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.
Good luck!
My Real Estate team closes well over 100 transactions a year. We keep a review site up to date to help other real estate agents make informed decisions on their vendors and suppliers. You can read our Real Estate Agent Deals and Reviews here.
[tags]Real estate Postcard Marketing, Postcard Marketing to Expired Listings[/tags]
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