Why do listings expire? Normally it’s because they are overpriced. Learning to prospect this important part of the market can keep your business running strong for years to come.
I recently sat in on a webinar conducted by Laura Duggan, the broker-owner of West Austin Properties and founder of MailYourselfARaiseIn30Days.com. A major portion of Duggan’s business comes from prospecting owners of expired listings. Since Duggan hates cold-calling, she has designed a very effective system for prospecting owners of expired listings: contacting them every three days using snail mail.
Why work expired listings? Duggan cites five reasons:
1. You can target exactly the listings you want and that fit your style of marketing.
2. The sellers have already identified themselves as wanting to sell in today’s market.