Help Getting Expireds
I need help. I'm all ready to market to expireds. One problem I cant get them.
I've cold called about 20-30 real estate agencies from the yellow pages. I ask for an agent to work with. I explain to the agent I'd like the expireds sent to me once a month. In exchange for this I'll pay them a commission on each one I buy. Sometimes I elaborate: 500 bucks commission each one- expect to do 2-3 per month once we get rolling .
Nothing - not one taker. What am i missing? i'm offering them $1000-1500 for 10 minutes of work per month
How can i get the expireds?
join a local landlord/investor club in your area. There will be a realtor there that will help you.
I use www.realtor.com for my expired listings
[addsig]
how so?
How do you get expired listings from www.Realtor.com :-?
When you go to www.realtor.com you need to sign up as a member. The membership is free.
As a member you can store a large number of properties in an electronic file cabinet. I do a search of possible properties that I want and file them away in a week or so I check my saved listing and look for
This listing is no longer available.
It may have been placed in escrow, sold or removed from the market.
When I see this, I check the subject property at the assessor's office for potential owners' name and mailing location and send the following letter:
Dear (Insert Customer Name),
I noticed that your listing has expired for your property located at (Insert address) in (Insert Location) and the listing agent may no longer be marketing your property.
We may have some interest in your property.
I believe there are several reasons that properties fail to sell:
* Property price
* Market conditions
* Repairs not done
* Marketing
* Bad listing agent
I am confident we can help you with your property at (Insert address).
Please call us if you have an interest in discussing the purchase of your property.
Sincerely,
xxesxx Hxxxin
(417) xxx-xxxx
(Assistant to John Michael)
Most of the properties that I have dealt with over 5 years of using www.realtor.com this way have been expired listings.
[addsig]
cthomebuyers and hwatters,
I would not recommend searching www.realtor.com to try to deduce which listings are expired. You cannot search www.realtor.com by municipality or street address. MLS #'s for a given property change, so searching by MLS # isn't definitive. You can search by zip code, but any given municipality typically will have more than one zip code in it or the property gets input into the MLS with a different zip code. In addition, there are properties that are still for sale and still in the MLS that don't show up in www.realtor.com.
Agents regularly check the lists of expired listings to either try to get the listing or to try to sell the property if they think they have a buyer. At least in my area, a listing commission or selling commission on a property is a lot more than $500. That may be why agents haven't responded to your proposal. In addition, the time involved is much more than 10 minutes per month to pull off daily lists of expireds. How many expired listings will you have to go through and weed out to produce one that you buy? Chances are, a lot.
Cthomebuyers & hwatters,
Just take it for what it is worth. This method has been successful for my students and me.
Agents do not like to provide expired listings as many will attempt to get the property relisted as agents are aware in the business of real estate it's a numbers game. The more listings they have the odds increase for more sales.
Many years ago I attended school in California to become a realtor through Century 21 and during this time they covered the do's and don'ts of using the Multi Listing System "MLS" and indicated one can get fined and even loose their license by providing list of expired listings. I have never researched this fact and really have never had the need to do so.
NancyChadwick is simply not familiar with the process and as normal in this case wants to discredit.
You will see many in this industry that are unable to think out of the box. Your most successful investors think out of the box. They are creative thinkers who do not understand the words "Can't Do".
Look at it this way as a creative thinker:
Many years ago 3 men sitting in a bar came up with the ideal of the "Pet Rock". The ideal of selling a rock in a box with air holes and instructions how to train your rock to an in the box thinker was the most foolish thing they ever heard, but it took America by storm and the creators became very wealthy.
The fact is so you use this method and go through a few hundred listings every year and only get one and that one deal makes you profit! My profit range has averaged $17,500 from this one single method and yes I only have averaged 3 deals a year from this method.
Doing this for 5 years.
Average profits only $17,500 per deal.
Averaged 3 deals per year.
Over 5 years produced $262,500 an average of $52,500 a year.
What a waist of time, but I like wasting time for profit. LOL.
Good deals are not found, they are created!
[addsig]
John,
Great info!
Thank you,
Scott
Quote:
On 2004-12-05 08:21, JohnMichael wrote:
When you go to http://www.realtor.com you need to sign up as a member. The membership is free.
As a member you can store a large number of properties in an electronic file cabinet. I do a search of possible properties that I want and file them away in a week or so I check my saved listing and look for
This listing is no longer available.
It may have been placed in escrow, sold or removed from the market.
When I see this, I check the subject property at the assessor's office for potential owners' name and mailing location and send the following letter:
Dear (Insert Customer Name),
I noticed that your listing has expired for your property located at (Insert address) in (Insert Location) and the listing agent may no longer be marketing your property.
We may have some interest in your property.
I believe there are several reasons that properties fail to sell:
* Property price
* Market conditions
* Repairs not done
* Marketing
* Bad listing agent
I am confident we can help you with your property at (Insert address).
Please call us if you have an interest in discussing the purchase of your property.
Sincerely,
xxesxx Hxxxin
(417) xxx-xxxx
(Assistant to John Michael)
Most of the properties that I have dealt with over 5 years of using http://www.realtor.com this way have been expired listings.