How to Write a Stellar Letter to Expired Listings in Manhattan
Expired listings in Manhattan and Brooklyn offer a great resource pool for realtors wanting to grow their business. But how do you go about prospecting to those listings to try to bring them on board as clients? You can reach out initially in a number of ways, including cold calling, email campaigns or even in person. But another great way to reach out is by sending a professional but personally tailored letter. You can drop this off or pop it in the mail. Here are a few tips for writing these stellar letters to expired listings.
Send immediately
You’ll want your letter to go out to the expired listing the day the listing expires or the day after to have a good chance of catching the seller’s attention. They’ll be swamped with eager realtors trying to claim their business. So send right away. A good tip to be able to do this repeatedly for multiple expired listings is to have a letter template ready. Fill in the personalized portions for each client and send them out!
Cultivate empathy
Reaching out with empathy is crucial in order to stand out in the crowd. Sellers of expired listings are most likely frustrated, confused, or downright mad that their listing didn’t sell. They might be wondering what went wrong. They might consider what their previous agent did or didn’t do well. So that’s why it’s important to hit a tone of understanding. Mention that you understand this is tough and confusing. Express how you understand how frustrating it must be to have put so much time and energy into trying to sell this property with so little results. If the sellers know you are on their side, it will help them trust you to successfully sell their property.
Describe your marketing plan
After you speak to how this is a hard blow for the sellers, transition into your marketing strategy. Here, you’ll want to offer some free insight into why you believe the property didn’t sell the first time around. Do you believe it was priced too high initially? Tell them why. Or do you think the curb appeal or other aesthetics of the house were lacking? Explain that. And most importantly, explain why you will be able to sell when another realtor couldn’t. What unique skills do you have? What’s your track record like for sales? Go into depth and be specific about why you are qualified. It’s also a good idea to touch on an actual concrete plan to sell their property. Having a plan will go a long way to assuage the sellers’ doubts.
Tapping into this vast resource pool of expired listings is a great way to obtain more clients and keep building up your real estate business.
*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan and Brooklyn real estate agents to prospect for expired listing leads and grow their business exponentially.