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Q & A: How long should I try to contact an expired for after it expires?

By
Real Estate Agent

 My answer would depend on what type of market you are in and how much competition you have. On one hand you have the small towns with less expireds and less competition. On the other hand you have the big cities like Orlando, Florida with 2 million plus people in the entire metro area. Hundreds of homes are expiring and dozens of other agents are contacting them after they expire. How do you stand out?

  In that situation I would only mail my letter 10-15 days after the home expired. I would call the best expireds on the phone and ask for an appointment from the ones I reached. After 10 days most of the other agents have dropped off the map and the seller will actually notice you. You almost start the farm those expireds for the next 3-6 months. You send them a letter and then follow up by phone to the ones with a phone number. You do that over and over until the results aren’t worth it anymore.

  Every single time you contact that market you will get results. I know that may sound crazy, but it’s true. For example, I washed dishes yesterday. At one point I wanted to get the soap out of the sponge. So, I rinsed it and then shook the sponge dry. At first a bunch of water came out. I kept shaking it another 7-8 times. (Yes, I really wanted to get the soap out!) What was weird was that on those last 3-4 shakes the same amount of water came out each time, even though according to logic all the water should have been gone. The same thing happens with expireds.

  A lot of them are in denial, or frustrated with agents. When they finally get to the point where they do want to go back with an agent, who are they going to go with? A random agent, or the agent who has been in touch several different times over the last few months? If you’re going to farm the expireds for a long time, go after just the best leads.

  In a smaller market, you have fewer expireds and therefore have to convert more. This is where you need to get them right away. But you won’t be able to reach a certain percentage up front. You’ll have to go after them long term and the same rule apply here as apply in the bigger markets.

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Kim Dove
Watson Realty Corp - Jacksonville, FL
Realtor - Jacksonville FL

That is such great information for me. I am about to make expireds part of my marketing plan this year.

Feb 03, 2010 12:36 AM