Article by Simon Volkov

An expired listing letter is a valuable asset for realtors and investors. When properly structured these marketing letters can help professionals secure new realty deals and earn income.

The expired listing letter is sent to sellers whose real estate contract has ended. Most contracts extend for six to twelve months. When property goes unsold during the listing period and the contract ends, sellers can extend the agreement terms; locate a new realtor; list the property as for sale by owner; or take the property off the market.

Realtors and investors locate expired listings by searching the Multiple Listings Service database consisting of nationwide homes for sale. When contracts expire, agents and investors send an marketing letter to the seller in attempt to gain their property listing.

Investors new to expired listings marketing can locate sample letters via the Internet or through other realtors. Investors should adapt letters to accommodate the situation. For example, a marketing letter sent to homeowners would include different verbiage than letters sent to business owners selling commercial properties.

Good sources for learning marketing strategies is through networking groups clubs and online investment forums. To become successful in this field, investors should create a marketing plan and utilize various strategies to locate investment properties.

While expired listing letters are normally sent to sellers, investors occasionally use letters to contact real estate agents whose contracts have ended. When investors can orchestrate a sale they can earn commission from closing the sale while realtors do most of the work. Using this strategy can help investors generate solid leads and develop good working relationships with realtors.

Investors may want to consider using the services of a marketing company or copywriter to create marketing materials. Realtors often use a variety of prospecting tools such as postcard marketing, direct mail campaigns, flyers, cold calling, and word-of-mouth referrals.

The primary goal of expired listing letter is to locate motivated sellers, purchase real estate below market value, and earn profits by closing realty sales.

Investors must stay abreast of changing market trends and develop marketing strategies which make them stand out from the crowd. Sellers are often bombarded with advertisements from realtors and investors when property listings expire. Those who develop unique marketing materials and a solid plan can capitalize on this niche.

Professionals who specialize in expired listings usually work with sellers that are anxious their property did not sell during the contract period. Most are distraught, stressed out, and feel let down by their listing agent. The last thing they want is more empty promises. What they want is to find someone who can sell their home and place money in their pocket.

Investors who can solve sellers’ problems will earn their business. When developing marketing materials it is crucial to focus on sellers needs and not on the investment business being promoted.

Expired listing marketing is a competitive market. Investors and realtors must be committed to their clients and provide results. Those who take time to create solid marketing plans and develop a strong network will improve their chance of locating motivated buyers and build a reputation for being the go-to-guy for closing realty deals.

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