Expired Listings Chapter 04

Expired Rocket

Building YOUR Expired Rocket!

In our brokerage, we call it the “Expired Rocket”.  Here’s how it works:

At the heart of this special mailer/drop off package is page after page of testimonials.

The more you have, the better.

Remember what’s important to most expired owners: time and price. Highlight examples where you brought about a quick sale. Note any listings that sold above asking price.

Use testimonials that speak to the point of difference you bring to sellers, and how that enabled a home sale.

Pull together photographs of the homes. Use pictures of the owners you worked with. Let them do the selling for you!

If you only have a handful, start there and begin building your file right away!

If you work for a brokerage, you may be able to use testimonials about the company to bolster your collection, or to get started.

Reach out to past clients. Touch base to see how things are going, and simply ask if they would help. You might be surprised to find how willing people are to put in a good word.  If you have clients who you know had a great experience, schedule a call to do a brief interview. If you can, record the call. Just be sure to ask permission!

Make a habit of asking for quick testimonials on the spot. Catch people in the moment.  They’ll never be happier than the moment you sign a contract, close a deal, or hand over keys to a new home. Capitalize on that!

A simple tip is to use your smartphone to shoot a quick video or record audio. That way, you can talk freely face to face, and easily grab quotes and notes later.

Who knows…that in itself could be a special thing you do for sellers or buyers: shoot a short “highlight reel” of the big moments, or take a few pictures. Share the video or slideshow with them, as a little “thank you” keepsake.

Grab Attention to Guarantee a Response.

Once you’ve assembled the core of your drop-off package, you’ll need two more things:

#1 – A good cover letter to capture attention and make a bold statement separating YOU from others.

The cover letter we use tackles the price issue head on and asks: “Are you Sick and Tired of Being Told Your Home Didn’t Sell Because it was Overpriced?

The cover letter we use tackles the price issue head on and asks: “Are you Sick and Tired of Being Told Your Home Didn’t Sell Because it was Overpriced?

#2 – Be sure that you include a CLEAR and simple way for people to contact you. Better yet, give them several ways:

  • Web link to a landing page
  • Mobile number with a code to get more info
  • Text number with a code for more info

You don’t want to miss a call, or start a game of tag, so treat it like a sign rider. Give readers a way to “reach you” anytime, day or night, 7 days a week!

In our brokerage, we offer our agents Lead Capture landing page and mobile number. Both options capture a lead’s contact information. Agents get instant notifications on the go, and are able to follow up quickly.

Whatever contact options you include, TEST them! Nothing worse than a typo in a link, so be sure everything works the way it should beforehand.

A staple of many agents, stop trying to win listings by bashing the last agent.

Do NOT go in with the typical, “Your home was priced too high” either. That just annoys owners. YOU are the agent, getting the home sold is YOUR job. So give them a reason to want to work with you.

Perhaps you could offer a comprehensive marketing analysis. Show the owners what you would do to get their home sold without demanding a drop in price. Lay out the avenues your company uses to market listings. Review the home, property, location, and surrounding area for unique aspects you can bring to focus. Look for anything big or small that would catch a buyer’s interest, from a pool to a school, even an amazing sunset view. (yep, there’s a story there, but that’s for another day!)

Offer a Pre-Listing Review. Think a basic Free Home Valuation, only more in-depth. Walk through the house, thinking like an inspector. Note the condition of rooms, and make a short report highlighting improvements that would make their home more attractive to buyers.

Want to sweeten the pot? Have a virtual assistant give your pictures a once over with Photoshop or a similar image enhancing tool. You’ll score HUGE brownie points.

Speaking of photography, you should make a big deal about that with ALL home owners. It’s very inexpensive to have a little touch-up done, and the payback from better pictures is a proven outcome.

Be creative in your outreach to ANY niche specific owner you contact.

Look for a “pain” they are facing, and offer a solution. Psychological studies have shown that fear of pain outweighs the hope of benefit. Want to galvanize people into action? Speak to their pain, offer a solution, and watch the results!

Quick tip on communication: the older generation (who tend to be the owners of luxury homers!) read mail at the highest rate of ANY demographic in the country.

Next comes delivery.

Mastering Your Delivery.

You’ve put a lot of work into building the package. What can you do to guarantee they get it?

Manilla envelopes (the big 9×12 full size ones) are the perfect way to ensure your package will be opened. A handwritten address makes a big difference, so grab a sharpie.

Also, if you DO mail them, use real stamps. It will take a few, and real stamps in the corner are guaranteed to pique the owner’s curiosity even more. If you have an assistant, and a good sized list of expired leads, there’s another tactic you can use.

Put everything in a slim white box (buy from office supply stores locally or online). Label it as “Special Delivery” or give it a “Courier Service” stamp.Drop it off at the main door, or lean against a garage jamb where the owners will see it when they come home from work. Either way you choose, it’s all about doing something different.

We print all of our letters in Black & White. A 20 page letter at 7 cents a page costs $1.40 to print. That is roughly the same price of the postage. We can print Black & White for 1 cent per page and save $1.20. The postage to mail this is $1.41. So technically the printing savings pays the postage for another letter.

We print the Expired Rocket Mailing double sided. This helps save postage. And, people are used to reading both sides of a page, especially on a long letter.

You can print the letters on your own printer. However, I would not recommend it unless you have a high output printer. Most printers that you buy from Office Depot are designed to print no more than 100 pages at a time. After that the parts start to overheat and you may have problems. (I know this from personal experience!) I would recommend getting a couple hundred of these letters printed by a professional printer. We recommend DocuCopies