How to Effectively Reach Out to Expired MLS Listings
Outreach strategies that get callbacks from sellers who’ve already tried to sell.
Austin Beverigde
Tennessee
, Goliath Teammate
If you’re a real estate agent or investor, you know that expired MLS listings can be a goldmine for potential deals. However, reaching out to these sellers can feel daunting. You may wonder how to approach them effectively and respectfully, while also standing out in a crowded market.
Quick Answer: To reach out to expired MLS listings, start by compiling a list of expired listings in your area. Craft a personalized message that addresses the seller’s previous experience and offers a solution. Follow up with a phone call a few days later to discuss their needs further. Building rapport and showing genuine interest can lead to successful conversions.
Step-by-Step Outreach System
Step 1: Identify Expired Listings
Begin by searching your local MLS for listings that have expired. This can typically be done through the MLS platform, where you can filter listings by their status. Make sure to note the details, including the property address, original listing price, and the agent who represented the seller.
Step 2: Analyze the Listings
Once you have a list of expired listings, analyze them to understand why they may not have sold. Look for common issues such as overpricing, poor marketing, or lack of showings. This will help you tailor your outreach strategy.
Step 3: Craft Your Outreach Message
Your outreach message should be personalized and empathetic. Start by acknowledging the seller’s previous experience and express understanding of their situation. Then, present yourself as a solution, highlighting what you can do differently to help them succeed.
Step 4: Choose Your Outreach Method
You can reach out via email, direct mail, or phone calls. Each method has its pros and cons. Emails are less intrusive but may get lost in the clutter, while phone calls can establish a personal connection but may be seen as pushy if not done correctly.
Step 5: Follow Up
After your initial outreach, follow up within a few days. A simple reminder of your previous message can keep you top-of-mind. Be prepared to answer questions and provide additional insights about the market.
Costs of Outreach
The costs associated with reaching out to expired MLS listings can vary based on your chosen methods. Here’s a breakdown:
Email outreach: Minimal cost, mostly for your time.
Direct mail: Costs for printing and postage, which can range from $0.50 to $1.50 per piece.
Phone calls: Free, but consider the time spent.
Tools to Use
Several tools can streamline your outreach process:
CRM software: Helps you manage contacts and track follow-ups.
Email marketing platforms: Useful for sending bulk emails.
Direct mail services: Can automate the printing and mailing process.
Timelines for Outreach
The timeline for your outreach efforts can vary based on how quickly you act:
Identifying expired listings: 1-2 days.
Crafting your message: 1 day.
Initial outreach: 1 week.
Follow-ups: Ongoing, every 1-2 weeks.
Alternatives to Expired Listings
If expired listings aren’t yielding results, consider these alternatives:
For Sale By Owner (FSBO) properties.
Properties that have been on the market for a long time.
Networking with other agents for off-market deals.
Checklist for Outreach Success
Compile a list of expired listings.
Analyze reasons for expiration.
Craft a personalized outreach message.
Choose your outreach method.
Follow up within a week.
Track your contacts and responses.
Common Mistakes to Avoid
Here are some pitfalls to watch out for:
Being too pushy in your outreach can turn sellers off.
Using a generic message instead of personalizing can reduce your response rate.
Neglecting to follow up can lead to missed opportunities.
FAQs
What are expired MLS listings?
Expired MLS listings are properties that were listed for sale but did not sell within the contract period. These listings are often considered opportunities for agents and investors looking to connect with motivated sellers.
How do I find expired MLS listings?
You can find expired MLS listings by searching your local MLS database. Many MLS platforms allow you to filter listings by their status, making it easy to compile a list of expired properties.
What should I say in my outreach message?
Your outreach message should be personal and empathetic. Acknowledge the seller's previous experience and offer solutions that highlight your unique approach to selling their property.
How often should I follow up with expired listings?
It’s advisable to follow up every 1-2 weeks after your initial outreach. This keeps you on their radar without being overly persistent.
What if I don’t get responses?
If you don’t receive responses, consider revising your message or trying different outreach methods. Persistence and adaptability are key in real estate outreach.
