The Real Estate Industry is HUGE and is a golden opportunity for real estate agents. National average home sales exceed $200,000.00 and real estate commissions are big and plentiful.
No wonder so many people are getting licensed as real estate agents. And why not? You can make a lot of money selling real estate. But being licensed is only the first step, as more and more people are getting licensed to cash in on the opportunities.
The Second Step.
The most successful real estate agents have lots of listings. Although getting them is easier said than done, you can do it if you have a good real estate listing system. With listings you triple your chances of earning commissions and bonuses. When the listings sell you'll be paid a listing fee, a sales fee, or both. Conversely, if you don't have listings you'll only get paid when you sell a property.
A system that some work to near perfection focuses on Expired Real Estate Listings, which are a great source of leads. You don’t have to spend a lot of time or money prospecting for them, as they're always just a couple of keystrokes away.
Go ahead, let’s try it right now! Log onto your Multiple Listing System service, print out an update report and wah, lah! In seconds you'll have a complete update of all the expired listings for any time frame you want.
The MLS update report will provide you with just about everything you need to know to relist expired real estate listings. You can get the seller's name, mailing address, property address, phone number, type of property, current asking price, price reductions during the listing period, how much the taxes are and anything else that you even think you might want to know about these properties.
Unlike fsbos, cold calls and other lead generating systems, owners of expired listings are almost always warm, responsive prospects. Also, they are typically still Realtor friendly and are already sold on the idea of doing business with a real estate agent - again.
But wait a second. Although expired real estate listings are easy to find you still need to know what to do to get them.
Converting Expired Listings to New Ones
Converting expired listings to current listings is like most other things. You have to have the right tools and skill set to get the job done, or else you end up wasting lots of valuable time and money. In this instance it could cost you tens of thousands of dollars in lost commissions.
Owners of expired listings are as close to a captive audience as you're going to get in real estate. Many still want to sell their properties and may be tired of being stuck. Stuck with bad tenants, double mortgages, property taxes they'd hoped to avoid having to pay.
Sure, some change their minds and decide not to sell. But many are still primed to relist again and are waiting for the right Realtor with the right approach. That can be you as easily as anybody else. But you have to come prepared, or don't come at all.
With so much at stake and so much money to earn do yourself a favor and get yourself a real estate listing system. Even as you read this agents with systems are getting listings. What’s that phrase again? “He who hesitates _____!
Without a system of some kind you might be yet another person who tried and failed. But with one you can become an impact player and making a good living doing what you want to do.
Remember, owners of expired listings have a problem that you can help resolve. But in order to get their business you must come with your "A" game.
If you don't have a real estate listing system you should get one. The few dollars you spend now will be returned a thousand times over and may prove to be one of the best investments you ever made.
Lanard Perry is the author of "Farming Expired Listings" Your Personal Guide to Real Estate Listing Success. Visit his site at http://www.farming expiredlistings.com for a FREE Sample Chapter.
