Posted by Michael G on April 09, 2003 at 24:27:25:
I used to use a very “emotional” type letter. Now I just use Joe Kaiser’s rent to own letter. goes something like this…
"happened to notice your listing recently expired if this is the case i was wondering if your home would be available on a rent-to-own basis.
If so give me a call"
well…that’s the short version and people understand it. If you try to explain all the L/O crap and how you will put a tenant in the house, set up a land trust, and have a third party collect the payments…GUESS WHAT NO PHONE CALLS…
Letter to Expired Listings-HELP Please! - Posted by Patrick-NY
Posted by Patrick-NY on April 08, 2003 at 08:45:34:
Hi all-
I have a list of recent expired listings from my Realtor and I want to send a good, solid letter explaining the benefits of a lease/option. I’ve tried to create my own letter that is emotionally appealing and informative to prompt a phone call from the seller, but I’m not having much luck!
Can someone PLEASE post the letter they use to generate calls from expired listings? I would be very grateful!
I have been mailing about 600 letters each month, I get 80 phone calls (average)and close 2 deals per month.
I don’t say in the letter anything about L/O, I only tell them that I am interested in buying. Sometimes the sellers want to cash out. I asked a seller how much she’d take if I closed in less than 30 days, she answer 80k (FMV 120k). The house is rented for 1250mo.
I am closing next week!
Send me an email and I can send you a copy of the letter I use.
Most sellers have already decided what they’re going to do next before their listing expires.
So, don’t expect a huge response rate. It’s a numbers game, just like everything else.
If you’re starting out and short on cash, you might be better off door-knocking or calling the ones that are in good areas/meet your criteria for the “ideal” property. This way, you consolidate your energy and focus on the best prospects.
understand that you are one of probably a dozen investors whose mailings hit there box after the listing expires. plus every realtor in the area is solicitng them to relist their home with them.
be simple. be direct. and get noticed.
BMP