There’s always something to howl about.

Socialist need not read –> Like Big Oil –> Big Expired Program; windfall profits

I’m greedy!  I’m an extremist!  I am conservative!  I am a capitalist!  Haha.  I love money!  2010 marks the years (not Karl Marx silly)  I mean marks the calendar for the 2010 to become the listing king.  Between website registrations, referrals, & and windfall expired letters I set out to fundamentally transform Worthington Realty from small hometown broker, to completely dominating the local market.  Below I will share the expired program statistics I am using that has fundamentally transformed Worthington Realty from nay to yay; or should I say mediocure to maybe Russell Shaw like (in the next hundred years).

So here are the expired numbers!

I have sent out 92 mailings

I have received 8 call back

I have listed 5 priced to sell quickly

I have 1 closing in the pipeline from expireds

92 mailings / 8 call backs = 11.5% Wow!  I mail out 100 and 11.5 will call back!  Sweet!

8 call backs / 5 listings = 62.5% of call back I am listing.  1 listing I turned down because of price, 1 listing I didn’t make the cut, and 1 call back canceled the listing appointment plans to keep for home for now.

92 mailings / 1 closing in the pipeline = 1.08% are closings  Average closing say $4k – $8k on the listing side.

92 mailings / 5 listings = 18.4 letters to get a listing.

My data is only 92 mailings that I have selectively sent expired letters to.  My initial mailing costs $1.52.  If no phone call, I then send out a post card every week for 12 weeks.  If still no phone call I leave it alone.  Each post card is $0.55  Most leads call within the first 4 – 6 weeks.  I have no idea why I am sending all the way out to week 12 (smirk)

I will update with more statistics in June, 2010 which will better quantify the data.

Do you currently have an expired program?

What are you thoughts on what works and what doesn’t?

Thank you taking time to read this capitalist post!  Big Expired Program; Windfall profits!