Is it time to Join the Expired Gravy train?

By
Real Estate Agent with Remax Associates

I have been trying to figureout my approach to expireds over the last two weeks.  I did some initial mailers and drive bys but I wasn't really getting anywhere.  After reading some posts on a couple of other forums, I decided to take a leap of faith and order an expired program all pre-packaged and ready to go.

 I received the packet today and I must say it was well organized.  It included a series of letters, postcards, scripts, goal and compensation trackers as well as motivational materials.

I know many of you are wondering why anyone would ever invest in something like this when you can do it on your own.  Well, the answer is obvious, rather than re-invent the wheel I would just as soon use someone elses wheel and save some time and effort.

I am curious to know your thoughts on this subject.  Are you the kind of agent that creates your own materials?  If so, how long have you been in the industry?  Are you a newer agent and are you winging it or looking for a system.

My local Cedar Rapids Iowa Real Estate market has about 190,000 people so although not a large city, I think focusing on this niche could prove to be profitable.

 Please feel free to agree, disagree or whatever.  I am interested in what others are doing, what's working and what's is not.

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Ambassador
1,860,573
Judi K Barrett
Broker/Owner, Integrity Real Estate Services -IDAB
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma

Give it a try and you'll have your answer.  Go with what works.

July 10, 2007 08:16 PM
Ambassador
1,855,029
Nestor & Katerina Gasset
Realtors, Wellington Florida Homes For Sale
International Properties and Investments LLC

Expireds is our niche. We have made a very good living with expireds in all slow and regular markets. It did not work for the hot season here because houses did not go expired! But now they do! That is good for us because we created a very good marketing program for expireds. Go for it but stick to it! It does not work right away, you have to sow the seeds. We also know we do not want to be the first or second Realtor, third time is the charm! Katerina

 

July 10, 2007 08:23 PM
Rainer
53,164
John Lockwood
Lockwood Real Estate
I hope it works for you.  I bought such a system once and didn't have good results with it.  CALLING expireds is a different matter, however.  That's where the gold is.  I got my first listing that way.  I should do it again. :)
July 10, 2007 08:24 PM
Rainer
1,725
Rick Hernandez
Remax Associates

Thanks for the responses.  The expired program I purchased strongly suggests the first contact be made by telephone call first, if you can't call them go in person and if not there leave a package and place on a follow-up mailer and post card system with visits or calles scattered in between. 

I am still reading studying it.

Anyone have a good fsbo system they know of.  I think I would have to work both in order to get the number of listing presentation I need to reach my goal.

July 10, 2007 08:30 PM
Rainer
150,059
Cynthia Sloop
Community Association Manager

Out of curiosity, who's system/kit did you order?  I have two different styles in my catalog, Lanard Perry and Todd Bates.  I had a descent response last fall with Lanard Perry's system.  This year, neither system is getting me the response I thought it would.  Best of luck with your prospectig.

July 10, 2007 08:28 PM
Rainmaker
95,494
David L. Britt
MBA
Platinum Realty, LLC
Rick, there are two ways to gain experience.  One you create it over time, the second way is you buy it from someone else and the time factor is less.  I have tried both and I have learned that learning from others is usually a very good approach.  Just my two cents!
July 10, 2007 08:31 PM
Rainer
38,274
Ray Perry
Realtor, CRS, GRI, e-PRO
CPS Country Air
Expireds are sooo nice.  They already know that they have to reduce their price.  The last agent may not have the heart to tell them.
July 10, 2007 08:31 PM
Rainer
1,725
Rick Hernandez
Remax Associates

Cynthia, I ordered Borinos expired system.  He had been an active member of another forum so I have known he was working on this for some time.  It recently rolled out and their has been some active discussion on how it's doing on "agents on line" forum.  You can search under borino.

I purchased after speaking to another agent who was very pleased with it and the results.  He did tell me thought that consistency was the key. 

July 10, 2007 08:33 PM
Rainer
1,725
Rick Hernandez
Remax Associates

Davin and Ray, thanks for the comments.  Any suggestions on a good fsbo program as well.  I don't think my area will generate enough expireds for me to only depend on this niche.  I would think working both hand in hand would be the way to go. 

Any opinions?

July 10, 2007 08:36 PM
Rainer
10,622
Ron Hackett
CRS,GRI,ABR,SRES,e-Pro
Coldwell Banker Heart of the Hills
I think whatever works go for you...go for it
July 10, 2007 09:05 PM
Anonymous #11
Anonymous
Anonymous

Rick, I love working expireds. After they get over their "mad" at not selling previously, I find that they are motivated and ready to work to get their home sold.

I use scripts I learned through Floyd Wickman's SMART program. Works wonders!

 Good luck!

July 10, 2007 09:06 PM
Rainmaker
198,592
Nick Good
www.TheGoodHomeTeam.com
The Good Home Team with Keller Williams Realty

I have never heard of Borino until now.   The program seems very nice.  I still leaning towards lanard perry first though.  

 

But the a system is only as good as its user... so basically the hidden message is just work.  If you work the rewards will follow.  

January 24, 2008 04:49 PM
Anonymous
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Rainer
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Rick Hernandez

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