If you’re a realtor and looking to get listings, about the best thing to do, is to work on expired listings. Homeowners whose listings had expired from the multiple listing service, are a rich source of opportunity for getting new listings. The best thing to do is to set up a marketing plan that targets “expired listings”.
Here’s how! Start a marketing plan to get an appointment. There were a few ways of doing this. Let’s start by exploring two ways. To begin your marketing for expired listings, write an article about expired listings. Talk about homes that didn’t sell and the problems they encountered.
Have your article published in a local newspaper even if you have to pay to do it. Once that’s done, you can go to the second step. Start your next step by sending out a series of letters designed expressly for expired listings. Include a copy of the article in your expired listing letter mailing.
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Home sellers don’t always give you the full details of the property they are trying to sell. Although a professional inspector would pick up on any problem, it is expensive to hire one for each viewing. Thus, here are a few things that you can spot yourself, telling you to avoid the purchase.
Firstly, always look at the neighborhood. Are people seemingly leaving in a mass exodus? Ask people who live in the area whether it is a good place to live. Look at the land as well. If you notice that the yard is on a downwards slope towards the property, the foundations could be affected by rain water. Use your nose: bad smells in or out the property are a bad sign. Bugs and insects are a bad sign as well. Ask community members of this, as everybody always knows when someone else has pests.
Secondly, you need to know whether the property you are buying is a regular sale, a short sale or a foreclosure sale. Indeed, these properties tend to be the cheapest, but that is because they often require a lot of work or because the entire neighborhood is declining.
After all is said and done, only you can truly decide whether or not you want to purchase a home. Nevertheless, due diligence should always be exerted. You should never purchase a property that you didn’t have reviewed by a professional inspector. If you do find a property has significant issues, you have the option to simply walk away, or you can try to have the price decreased to compensate for this. Do be careful with this, however, as you don’t want to end up purchasing a money pit.