Unlocking the Potential – How to Turn Expired Listing Leads Into Opportunities

Unlocking the potential is about knowing who you are and where you want to be. It is also about being disciplined and taking steps to make it happen.

You can contact expired listing leads with phone calls, marketing emails, or a letter on professional letterhead signed with your name. Expired listing lead letters can be more effective than a phone call and may garner better responses.

Discover Expired Listing Leads Strategically

Expired listing leads take work to convert into clients. They have already spent months, and often years, trying to sell their property without success and will likely receive multiple phone calls from agents trying to snag their business. Therefore, agents need to approach every connection and conversation strategically.

Creating an effective strategy for connecting with sellers, building rapport, and converting them into listing clients includes implementing various marketing methods. Agents may use social media, email drip campaigns, direct mail, and other marketing channels to stay top of mind with expired listing leads.

When contacting expired listings, it’s essential to have a strong and persuasive script that highlights your value and shows you understand why your previous listing failed. It would be best if you also had a clear incentive to offer them to help convince them to work with you. For example, you might offer a reduced sales commission rate or a free market analysis of their property. Additionally, you can utilize a dialer to reach hundreds of leads an hour and easily record and save contact information into your CRM.

Contact Expired Listing Leads Multiple Times

Expired listing leads are typically much more motivated to sell than other seller leads. They understand what caused their home not to sell the first time and are looking for a new agent to help them sell it this time.

It’s essential to contact expired listing leads multiple times before they agree to be your client. They are receiving calls from many other agents who also want to work with them, so you have to earn their trust and make a strong case as to why you are the best choice.

One way to do this is to send a monthly email drip campaign that includes property market data, seasonal greetings, helpful hints for sellers, and other valuable content to keep your brand in mind. You can also use a real estate CRM to automate these emails and texts with a button. This type of communication keeps you top of mind and is highly effective for converting expired listing leads into clients.

Nurture Expired Listing Leads Strategically

Several ways exist to convert expired listing leads into active listings, including phone calls, emails, and direct mailers. The key is strategically nurturing these leads by providing value and building rapport. By doing this, you will earn these sellers’ trust and be able to convert them into clients once they decide to re-list their property.

When calling expired listing leads, have a script to handle common objections. Emphasize that you understand their frustration with how their previous agent failed and that you are the local expert who has the expertise, resources, and track record to help them sell their home successfully this time.

Another way to connect with expired listing leads is by sending them a physical letter on your professional stationery. This is a great way to showcase your marketing expertise, build rapport, and highlight testimonials from past clients who have successfully sold their homes. 

Automate Expired Listing Leads

Use a cost-effective CRM system with an autodialer to maximize expired listing leads. This will allow you to reach out to the homeowners before competitors do and demonstrate your expertise in the area and local market. Mailers that include a free market report, case studies of homes sold in challenging areas, or other information that adds value will help you nurture the leads and build natural rapport.

Expired listing leads are typically more motivated to sell than other real estate prospects. They may have tried to sell their home with a previous agent and failed, or the current contract lapsed because of price fluctuations or seller contingencies. These prospects are ready to work with an agent who can show them what went wrong the first time and how you can successfully list their home this time.

Invest in a CRM with an autodialer and expiration date filtering capabilities to maximize your expired listing leads. This will save you the time and effort of manually searching MLS listings and copying and pasting them into a contact list.

Create Expired Listing Lead Scripts

Expired listing leads are homeowners who could not sell their homes during the previous listing cycle. These homeowners are usually stressed, frustrated, and anxious to sell their homes quickly and easily. They may also be skeptical and doubtful of real estate agents. Therefore, it is essential to have a well-crafted expired listing script to guide your conversation and steer the homeowner in a productive direction.

Using the right script will help you start your conversation by asking the seller whether they are interested in selling their property. It will also help you establish yourself as an expert in the local market. This will give them the confidence and motivation to work with you when they re-list.

Another way to connect with expired listings is by sending them a letter. Be sure to use a professional letterhead and personally sign each one. It is also important to mention that you are a professional in the local market and provide them with a free market report. It is also necessary to ask for their prior express consent before contacting them via phone or text. 

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