How Do I Get Expireds To Call?
Question: How Do I Get Expireds To Call?
Hi Joe, I love your materials. I’ve been a realtor for 16 years and I’ve been to more real estate seminars over the years than I like to admit, but what you are teaching is the most original way of doing business for realtors I have ever seen. Thank you for sharing your experience and knowledge. I heard you mention on one of your free audios something about an Expired marketing program you designed. Can you tell me how it works? Thank you again for all you do.
Rich in Seattle, WA
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Read Transcript for “How Do I Get Expireds To Call?”
If you’ve ever prospected for expireds before, you know that they’re not excited about talking to realtors, but when they get a call from a buyer, they’re much more receptive. Also, when you buy these expired listings, a lot of them will sell to you under the terms and conditions that you ask for.
“I love your materials. I’ve been a realtor for 16 years and I’ve been to more real estate seminars than I’d like to admit, but what you’re teaching is the most original way of doing business for realtors I’ve ever seen. Thank you for sharing your experience and knowledge. I heard you mention in one of your free audios something about an expired marketing program that you designed. Can you tell me how it works? Thank you again for all you do.” – Rich in Seattle.
Joe: Thanks for that positive comment, Rich. The expired program is one of the organic methods that we use. Rather than going online and doing all of that stuff there, what we’re doing is we’re pulling the expireds off of the MLS and we’re sending out a snail mail to them. The snail mail is very similar to what we’re sending out to for sale by owners. We’re telling them that we’re investors, we want to buy their properties even though we have a license, we’re not acting as agents and we’re acting as buyers for the property.
Joe: Not every one of these expireds is going to accept the offer that you give them, but it’s going to open a dialogue with them and that’s going to make it a lot more likely that they’ll list with you as well. Joe: Once again, we’re going back to those zero down structures that I talked about previously (“Subject-To”, “Multi-Mortgage”, land contract, contract for deed, lease option and cash assignments.) So, those types of deals and those types of structures work very, very well for a lot of expireds.
Joe: Just to give you an idea of how this works, when we send out a letter which tells them who we are and what we’re looking for, they get an 8% to 10% response. I have one designed and I talk for 45 minutes or an hour in one of my programs.
Joe: We’ve sent this all over the country to a lot of different states and areas, and we’ve had great success with it. Out of the eight to ten responses we get from the 100 we sent out, we were able to put together two or three deals, so it’s a very phenomenal, very cheap way to get leads. This costs about $40 to $45 to send out 100 pieces of mail, and to be able to get that many leads from it – I’d bet that not very many advertising schemes work as well as that.
Joe: Hopefully, that makes sense for you and will get you not only investment property but also get you more listings. I hope that helps.