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How do you hold on to expired listings?

Dear Friend,

If you're in one of those markets that's slowing down right now, you probably have a list of sellers who aren't very happy. Some of them probably listed right about the time when sales were dropping off - but had heard wonderful tales of big profits from friends and family.

Now they expect you to get them the same big prices even though the buyers aren't there to pay them. If you haven't been able to do it, they may be thinking of making a change when their listing expires.

What can you do to hang on to those listings?

First, stay in touch with the sellers - even when you don't have anything about their house to report. Don't let them think for a minute that you've forgotten about them.

Second, keep educating them. Send out a monthly newsletter with reports about the overall market condition. In fact, this might be a very good time to prepare a new market analysis.

Third, make sure they know you're working for them. People who haven't sold real estate have no idea about the work you do behind the scenes. Some of them think you just sit at your desk and wait for a buyer to come along.

So send a report each month and tell them what you've been doing for them. Give them copies of new flyers you've made; direct them to their virtual tour on the web and show them how easy it is to find; tell them how many flyers you sent to out of town inquiries. Send them copies of any ads you've run. You can even send them copies of ads you've placed to bring in buyers in general.

Impatient sellers often think that their house hasn't sold because their Realtor hasn't been trying. So make sure they know you're doing everything possible - and doing even more than anyone else would do.

The market always turns around, so make sure you still have all your listings available when the buyers come back.

In the meantime, put some extra effort into your flyers and sales letters. Make sure you really are doing everything you can for those sellers.

Yours for success,

Marte

Marte Cliff, Copywriter