Write An Effective Letter Prospecting to Expired Listings
One way to reach out to expired listings this winter is to send a good, old-fashioned letter. While you’ll want to follow up with post cards, flyers, calls, and emails, this letter can be a great and effective way to start. Follow these tips to write the best letter possible.
Open warmly
Start with a warm greeting. This doesn’t have to be long but make it personal and empathetic. These sellers are most likely getting many of these initial letters or flyers. They are also frustrated their listing expired and wondering what to do now. So let them know right off the bat that you understand their frustration. Your warm and caring tone will help you stand out from the crowd.
Tailor to each individual seller
In the next paragraph, discuss why you believe their home didn’t sell the first time. Point out (gently) specific issues you see that could have led to their property languishing over time. Don’t make general, blanket statements here. Rather, explain why you think the listing photos were lackluster or the marketing strategy of their former real estate agent wasn’t up to par. Let them know you see what went wrong. This will go a long way in building trust. The sellers will be able to see you are spending time looking at their problem and how to best solve it.
Describe your marketing strategy
This part doesn’t have to be exhaustive. However, if you believe you have a certain talent or skill that will benefit them and help them sell quickly, touch on that. Circle back to any issues you see with the first attempt and then broaden that to include how you will problem solve those areas. Be specific in your examples. For instance, rather than writing, “I will market your property successfully,” instead write, “I would hire a professional photographer to take listing photos,” or “I would create beautiful listing graphics to post on social media channels to boost engagement.” Perhaps you have a strategy for hosting an open house with a sign in sheet and a good follow up plan. Or you have ideas for a couple minor home improvements that would make the listing more competitive with nearby comps. Include details such as these in your marketing strategy section.
Close it out with gratitude and a call to action
Finish your letter warmly, just like you started. Thank the seller for their time and patience in reading. Provide your contact details and let them know you are available whenever they decide to re-list. Perhaps give them an option for an easy, low-commitment next step. Something like, “Contact me today to set up an initial, no-commitment consultation where I can explain my marketing plan in more detail.” Leave them with a succinct and grateful ending and sign off.
Highlight how trustworthy, competent, and knowledgeable you are in your initial prospecting letter with these tips. Stand out from the crowd and gain more expired listing leads as clients.