Generating listings

[Tim7332]

Anybody know of a direct mail system that works to generate listing leads?

[webmaster]

What about copywriting a letter targetting soon to be expired's? Appeal to their sense of dissatisfaction with their current listing agent, and praise yourself and how fast you can sell thier home.

What I would like to know more specifically, is anyone have a system of harvesting soon to be expireds so that you can get to them right before they expire.

[judyo]

We can't contact them in our area until they are expired. I simply look at my daily hotsheet & try to get my postcards in the mail ASAP. I used to target a smaller area & drop off information at each home. Too much hassle today & I always figured any other agent doing the same thing & coming after me could easily take my stuff.

Now I target a larger area so just use my postcards, letters & my newsletter.

[webmaster]

What about mailing a few days before they expire? It takes a day or 2 to get there right? Hehe

[AaronSOLD]

On my MLS at least it does not publish the expiration date until it actually expires.

[judyo]

Like Aaron said, we never know when a listing is going to expire. Also, just because it expires doesn't mean it hasn't been relisted with a new MLS #. So not only do I have to check the expireds, I also have to make sure they haven't been relisted.

Some agents will let a listing expire to give it a new MLS # (which brings it up on the daily hotsheet & automated searches as a new listing). Also, some sellers have already contacted their next agent & have everything ready for the new agent to relist as soon as the listing expires.

If I didn't do my homework & sent out a postcard that the listing agent finds out about I could get into trouble. I have to pretty much prove that when I sent it there was not an active listing at the time.

[Tim7332]

Like Aaron said, we never know when a listing is going to expire. Also, just because it expires doesn't mean it hasn't been relisted with a new MLS #. So not only do I have to check the expireds, I also have to make sure they haven't been relisted.

Some agents will let a listing expire to give it a new MLS # (which brings it up on the daily hotsheet & automated searches as a new listing). Also, some sellers have already contacted their next agent & have everything ready for the new agent to relist as soon as the listing expires.

If I didn't do my homework & sent out a postcard that the listing agent finds out about I could get into trouble. I have to pretty much prove that when I sent it there was not an active listing at the time.

Do you get the best results from expireds?

How about mailings to FSBOs and just farm areas?

[AaronSOLD]

Don't know about the rest, but farms take a while (i.e. a year or more) to pay off from my experience.

[MarcinSarasota]

I agree with Aaron that farming does take a while. I have not done it well myself but have seen numerous agents dominate their particular farm area and make alot of money. It takes a while to get there but it is a good long term plan.

I am starting to work towards that. Can you imagine how nice it would be to get calls for listings because you are the expert for XYZ neighborhood? I share an office with a lady that has been farming a particular area of Sarasota for years. Her listings are lay downs. She rarely ever has to compete with other agents in getting the listing.

Farming won't produce immediate results so you need to also have a lead source that will get business today (FSBO's, hot buyers, expireds, etc.)

[Philadelphia Realtor]

I began using Home By Design last fall: http://www.homebydesign.com/current.pdf

It's a combination of any/all of the following:

1. Postcard (Home decor or recipe) every other month
2. Magazine (52 pages of Food, decor, travel, & garden...I call it a mini Architectural Digest) every other month
3. Calendar at year's end

The magazine can be a pricey program...particularly because I produce custom four color ad pages for each magazine issue. As a result, I only send it to clients and a limited high-value areas. While it hasn't generated a sale, yet, it is getting noticed and is a phenomenal image builder. In my opinion, any and all direct mail is a marathon, not a sprint, so it takes time and persistence.