Act Now!
January 4, 2010
A message from Matt:
As most of you know we get 100% of our leads through referrals (that’s right, we spend $0 on marketing). Part of our lead generation is derived from the MLS. We have multiple searches set up that automatically send me updated short sale listings on a daily basis (I look at 15-20 per day). When I opened up my email on New Years Eve morning, I noticed something very interesting. I noticed that a high volume of leads were coming in as expired listings. You may say, “So what!”
What this means is that a very high volume of houses remain unsold after having been listed for (my guess) 3-12 months. This presents an opportunity for real estate agents to market and secure these “non performing listings”. Those realtors that have expiring listings need to take notice and do what is necessary to secure extensions. For the investors out there that are reading this commentary, expired listings represent an opportunity for you. Some sellers wont sign a new listing or extension. However, the seller still has an over leveraged house that needs to be sold. If there isn’t an active listing, do you think you should call the seller?
If you are able to enter into a contract with a seller where there isn’t an active listing, I feel very strongly that you need the assistance of a qualified realtor to get the property sold. I would suggest that you speak with the agent that previously had the listing to understand why the property wouldn’t sell. If you feel that they are qualified (and more importantly COOPERATIVE), you may suggest to the seller that a listing extension is in order. If you don’t feel that the listing agent will serve the needs of the seller, refer them to several agents that you have previously worked with.
NOTE TO REALTORS……DON’T YOU THINK WORKING WITH QUALIFIED INVESTORS IS A GOOD IDEA? WOULD YOU LIKE THE OPPORTUNITY TO SECURE A NEW LISTING WITH LITTLE EFFORT OF YOUR OWN?
We refer out MILLIONS of dollars in listings every year. Call me if you are interested in hearing more.
