You know by my articles and coaching systems that the expired count goes way up the first week of a new year. Here is a great letter to send those expireds.
City, ST ZIP
I researched the properties that did not sell last year and I found that (insert property address) was one of them. After the years of selling my client’s properties in (your city/area), I have come up with a checklist that almost guarantees success. If you spend a few moments with this list and apply them to your personal situation, I promise that it will lead you to a plan of action that spells success.
1. Are you sure you want to sell? This market is being driven by sellers who have to sell. Banks try to price their foreclosures at wholesale and short sales also result in wholesale prices. However, the reason my sellers can compete with these is that they realize we will make up any loss on the eventual purchase. For my clients who are not re-purchasing another property, they are moving their equity into a faster moving investment vehicle.
A. If you are selling a $300,000 property and take a 20% market reduction, the $500,000 home you are buying has also taken the same reduction. Can you see where a great marketing system on the sale and a tireless and smart acquisition program can net you $40,000 and get you into the home or investment property that you really want?
B. If you want to wait out this market, you will lose the ability to perform the magic above. However, it is worse than that. Not only do we have continuing downward pressure that may last into the end of 2010, but it may take years on a slow road to recovery. It may be many years until your goals are achieved. Once again, maybe your goals are not clear, and this may be no market for you.
C. Renting may be an option. Most of my clients do not take it because of the time involved per 1B above. However, renting can be an insidious time and money robber. Did you know that the long-term expenses of a rental, not including your payment, is approximately 35% of rent? When you subtract 35% from your rent and subtract your payment from your rent, you may be making nothing or worse have negative cash flow while experiencing the joys of being a landlord. The real loss can be from the further loss of equity in a poor market and the loss of any investment return on any equity that you might have in your property.
D. If you can just stay put and be happy staying put for the next 5 years, then that is a justifiable option, unless you believe you can better your net worth with 1A above.
2. No move should be accomplished without your goals being discussed with a real estate agent that has a lot of experience. I pride myself on finding out what your goals are and then developing a marketing plan that is customized to achieve those needs.
3. Never re-list with the same agent again. The question should be “What are they going to do different?” Everything they know how to do has already been done. You need new types of marketing and a fresh perspective. Have the attributes of your property been properly promoted to the right buyers? Let me show you how to do this. Do you think you might be saving time because your current agent is already set up with sign and promotion material? I can have new types of promotional material, signage, direct mail, flyers, websites, and search engine procedures up and running in two business days. I can have your first showings in four business days. I will promise to be in contact with every top real estate agent in this area who has ever sold a “like kind” property in your area in the last three years. Your property will be “top of mind” with every experienced agent who works your demographic.
4. I will prove to you, therefore can prove to a buyer, why your property is a good value for this market. I know all the inventory for sale. I want to increase your price for the little advertised attributes of your property. Do you have superior square footage, quality, garage space, yard size, location, and/or appeal? Have these attributes been properly promoted? I want you to be realistic about your price based upon the competition, but you must be aware of the competition before you can make any decision. A buyer must then be interviewed. Based upon the buyer’s needs, your property must be demonstrated as to how it meets those needs. We offer the best buyer services in the area. We attract many more buyers than any other agency that I am aware of. We spend much time with these buyers, then only show them properties that meet their needs. We spend time learning your property and the competition’s so we can successfully demonstrate the true value of your property to our buyers.
5. Seasonal marketing is a myth. Waiting for spring is a myth. You see, you own a commodity. When more property is available (spring), you have more competition. Why not contact all the hungry buyers now, while inventory is relatively low?
6. Get educated. I offer a free service called a “Pre-Listing Consultation.” I will give you all the secrets of a successful sale. You can then decide correctly, with the correct information. Even if you decide to re-list with your same agent again, go ahead and share my secrets with him/her. I have always believed that the more you share, the more comes back.
7. “But I am related to my agent” or “But he/she is my friend!” Sure, I really do understand that. It is probably true that you do not make that decision regarding other important decisions. Decisions regarding attorneys, accountants, doctors, or financial advisors are usually based upon successes. The same holds here, but I am a realist. If you have a friend or family involved in your goals and feel bad about using my services, I can give them a portion of my commission after close, if that will help you mend fences.
8. I have over 50 marketing and service items that I believe might not have been done on your home. I invite you to call me. My personal phone number is 815-929-9258. My email is firstname.lastname@example.org.
Here is my promise. I will not ask for a listing unless I know your goals, have creative ideas to achieve those goals, and I am then able to sell your home. If I do not hear from you, I hope you will accept my call. I am interested in achieving your goals.
P.S. Please go to www.waltersanford.com/testimonials for your neighbors who have experienced a truly customized sales plan.