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Postcard Marketing to Expired Listings
As real estate agents, we're in some difficult times for generating new business.
Some of the tactics that have worked in the past aren't working now and real estate
agents across the country are scrambling to find ways to create leads.
One of the ways my team and I have kept the leads pouring in is by modifying our
postcard marketing to expired listings. In the past, we have simply mailed a letter
to every expired listing the day they were dropped from the MLS. Facing plummeting
listing numbers, we realized that our approach was not working and dramatically
changed our tactics. I share the basic approach we took to get massive results from
our expired listing campaigns.
Step 1: First Postcard
In years past, all it took was one mailing to an expired listing. Generally we had
a 7% call back rate on our mailings and we were thrilled. However, with the national
media spreading doom and gloom, many homeowners are now convinced that the housing
market was horrible and would never allow them to sell their home.
Faced with this change in mindset, we started a three step campaign using postcard
marketing to expired listings in our market. The first mailing was a typical real
estate postcard marketing piece touting our experience and our team. While we don't
receive many calls on this piece, it lays the groundwork for what's to come.
Step 2: Second Mailing
Exactly two days after we send our generic postcard, we send a hand addressed letter
with a hand written return address. In this letter we explain that we know the media
says their home will never sell, but we can sell it. We include a printout with
market statistics and a resume describing our team and the success we've had in
their area.
This three piece mailing usually arrives in the homeowners' mailboxes about 5 days
after their home has been taken off of the market. This is generally enough time
for the onslaught of real estate agent marketing they will receive to dissipate
and allows our letter to stand out. But we're not done yet?
Step 3: Third time is the charm
Exactly one week after our second mailing, we send a third, jumbo sized postcard
to the homeowners. The front of this mailing exclaims in giant, bold type "We're
Not Going Away Until We Sell Your Home." On the back, we explain that while other
agents have already given up on them, we won't give up until their house is sold.
By the time the homeowners receive this mailing, they have stopped receiving other
real estate postcard marketing materials. At this point, our marketing stands out
and it's the third time in a week that the homeowners have seen our materials. It
works like a charm!
Paying For Postcard Marketing to Expired Listings
At this point, you may be thinking that our system sounds more expensive than your
current program - three times more expensive to be exact. It is, but with the success
we've seen with this approach, we've been able to cut down on our other real estate
postcard marketing.
Instead of blanketing a neighborhood with hundreds of real estate postcards, we
have significantly reduced our farming and expanded our expired marketing. The number
of postcards we send out has decreased, but our return on investment has spiked.
In addition, we are always keeping our eyes open for discounts and coupons for online printers so we can further
reduce our costs and increase our revenue.
I hope this article will help you with your postcard marketing to expired listings.
I'd love to hear your results and how you alter my program to beat your competition.
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