Expired Listings in Manhattan: Don’t Make the Mistake of Labeling a Lead a “Dead End”.
Expired listing leads in Manhattan take time and energy to cultivate into clients and then more time and energy and plain hard work to take all the way to a closed client. But one of the major mistakes agents make is this: they give up too soon on a lead.
What information do you need realistically to have a viable lead?
Well to answer this question, it’s important to look at the mediums of communication available to us today. It’s not so imperative that you possess the phone number, email and physical address to be able to pronounce this lead viable. But so often without all of these ways to reach to a lead, we throw them out as a “dead end”. However, what about social media or a professional business networking site? What if all you have is a phone number? Couldn’t you still make a few attempts to reach out? Or only email? Try sending a personalized letter detailing how you would realistically sell their property.
What happens if a lead isn’t yet ready?
Let’s say you contact a lead, reach them, proceed to build trust with them but they simply aren’t ready to attempt selling again? It’s not a dead end or a waste. Why? Because they could find themselves ready within a week or a month and if you’ve already jetted and let them know you really only wanted the immediate business, they’ll turn elseware. Even more, recommendations are gold. If you burn bridges and decide someone is a dead end, you’ve lost their future business and most likely that of their friends.
How do you move the lead from potential client to client?
Simple: cultivate. There’s no other way to cultivate a lead then through time, energy, and work. No matter how many lead generating tools you have, you won’t move them past potential until you put in the effort (and yes it’s a lot of effort). This can look like phone calls, post card flyers, physical meetings and presentations and email letters. However it’s done, you build trust, encourage a real professional relationship, and provide the security needed for the lead to move to client.
So as you go after expired listings in Manhattan, don’t give up or label them as “dead ends” if they’re not ready to sell or are doubtful.
*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan real estate agents to prospect for expired listing leads and grow their business exponentially.