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Expired Listing Letter

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Education & Training with breakthroughBroker.com

I just updated my expired listing letter and thought I would share the copy with the AR community. I believe the market has improved somewhat and some of the expireds are now in a better position to sell. Obviously everyone should write this in their own voice but it's sometimes nice to have a baseline to work from. Be sure to follow all of your local rules and regs with advertising. 

 

 

Dear Homeowner,

As an agent in [insert neighborhood/city/etc.] I study the market closely and watch which homes sell and which homes don't. I've noticed that you put your home on the market and it didn't sell. I realize there are many reasons homes don't sell, and one of those may have been that you simply decided not to move. If that is the case this letter may not be of interest to you. However, if you still want to move, here is some information that may be useful:

Last year homes in the [insert neighborhood/city/etc.] sold for an average of [insert percentage]% of asking price. Many of my clients are surprised at how high this number is, and I explain that buyers are shopping for the best priced home in their price range. Once they have found that home, they are usually willing to pay close to asking price, even if they start lower. The overpriced homes can't compete with a similar home that is priced well, therefore an offer never comes in.

Why now might be the time to sell? According to CoreLogic, a leading provider of real estate market data, home prices nationwide have risen 5 percent from September 2011 to September 2012. This change represents the biggest price increase since July 2006! The housing recovery is officially underway and buyers are returning to the market.

As a real estate professional I completely understand the stress of putting your home on the market. I pride myself on minimizing that stress by taking a very honest and comprehensive look at your situation and goals. If you are still considering moving I would like to offer you a no-obligation move analysis. A move analysis examines your overall goals, and then I give you an honest opinion as to whether or not your goals are feasible.

I hope this letter finds you well, and please feel free to contact me at any time.

Regards,

[Your Name]

 

If you want to use my design print system (also free) to create this letter it will format it for you with your company logo on professional letterhead. You can do that HERE.

If you found this useful check out some of my other resources on my free website for Real Estate Professionals, BreakthroughBroker.com

 

Happy Prospecting!

Nate

 

Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

So Nathan my question to you is how long will you market to expired listings before you decide to give up on them? Great letter by the way. Thanks for sharing.

Nov 08, 2012 05:36 AM
Nathan Froelich
breakthroughBroker.com - Fort Collins, CO
Sharer of Ideas

Lanre, I think the best approach is to have a plan. I'll be the first to tell an agent that one letter will almost never get you a listing. I think you need to keep coming back around to them. I would also put them on my list to send just solds and just listed postcards. I would look them up on Facebook or linkedin to try to contact them, I would ask them if they would be willing to pay a commission if you bring a buyer (FSBO Style). Build a relationship and over time they will list with you. It's a ton of work but hey, they have raised their hand at some point in the recent past and said "I want to sell".

Good luck 

Nov 08, 2012 06:17 AM
Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

Thanks for sharing your expired letter with us.  I mailed exired and do get a good return on them.  Will give it a try....

Nov 08, 2012 06:19 AM
Ray Stockwell
ZipperAgent - Boston, MA
Director of Marketing

Nathan,

Great letter adn advice thanks

 

Jan 31, 2013 02:29 AM
Carole Webb
Fairfax Realty Greenbelt - Bowie, MD
" Selling Prince George's County "

Thanks for sharing your letter.

Apr 13, 2013 01:18 AM
Kaye Swain
Keller Williams Real Estate Roseville CA - Roseville, CA
Your Roseville Real Estate Agent

Thank you for sharing your letter and site 

Jan 24, 2014 04:36 AM
Lisa Wozniakowski
RedKey Realty Leaders - Crown Point, IN

Thank you so much for sharing this letter!  It has given me great ideas, along with another agent's idea of the expired Package.

Have a great New Year!

Dec 26, 2014 12:08 AM