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Hey, it's Joe Crump. I'm back. This is the next question.
"Hi, Joe. I love your materials. I've been a realtor for 16 years and I've been to more
real estate seminars than I'd like to admit, but what you're teaching is the most original
way of doing business for realtors I've ever seen. Thank you for sharing your experience
and knowledge. I heard you mention on one of your free audios something about an expired
marketing program that you designed. Can you tell me how it works? Thank you again for
all you do." - Rich in Seattle. Thanks for that positive comment, Rich. The
expired program is one of the organic methods that we use. Rather than going online and
doing all of that stuff there, what we're doing is we're pulling the expireds off of
the MLS and we're sending out a snail mail to them. The snail mail is very similar to
what we're sending out to for sale by owners. We're telling them that we're investors, we
want to buy their properties even though we have a license, we're not acting as agents
and we're acting as buyers for the property. Remember, if you've ever prospected for expireds
before, you know that they're not excited about talking to realtors, so when they get
a call from a buyer, they're much more receptive. Not every one of these expireds is going to
accept the offer that you give them, but it's going to open a dialogue with them and that's
going to make it a lot more likely that they'll list with you as well.
Also, if you can buy these properties, then a lot of them will sell to you under the terms
and conditions that we ask for, and once again, we're going back to those zero down structures
that I talked about previously ("Subject-To", "Multi-Mortgage", land contract, contract
for deed, lease option and cash assignments.) So, those types of deals and those types of
structures work very, very well for a lot of expireds.
When we send out a letter just like I was telling you which basically just tells them
who we are and what we're looking for - I've got one designed and actually, I talk for
45 minutes or an hour in one of my programs, but just to give you an idea of the process
works, when we send this letter out to people, they get an 8% to 10% response.
We've sent this all over the country to a lot of different states and a lot of different
areas, and we've had great success with it, and out of those 8 to 10 responses out of
every 100 that we send out, we were able to put together 2 or 3 deals. So it's a very
phenomenal, very cheap way to get leads. We're talking about this costing $40 to $45 to send
out 100 pieces of mail, and to be able to get that many leads from it - I'll bet not
many of your advertising schemes work as well as that.
Hopefully, that'll make sense for you. Hopefully, you can use that method to get you not only
investment property but also listings. I hope that helps.