BrokerageIndustry News

Real estate agents find gold in expired listings

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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 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. 3. You avoid sending costly direct mail to strangers who aren't interested in selling now. Instead, your direct mailing program to expired listings is both highly targeted and...