Coaching Highlights: Expired Listing Letter Program Gets A 1.3 Million Dollar Listing!


I am coaching Brande Bradford, an agent in South Atlanta Georgia and an Active Rain member. She also hired us to do her expired listing program which is like a three part program.  She is only on part 1 of the program and is already seeing amazing results. Brandee Bradford Georgia Real Estate

Part  1 of our expired listing program is sending out a very powerful 'all about them'  sales letter. I customized this letter for Brande and her market. I studied her market, her expired listings, the pricing in her area and studied the maps of her area to get an understanding and a feel for the area. This helps me to write a very powerful and dynamic letter that is sure to make the phone start ringing.

There are some prerequisites that Brandee had to meet prior to her sending out the expired letter.

Brande is breaking into a brand new luxury home market. So no one reading her expired letter would know who she was. She was not their neighborhood agent, not yet, anyways! But she is going to be!  

Brande has been sending out between 15 and 20 expired letters daily for about 4 weeks. She has received 6 phone calls from the letters and 2 sit down listing interviews.

She just landed a 1.3 million dollar listing from this batch of expired letters!

The best part is that this listing is in the luxury neighborhood that we have planned for her to become the neighborhood specialist in.

The more expired letters you send out the more likely you are to get the calls. Brande did not door knock or cold call for this listing. Her phone rang and on the other end was a seller who was interested in Brandee becoming his agent. Just one of these listings closing would more than pay for the customized expired listing program ten times over! You must be patient and commit to the program for at least one year to really measure your results.

If you are not getting these results with your expired letters it is time for you to examine the content of your letter. To help you write a powerful expired listing letter, read our expired listing posts. There are a lot of fine details in these posts that will help you to get the sellers to call you.

One of the prerequisites to make this a very successful program is to make sure you have a good number of expireds in your market. The more expireds you can mail out the more calls you will get. We get all of our listings from 3 sources; our expired listing letters, our Active Rain blog and our referrals. I can not think of a better way to get listings but to have the sellers seeking you out, calling you, wanting your services. It is also a huge time saver. Most of the work in getting the listing is done for you. Now how would you like to break into your luxury home market through expired listing letters?

Katerina Gasset Subscribe to my Blog

Katerina Gasset Real estate coaching

Katerina Gasset, CIPS, Realtor ®, Business and Life Coach, Speaker and Author. Reach Katerina at: 561-753-0135

Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.

Copyright © 2008 By Katerina Gasset, All Rights Reserved.. *Coaching Highlights- Expired Listing  Letter Program Gets 1.3 Million Dollar Listing! * Contact Katerina Gasset for Customized Business and Personal Coaching.

 



 
Post is included in group: The Art Of Marketing You
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89 Comments on Coaching Highlights: Expired Listing Letter Program Gets A 1.3 Million Dollar Listing!

JUN
13
2008
150,588 Points 19 Featured Posts Localism Sponsor Outside Blog Hit Router

Katerina, Good for you and good for Brande!!  That is so exciting for both of you.  I hope she sells the listing straight away.  I am going to check out your link.  Thanks for always being so up and positive.

8:38pm • #1
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Audrey- Thank you for commenting! There is alot of info in our expired links.

8:42pm • #2

Katerina what percentage of callbacks are you getting? I have just started trying to hit the expired market here in Louisville ky so far I havent recieved one callback, I tried to put together a letter from your series on expireds but no response yet, I am thinking that it probaly takes a while.

8:50pm • #3
385,789 Points 1 Featured Post Localism Sponsor Outside Blog

I have avoided expireds in our market but it sounds like I need to look at it again. Thanks

9:05pm • #4
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Bart- You have to send out 20 or more per day. You must have a good call to action and you must speak to the seller about them, not about why they should list with you but what is their pain and how will they get relief. You must be patient. We have been doing this for years. Brandee has only been using our program for 4 weeks and already got a listing even breaking into a new neighborhood. Most of our listings are expired listings from our letter. We do not call them, we do not door knock. We get about a 6% rate of return on ours. That is very high. Brandee is getting about a 2% return which is still huge for direct mail.

9:06pm • #5
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Terry- Why would you avoid expireds? It is the best market! The best listings are those where you are the second or third agent!

9:08pm • #6
347,596 Points 9 Featured Posts Localism Sponsor Outside Blog

Incredible -- I am really impressed.  This is wonderful information and it demonstrates that it can work.  Congrations to you and Brande.  Now, here is the challenge, -- our firm specializes in buyer's only -- so we have some challenges.

9:20pm • #7

That is a great post.  Having a plan and following it.  Great!

9:23pm • #8
119,731 Points Localism Sponsor Hit Router

Wow...I've never had experience like that with my expired letters and I use a whole battery of letters that go out!

9:55pm • #9
1 Featured Post Localism Sponsor

Wow!  This is incredible.  Congrats to Brande and what a wonderful system you must have.  I need to figure out targeting the expired listings here.  Nothing like reading one of your posts to get me motivated!

10:31pm • #10
131,561 Points 5 Featured Posts Outside Blog Hit Router

I love working expireds! I am in a rural market and the only time we have 20 expired in one day is at the end of the month.

I recently added a follow up post card to my program which as produced good results.

Congrats Brande!

10:47pm • #11
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Joan- If you were here we would refer our buyers to you! :) Yes, there are no expired buyers!

11:01pm • #12
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Debbie- That is great! You can really utilize more of a package than a letter if you are only getting 20 at the end of the month. If there are that few, you can drop off your pre listing package in a US Express Mail envelope at each door or mail them to them with 2nd day air packages. When we were low on expireds we had good results with that technique. I don't leave home that much anymore. Only when I really have to.

11:04pm • #13
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Ron- The last 4 million dollar plus listings we got were all from our expired letter. We get a very high rate of return. We only send out one letter because we have SO many expireds here. In our county it is typical to have 400 expireds in a day here. Nestor chooses very carefully which expireds to send our letter to. If you are sending out more than 2 letters to the same people that would make your mailing ineffective. Read our expired listing posts and revamp your letter. If you are not getting the calls, something is wrong with your letter.

11:10pm • #15
131,561 Points 5 Featured Posts Outside Blog Hit Router

Thanks Katerina for that tip - I like the idea of dropping the pre-listing package off at their door. In a rural area, that wouldn't work for all, but it would certainly work for some!

11:20pm • #17
216,139 Points 26 Featured Posts Localism Sponsor Outside Blog

Looks like I need to go back and start looking at your posts again, I jumped at the chance to work more with buyers this year and got side tracked - now, my market is slowing for the summer, no better time like the present!  

11:20pm • #18
JUN
14
2008

Good evening Katerina,

6% is amazing!  I will definitely read your links.  Thank you for being such a great source of information and inspiration.

Not Yet Licensed
12:21am • #19
5 Featured Posts

Congratulations Brande and Katerina!

It is amazing how many people don't have long term vision!  Your advice to stick with it for 1 year is very sound! 

1:42am • #20
341,378 Points 23 Featured Posts Localism Sponsor Outside Blog

Great Advice - our market has just shiftedand for the first time in years we actually have expireds!  And yet thats how I started my career! Time to revamp and letter and get them happening again! :-)

3:22am • #21
367,282 Points 14 Featured Posts Localism Sponsor Outside Blog

Congrats to both the student and the teacher for a job well done.

7:14am • #22
270,951 Points 41 Featured Posts Outside Blog

KATERINA - Now this is good coaching!  So many coaching programs are about theory, but don't get down to the nuts and bolts of actually helping you to create lead generating letters and systems.  I'm going to have to look into this more.  Thanks for sharing the success story.

8:57am • #23
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Liz- I know all about your market. Fred Carver is one of my clients who I coach and we put an expired listing program together for him. His area in Victoria BC only had like 1 or 2 expireds each day, somedays 0 expireds. But we did it anyways because now his system is all in place, it is a routine for him now, like a smooth running system, so that as soon as the market shifts, which like you said, is beginning to shift, he is all ready in motion. Even with the small amount of expireds he has had to work with, he still got calls.

9:29am • #24
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Carol- The power is in the listing! The most important time management skill, stress saving skill, the highest and best use of your time is to have a large listing inventory and to get a buyers agent for your buyers. This was the first lesson I learned from my 60 year old mentor back in 1982 when I started and it still holds true today in this internet driven world of 2008. GO GET THOSE LISTINGS!

9:33am • #26
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Not Yet Licensed, the posts on working expireds on our blog will get you up and running. Put a system into place and get it working smoothly. It is our mainstay.

9:34am • #27
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Pam- Thank you, direct mail must always be viewed as a long term program. We tweaked ours over and over again, always testing for the next best letter. It takes time to see your results.

9:36am • #28
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Adam- This is the main difference between my coaching and most others. I use only customized coaching geared toward each individual person. We also coach from the inside out. It does not matter how many systems you put into place in whatever kind of market, if you are sabatoging your own work, you will never be successful. I find that limited beliefs hold most agents back from breaking through imagined self imposed income levels.

Most of my clients are Mike Ferry graduates and Brian Bufini graduates where somewhere their 'systems' did not work for my clients. Not all systems work in all places either. They have great systems, but for many agents systems are not generally all that they need. Then they only get coaching on the systems and relate it all back to the system. Well, life is not like that. I find that with many of my clients we run into snags and we have to figure out what the source of the resistance is and move through that before they can move on.

If a client hates to make cold calls, I will never ask them to make cold calls. Because people who hate to make a call will take all day to do it and then create so much stress around it, that this is not the highest and best use of his/her time. So we work on making strengths stronger and delegate the weaknesses or eliminate them from their own business model.

Expireds are the best way to break into luxury markets and new markets. It is also the best way to build up a listing inventory.

9:46am • #30
445,811 Points 28 Featured Posts Localism Sponsor Outside Blog

Katerina, I am thrilled to hear the news, congratulations to all of you!  I learned from your previous posts on expireds how to convert that information to help one of my clients--and she did, she reinlisted several clients for her business.  Thank you for such wonderful news and information.

10:06am • #31

We have very few expired listings in our immediate market but i see how this could get us additional business out side out niche. Thanks for sharing.

11:20am • #32
512,309 Points 35 Featured Posts Localism Sponsor Outside Blog

Congrats Katerina and Brande on a very nice listing! You mentioned prerequisites that Brande had to meet before sending out the letter. Can you elaborate on that?

11:28am • #33
371,714 Points 2 Featured Posts Localism Sponsor Outside Blog

way to go Brandi. I need to look further in to this thanks for the blog and congrats Brandi

11:42am • #34
412,115 Points 81 Featured Posts Localism Sponsor Outside Blog Hit Router

Congratulations Brandi AND Katerina and Nestor.  Sounds like a great job all around.  You really know how to do work the expireds!

12:03pm • #35
571,401 Points 59 Featured Posts Outside Blog

Katerina, an excellent article focused on Expireds for the Luxury Home market. As with any campaign it has to be focused, consistent, and tweaked along the way to make it the best. Measuring the results is critical. I am so happy Brande is getting results with the assistance of your coaching.

12:22pm • #36
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Carole- That is great news! I am so glad your friend was able to use these principles. They work in every business. Most of it is copywriting effectively with direct mail strategies that have been used for over 100 years.

12:37pm • #37
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Mindy and Jay- Thank you for reading our blog!

 

Charlie- Expireds are a great niche to market.

 

Margaret- Thank you so much! You are such a wonderful support!

 

Gary- You are right. Consistancy is key, focus and always testing!

12:40pm • #38
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

John- Brandee is breaking into the luxury market. She had to learn all about the new market before we approached it. The prerequisites are all about breaking through limited beliefs and Brandee will go into more detail about that in her posts that she is writing about her progress in our coaching program.

12:45pm • #39
1 Featured Post Localism Sponsor

Hey, I am gald to see that this approach is working. I find that I get flustrated with the many letters that I get returned because the expire has move and left no forwarding address. Or the listing is vacant and there is no new address.

1:01pm • #40

Katerina!  Awesome stuff...hey you wanna come to South Carolina? It is close to GA :)

1:10pm • #41
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Lorraine and Loretta- That is looking at your glass half empty. We get returned mail too. Sometimes a little, sometimes a lot. Sometimes the post office are jerks and return mail where we know they are still living there. That is just the cost of doing business. THe benefits far surpass the obstacle of returned mail. It sure is better on your pocketbook than the time and gas money it would take to knock on their doors or the insulting method of phoning them.

Businesses cost money to run and you must use marketing methods that get a great return.

We get an average of a 6% rate of calls back to us and Brande got 8 calls from 400 letters! That is a winner! Why would I even concentrate on the returned mail with these results! There is money in the bank! We have been doing this for over 20 years.

What you focus on expands:) Katerina

1:12pm • #42
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Jeremy- I coach Brandee over the phone and email. I researched her market virtually and with her sending me all the stuff I asked for including the maps of her areas so I could visualize where she is driving, etc.

1:23pm • #43
131,727 Points 8 Featured Posts Localism Sponsor Outside Blog Hit Router

GREAT post. Time to rethink expireds...and put a new battle plan together!

2:35pm • #44
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Thom and Ray, Thanks for commenting. I did get your email and will get back to you, perhaps I will even write a post to help out.

3:29pm • #45
254,701 Points Outside Blog

That sounds like a great idea!  I'd like to read your previous blogs on this topic.  It makes alot of sense.  Thanks for sharing!  :)

4:43pm • #46
597,441 Points 244 Featured Posts Localism Sponsor Outside Blog

Katerina, As you know I am a huge fan of expired listings! There are no better leads. They've already decided to sell and they've already decided to use a REALTR(R)> How can it get any better than that. The key of course is to just do it. Do it today. Do it tomorrow and then do every day thereafter for as long as you are in the business. If folks aren't getting business from an expired mailer either their letter sucks or they just do it "every now and then". Of course this assumes they have expired listings in their market.

Good job Katerina and Brande!!!!

5:06pm • #47
1 Featured Post Outside Blog Hit Router

I know they work. You just have to keep doing them and make sure the letters are effective. I look forward to learning more about your letters and program.

5:51pm • #48

Debi- We have a whole series of posts on our blog about working the expired market.

6:32pm • #49
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Bryant- It is a total no brainer! And you are right, if the calls don't come there are either too small amount of expireds, but even then, eventually the calls will come as I can attest with the agents who are following my advise, or they are not consistant. I find this to be the case whether it is mailing out expired letters or blogging on AR. The agents who are not getting results are those who are not consistant. And I have read some very SUCKY letters! Thanks for your support, I know how much you believe in this niche! We now have a short sale expired letter to send to the listings who expired and were short sales.

6:37pm • #50
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Michael- Read through our whole series of expired listing niching. There is all the info there you need to make a successful expired program.

6:38pm • #51
1 Featured Post

Katerina: thanks fore the insight...I never gets much result from my letter....I'll make sure to look into your program....

7:37pm • #53
8 Featured Posts

I am chiming in a little late here, but thank you to all of you.  However, I have to really thank Katerina.  I will be writing my post about this experience shortly, and I have to say that it would not have happened without Katerina's experience and patience.  If your serious about building your business, you need to let Katerina help you develop your expired program.  She is simply sensational. One deal and the cost will more than cover itself...You wont be sorry!

9:10pm • #54
254,783 Points 34 Featured Posts Localism Sponsor Outside Blog

Way to go Katerina! I think that is wonderful! You are a peach of a coach aren't you? That's quite impressive. Nestor, have a happy Father's Day!

Later in the rain~Deb

11:01pm • #55
1 Featured Post

Good for Brande and good for her coach! I hope you both have more success!

11:49pm • #56
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

George- Thanks! Make it a wondeful Sunday!

Donna- If you are not getting results from your letter, without even looking at your letter I will tell you that your letter is NOT about them. It is most likely about you or your company. They don't care about you. Good direct mail is all about them. Read your junk mail, it is a great lesson in what is good and what is not in direct mail.

Deb- Thank you Deb!

Wayne- Brandee is a superstar in the making. She was a star already, just taking it up a notch!

11:58pm • #57
JUN
15
2008
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Brande- Thank you so much. I am looking forward to your post! I am so excited about the wonderful progress and results you have made already. You are a shining star and I am very proud of you! SO is your Father in Heaven. You have made some huge strides which I am looking forward to you sharing about too. Coaching is a great way for you to be accountable and work on the things that are income producing.

Work more on yourself than you do on your business, that is how you reach a higher income level.

12:01am • #58
333,884 Points 3 Featured Posts Localism Sponsor Outside Blog

This is a great result. I will look forward to reading more about your expired listing plan.

1:06am • #59
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Christine- This post has the link to all the other expired lisiting program posts. Or you can look under my tags and choose expired listings, the one with the most entries. Happy reading:)

2:30am • #60
327,819 Points 3 Featured Posts Outside Blog

Thank you...whatever market you are pursuing....sales is a numbers game...response percentages are never going to hit double digits so you have to weigh whether the anticipated response percentage and corresponding income is worth the effort...every Million PLUS listing sure puts some incentive into sticking those stamps !  Good JOB !

7:06am • #61
1 Featured Post

In today's market, every edge counts...I will be taking a deeper look into market expireds this way.  Thanks

8:22am • #62
337,683 Points Outside Blog

In Phoenix area one of the issues of the expired homes is that so many of them are heading into foreclosure since they could not sell for what the owner owed the bank.

11:15am • #63
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Bob and Carolin- Then become a short sale expert in the area and then service those pre foreclosures! That would be a gold mine!

2:07pm • #64
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Sally and David- this is the lifeblood of our business and has been for most of the 20+ years in the business.

2:21pm • #65
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Kay- This has worked for us for over 20 years. There are somethings that stay the same! The power is in the listing.

2:22pm • #66
224,750 Points 2 Featured Posts Localism Sponsor Outside Blog

I was REALLY impressed with this blog.  Tried to sign up for your blogs but there appears to be a malfunction at the moment. 

2:28pm • #67
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Diane- OH, that is not good:) Go above our photo and click on Subscribe up there. That might work. There seems to be a glitch in the system and it changes my button's link language by default. Try the one above our photo on the right side bar of our blog. Thanks.

2:32pm • #68

Katerina, I am ready to use this system, but we don't have that many expireds here! I think I will call you tomorrow about coaching. Talk to you soon!

9:36pm • #69
JUN
16
2008
239,086 Points 2 Featured Posts Localism Sponsor Outside Blog

Katerina - Good for you. I'm not surprised that she is succeeding at this stage, she has a great coach.

7:19am • #70
1 Featured Post

Katerina and Brande-  Congratulations on the listings.  That is such a great statement for your coaching. 

1:27pm • #71

Katerina, I keep TELLING MYSELF I am going to work expireds and haven't followed through.  You just lit a fire for me! Thanks so much.

7:22pm • #72

I started doing this at one time but consistency wasn't there.  Not to mention the price of stamps for mail that was returned.  You are making me want to try it one more time but I will need some assistance.  Great job.

9:37pm • #73
JUN
17
2008

Katerina, great coaching, and Brande Way to go! Woohoo! 

11:55pm • #74
JUN
18
2008

Katerina,

Great stuff as usual. One quick question, you mentioned "If you are sending out more than 2 letters to the same people that would make your mailing ineffective.". Why not follow up with more letters? Just curious, thanks...

Chris
9:39am • #75
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Chris- Because then you appear 1. desperate 2. like a 'salesperson', 3. it loses the effectiveness of time is of the essence. You appear 'needy' You are at their mercy at that point, our letters are from the point that the seller is losing out, not us. Very effective reverse psychology!

10:42am • #76

Katerina,

Thanks, I understand the first two, and I agree with you. But on #3 "it loses the effectiveness of time is of the essence". Are you saying that they are less likely to relist later. Just trying to completely understand.

Thanks again,

Chris

 

 

 

Chris
11:48am • #77
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Chris- You lose your ability to use time is of the essence as a way to get them to call you. If you keep sending them letters, they are thinking, oh, I don't have to call now, he is going to write again and then I will call and so it goes on and on. We only send out one letter. That letter is so powerful that we have sellers who keep this letter along with our brochure for over a year before they call us. The point is, it must be in their mind that you are of value and they need to call you. The more letters you send, they are just not going to be saving them are they!

12:07pm • #78
3 Featured Posts Localism Sponsor

This is a fantastic example of how AR really works to bring people together!  You have also motivated me to get my expired strategy together -- thank you!

10:55pm • #79
JUN
21
2008
386,897 Points 15 Featured Posts Outside Blog

Katerina:  Congratulations on your incredible success with Brande and your expireds program.  You are a true gem.  Take care...

5:02am • #81
JUN
30
2008

Katerina,

Your information on Expireds is most informative. Question, when sending your package with a listing agreement, filling in all information except the listing price how do you address this with the seller? Do you send comps in the package?

I appreciate all of the information and look forward to your reply.

Agnes
11:49am • #83
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Agnes- No we send no comps or listing agreement in the expired letter. We do however tell them in our letter most all they will need to do and then we send the listing agreement by email now. On all our short sales, we do not even meet with the sellers until we have the signed listing agreement back. We do not send them comps but tell them on the phone what those comps are and what we need to price the house at. Does that answer your question?

1:11pm • #84
JUL
01
2008

Thank you for the encouragement. I just sent out my letter and am waiting to hear back from

some. We have several expired's in our area right now.

 

1:14am • #85
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Sandy- Make sure you are consistant and committed! You must keep going, it is not an overnight thing.

1:24am • #86

Good morning Katerina,

I told a mega agent in NC about your success with listings.  I hope she contacts you.  Her first name is Judy.

Respectfully,

Bruce

Not Yet Licensed
1:46am • #87
625,101 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Not Yet Licensed- Bruce- Thank you so much, that is so wonderful and I truly appreciate your referral. She has not contacted me yet. I am sure she will when she is ready.

10:00am • #88
MAR
01

How much do you charge for doing an expired letter?

9:05pm • #89

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