Expired listing is the most crucial job in the real estate industry. It will be an easy job to sell expired listings when compared to convincing the owner of the property. Yes, you have multiple choices to sell the expired property. But the difficulties arise when you need to convince the owner as they would have already been upset and frustrated with the past unsuccessful agents.
To make this tougher task easier, you can create an expired listing letter to the owner of the property. The way you present the letter makes a huge impact in getting you the deal. However, if you are not adept in creating a letter on your own, make use of this page where we have compiled several examples of the best-expired listing letters.
While writing the letter it is important to stay focused towards the goal. You are writing this letter to the seller who has failed to list their property for a number of times. They would have already lost their confidence in the real estate agents. Here your goal would be to regain the trust of the seller of the property. In order to achieve this, you can’t directly have a conversation which they lost their interest on. So writing an effective letter that communicates what you feel about the property and your capacity to list the property is vital. This is not only going to show you more reliable but also gain you an identity among the selling agents. Check out the effectively written sample letter attached here.
Make sure you have pointed out some valid reasons on why your seller should consider you over the competition. You can address the things you do for listing their property. It may be a campaign or a promotion program, but make sure you let the seller know that you are so serious about making the deal. Check the attached file, which seems to be a perfect example of a professional expired listing letter.
It is essential to do proper research before started writing an expired listing letter. There may be a lot of reasons why the property still remains unsold. Learn the background of the property and know about the agent who handled the property listing previously, the previous selling price and anything about the property owner. Doing sound research on these things will help you figure out and showcase your abilities to eliminate the mistakes that caused the failure of listings previously.
While you are in the research phase, try to find out why the property wasn’t sold by the previous agents. In order to find this, you need to first understand a few things on how long the property is on the market, was the property marketed properly and at what price the property had been listed formerly. Along with your research, you can collect information about the agent, owner, terms and conditions of the property while listing. Check out the sample which emphasises the mentioned things.
If you want to stand out from your competitors you definitely need to showcase yourself unique among them. One of the strategies, you can write a perfect listings letter which inspires the owner to choose you as an ideal person for their unsold property. A perfect expired listings letter must have four basic sections likely introduction, a section to describe the owner’s problem and a section for their solution. The last section must describe you and your services with a call to action. Check one of the samples attached here.
Showing your latent qualities in the letter is one of the effective ways to get the trust of the owner. However, you can highlight the problems and reasons for the property for staying unsold. To achieve this you need to undergo sound research. If you correctly point out the reasons, then you will have high chances to be chosen by the owner. Check out the simple expired listings letter attached here.
No doubts, that real estate is a competitive field. You will be hired only if you show yourself something different from others. The property owner gives the chance for those who have a different approach towards their property. Here, while writing an expired listings letter, you must indicate the faults of the previous approach and the solutions to overcome them. The failure of the listings might be inconsistent updating, lack of social media coverage or low-quality staging. Find the reason and submit it to the owner of the property, so that you will have the high chances to be opted for. Check the sample here.
As a realtor, if you are new to the real estate industry, you must know the format that should be followed while creating an expired listings letter. Here, the attached sample explains how an expired listings letter should be formatted, check it once.