Has anyone tried direct mail to expired listings? We've just recently started and I'm wondering if anyone else has experience with this and what the results were?
Not really. We've had a few calls, but no deals have come of it. The realtor who was providing us the listings is working on getting us "soon to be expired" listings so we can contact them right before expiration, to keep them from re-listing.
It takes a lot of patience, this business. We've been at it for over 3 months and have only done one small flip for small dollars! I don't think I'd recommend expired listings though...
Are you having luck finding flexible sellers? If so, how are you finding them? My partner and I receive calls all the time because of our bandit signs, and we make calls as well. I don't know if we're letting deals slip through our fingers or if the motivated sellers are just that difficult to find!
Expired listing are not necessarily going to be motivated.
Now if you could figure out how to get the list of expired for only those listing that experienced a price reduction or was listed as Handyman or FixerUpper or Must Sell.
Those should be motivated expired listings.
Now that I have said all of that I think that I am going to have to try to get a list like that. It should be a good one however it will also be small.
I agree. The response rate with expired listings are very low and not very motivated (although one would think they would be). Most of the properties are dogs anyway.
has this been working for you?
Not really. We've had a few calls, but no deals have come of it. The realtor who was providing us the listings is working on getting us "soon to be expired" listings so we can contact them right before expiration, to keep them from re-listing.
It takes a lot of patience, this business. We've been at it for over 3 months and have only done one small flip for small dollars! I don't think I'd recommend expired listings though...
Been there, done that. Not a great response. And generally the responses you get are not flexible sellers anyway.
Are you having luck finding flexible sellers? If so, how are you finding them? My partner and I receive calls all the time because of our bandit signs, and we make calls as well. I don't know if we're letting deals slip through our fingers or if the motivated sellers are just that difficult to find!
Expired listing are not necessarily going to be motivated.
Now if you could figure out how to get the list of expired for only those listing that experienced a price reduction or was listed as Handyman or FixerUpper or Must Sell.
Those should be motivated expired listings.
Now that I have said all of that I think that I am going to have to try to get a list like that. It should be a good one however it will also be small.
I agree. The response rate with expired listings are very low and not very motivated (although one would think they would be). Most of the properties are dogs anyway.
I thought expired listing means people not getting thier over-priced contract...maybe the lousy rate of response.