Today, I am finalizing plans for a new method of building my business. Since farming mailers are expensive and not very effective because they lack personal contact, I was trying to come up with a way to make personal contact with potential clients. The downside here, of course, is that you can waste a lot of time cold calling people who may have no desire to move or buy or sell a house. Of course, this leads to pursuing expired listings and homes for sale by owner, since these individuals clearly have a real estate need that can be met. The complication here is that no agents put their sellers' phone numbers in the MLS for this very purpose. When their listings expire, they certainly don't want another agent contacting their clients. The numbers are also not in the tax records, and most are unlisted. Even if you can find a phone number for these sellers or sellers selling their homes themselves, most people are on the Do Not Call List, and fines for calling these numbers can be HEFTY.
So, my new plan is the hand-deliver my packets specially geared toward FSBOs or Expireds every morning. My goal is to deliver 100 per month. Originally it was 5 per day, but most days there are not that many new expired listings. Most expire at the end of the month. After the initial face-to-face meeting (planned for early morning to hopefully catch sellers before they go to work), I intend to follow up with letters.
Tell me, what variation of this plan works for you? If you are a consumer, tell me if you think this would be an effective way of reaching you.
Long & Foster Realtors Georgetown Sales 1680 Wisconsin Avenue NW Washington, DC 20007 www.walkerhomes.lnfre.com
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I strongly suggest you going to a Brian Buffini "Turning Point" Event. Buffini and Company are amazing!! I enrolled in their program a year ago, and I completely changed how I am doing business. He teaches you how to reduce expenses and generate more referrals. Check them out or email me for more details (I don't work for them!)
Will be interested to hear of your response to this approach.
Shari, I would definitely give them something of value - preferably a 'teaser' to contact you for the full report or whatever it is to provide to them. We currently use postcards with information about our free report. They can get it at our website or by calling our toll free #. Good luck!
Shari - I have delivered packets by hand to FSBO's as early as just last fall. With 18 years in the business I still will do whatever it takes to get the job done with the current market conditions. I predict you will be fairly successful with FSBO's many of them will receive mailers, maybe a phone call, but rarely does somebody in our business get the up the nerve to actually go meet the dreade FSBO face to face. If I got to see them (they answered the door) I was just above 50% for acquiring that listing. Hope your numbers run that good or better, and you will find that hard work does pay in this business. If you sit and wait for it to come to you, you'll do fine in a good or great market, but you'll find yourself soon looking at the classified section of the newspaper wondering if maybe there is something else you should be doing with your time that might be more productive if you just sit around in a slow market.
"After the initial face-to-face meeting (planned for early morning to hopefully catch sellers before they go to work), I intend to follow up with letters."
Catch me on my way to work, and I will never talk to you! I have kids that have to be dropped off, late, still grumpy.
IMHO!
John,
What time of day did you typically drop off your packets?
Shari
Keith,
What does IMHO mean?
Shari
IMHO - In My Humble Opinion
I also have just recently decided to try to get some business from FSBO's and expired's. I think that delivering 100 a month is a goal that is way out of reach, but i don't know anything about your area. For expired listings, I don't want my visit/phone call to be just a blur with the other 15 + calls that the homeowner will get that first day. I also don't want to show up on someone's doorstep in the morning because everyone is in a hurry. During the day won't be effective to meet the homeowner face to face because most are working. And in the early afternoon until bedtime, most homes are chaos; kids getting home from school, making them do chores and homework while mom/dad is cooking dinner, then comes bath and bed. I plan on waiting until the weekend to avoid making the sellers mad. I am a new agent so I don't know if my theory is going to work or if I will fail miserably, but I'm willing to try. Please let me know how your plan works for you!