Searching Bright for recently expired or canceled listings and contacting the owner can be an easy way to get new business. However, you need to be careful that you are prospecting available properties or you could find yourself in violation of the REALTOR® Code of Ethics/Bright Standards of Conduct and possibly your state laws and regulations.
Here are 3 things you need to know before you start prospecting in Bright:
Check to make sure the property has not been relisted. When prospecting to see if a potential seller/landlord would be interested in listing with you, it’s important to do your due diligence. More specifically, if you farm Expired or Canceled listings to get leads, be sure to cross check the property in Bright to make sure it has not been relisted. Learn more.
Do NOT target Withdrawn listings in Bright. The Withdrawn status in Bright represents a listing that currently has a listing agreement in place. Instead, you should search for Canceled or Expired listings. Learn more about Bright statuses and how they may affect your prospecting here.
Consider the best way to contact the seller. Remember, a seller can get as many as 10-20 calls from agents as soon as their property expires, and may be turned off or frustrated by your pitch. There could be legitimate reasons why the seller decided to cancel a listing or let a listing expire, including their decision not to sell at this time. Consider researching and contacting the seller in a way that’s not as intrusive, like a personal letter in the mail with statistics and why you would be the best agent to help sell their property.
Bonus! Think outside the Expired/Canceled box with Remine. Remine is a map-based property search tool within Bright that combines data on people and properties to effectively target prospects ready to sell. It gives you the opportunity to find brand new sellers before anyone else. See who owns a property, who is living in it, what their mortgage balance is, when they are likely to sell, and more. Learn how to use this tool.
This article is directly from Bright MLS. All rights are credited to them. Click here for the original source.