Real estate marketing idea; Expired agricultural listings
If you think there is no good way to increase your listings and sales, you need to think again. The best real estate marketing idea may be farming expired listings. This is why!
Expired ads are not a secret, but …
Expired listings are probably expiring from your Multiple Listing Service even as you read this article. It is a common occurrence that occurs daily, from coast to coast. Many agents know about them, but choose to do absolutely nothing about it!
Many agents assume that other agents will farm them, which is exactly why growing expired listings can be so lucrative. If most real estate agents assume other agents are chasing them, there is no limit to how many you can convert to new listings!
So while expired listings are not a secret, they are not overworked!
Overdue listings are plentiful
How abundant are expired listings in your area. Let’s take a moment and find out.
1. Login to your ad system
2. Run a search for expired listings for the entire last month.
3. Now divide that number by the number of days in the month to get an idea of the average number of listings that expired daily.
No matter what the number is, it represents an opportunity for an entrepreneur-type agent to build businesses where they didn’t have them before. Contrary to what you might think, owners of expired listings are often eager to get on with the business of reposting and selling their properties.
Many are willing to make the kind of concessions necessary to sell their homes during a new listing period. For example, they may be willing to paint the exterior of the house and do other things that create curb appeal, or lower the price of their properties to make them more competitive during a new listing period.
Expired listing owners can be some of the nicest people you’ll ever meet, and they’re great customers. They are generally friendly with real estate agents, knowledgeable about the listing and selling process, and have a better appreciation of what it takes to sell their properties during a new listing period.
Expired listing systems
When growing expired listings, I recommend that you use a proven real estate marketing script. Essentially, the system will contain step-by-step instructions on how to effectively convert expired listings to new ones. The best ones contain all the letters, tools and information you will need to be successful!
Some expired listings can be quite expensive, but don’t get caught up in the mistaken belief that the more expensive a product is, the more effective it will be. On the contrary, simple and inexpensive can be deadly effective!
Conclution
There are many good reasons why expired listing farming is a good real estate marketing idea, but it basically comes down to this! When you have listings, you double your chances of making money, whereas no listing could amount to a short career in real estate sales.