have had their listings expire may be more open to pricing adjustments, increasing the likelihood of a sale and your commission.
Four. Established Relationships
Reaching out to sellers of expired listings allows you to build relationships with homeowners who have already expressed an interest in selling their properties. Even if you must wait to secure the expired listing, you may become their preferred agent for future real estate transactions.
Five. Database Growth
Farming expired listings can help you expand your client database. As you contact homeowners and offer your services, you can add them to your list of potential clients for future listings, referrals, and repeat business.
Successfully farming expired listings requires persistence, strong communication skills, and a proactive approach. Building trust with sellers and providing value through communications is vital to turning expired listings into profitable opportunities.
Do Most Agents Farm Expired Listings?
I don't think so, at least not consistently! Let's test my answer!
Quietly ask around your office to see if your co-workers are farming expired listings. Be discreet, though, because you don’t want them to alert them to what you’re about to do if they aren’t already doing it. After all, the point is to generate business by doing what they aren't doing.
What you’re likely to find out is this! Only a few agents in your office, if that many, are farming them, and the few aren't doing it routinely.
Best Real Estate Marketing System Recommendation!
Owners of expired listings can be some of the most motivated sellers you can source. Many have problems on top of problems: double mortgages, bad tenants, vacant properties, high taxes, escalating insurance premiums, divorces and separations, pending foreclosures, and more. They want and need help, and you can offer yours with a letter system like ours! Click here to learn more about how you can get started today.
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