The Great Expired Lead Hoax: Why Everyone Ignores the Real Estate Lead Goldmine

The key to growing your business is toLet’s say you’re new to the real estate game. You know how to list properties. You know how to present them for prospective buyers. You know how to sell. You’re good at building trustful, lasting relationships with the clients you have because you’re one hundred and ten percent committed to getting them the best deal you can.

People will tell you these are the qualities you need to be a real estate ace and they’re right – you do. So why is your business struggling? What are you missing?

The Fallacy

The truth is that all these things are not all you need. Many successful real estate businesses are founded on long-standing relationships between agents and clients who know and trust them. When they want to sell a property, there’s only one person they call. But these relationships have to begin somewhere. You probably have a couple of friends and family members who will happily list with you. That’s fantastic, but you need to be aware that you’re unlikely to make enough sales from them to keep yourself in business. Sitting around and waiting for the phone to ring is simply poor practice. If you want more listings, you need to go out and find them.

The Goldmine

The unfortunate reality of the market is that not all properties sell on their first listing. There could be a myriad of reasons why this happened: overpriced listing, unrealistic expectations, unwillingness for correct marketing of the home to its best advantage, to just plain old rotten luck. The key to growing your business is to realize that every failure is only an opportunity for success in disguise.

What Should I Do?

Start contacting homeowners who have previously listed with other agents. If you can sell their property when someone else couldn’t, who do you think they will contact next time they want to buy or sell? Expired listings are a great way of finding ready and willing clients who you can turn into repeat business.

REDX can provide you with the highest quality homeowner data and seller leads that will allow you to find more listings right away. Call us for more information about our services, or sign up today.

Are You Getting the Most Out of Your Marketing Budget?

Marketing Getting the Message outIf you are anything like most small business owners, chances are you look at your marketing budget a little bit like the way you look at your bill when you take your car in for service. There are a lot of figures and you’re not totally sure what all of them mean. They say they have to fly some of the parts in from Germany, but you know you’d better pay for them unless you want to find yourself broken down in the middle of a deserted country road one dark night. It’s money out for maintenance, a necessary expense. But there’s another way to think about your marketing budget.

What Does Your Budget Do for You?

First and foremost, it keeps your name out there in your local area, so that when someone is looking for a realtor, they know they can come to you. But that’s a very unambitious approach to marketing. What you really want is for people not to even look for a realtor. You want the first impulse of a person who has decided to move house or is considering buying an investment property to be to grab the phone and call you. They should have seen your face already that day when they opened the newspaper. They should have read your name the day before when they were buying groceries down the street. In other words, you want a marketing solution that lets you reach people, not just lets them reach you.

Getting the Word Out While Keeping the Money In

You can saturate your community with advertising if you want to, but that’s going to get very expensive very quickly. Smarter, more cost-effective marketing campaigns are targeted and needn’t break the bank. You might consider sponsoring a local event or sporting team. The latter is an excellent way to advertise. Not only does it show how much you care about your community, but for the price of a few custom uniforms, your business name will be displayed around your area and potentially beyond every week of the season!

Winning New Business with Serious ROI

By far, the best way to market yourself is going to be through prospecting homeowners who need to sell. When you get the job done of selling a home when another agent had failed to do so (expired listings), you have created the best marketing through excellent customer service. Referrals will lead to a long-term marketing asset as you building your sphere of influence in your community.

There are a lot of ways you can get your message out and make the most of every dollar in your marketing budget. The only limit to your reach is your imagination and perseverance!

Learn more about how to market to homeowners who need to sell at

3 Things Your Client Won’t Tell You: The Art of Working with Preforeclosures


As any experienced agent will tell you, working with preforeclosures can a tricky business. Your client is in a difficult financial situation and likely to be under enormous pressure, so you need to use all the tact and sensitivity you have at your disposal.  People in dire circumstances tend to be anxious to get out of them, they may not be entirely forthcoming about anything that could make their property a less attractive prospect – it is up to you to get the full story and make sure you know how to price their home correctly.  Make sure you know enough in the following three areas:

#1: Costs 

Ask your client about the outstanding balance of the loan and any liens on the property, but don’t leave it there. Do your homework and head over to the public records office to check for yourself. Remember to subtract this amount, as well as any insurance costs, from your valuation of the property so that you have an accurate figure.

#2: Repairs

The upkeep of any building costs money, and if a homeowner is being foreclosed upon, chances are they haven’t had a lot of cash lying around to make basic or even essential repairs upon their property for quite a while. Make a thorough inspection of the property, keeping careful note of any repairs that a potential buyer would need to make. You could even bring along a contractor to help you make estimates of the likely costs. Like the overheads, these necessary repairs will affect your bottom line.

#3: The Devil’s in the Details

Get to know your client’s situation. This is a basic part of any realtor-client relationship, but it becomes even more essential when working with preforeclosures. What are your client’s current circumstances? How did they end up in the position of defaulting on their loan? What steps have they taken and, more crucially, are they taking any steps to  remedy the situation? Being properly informed will protect you from being hit with any unpleasant surprises down the line.

Above all, remember to be sensitive. Your client is in trouble, but with a thoughtful approach, you can turn their preforeclosure to both your advantage.

2 Ways to Completely Revamp Your Expired Leads

With more than 12 years of experience serving thousands of agents prospect, REDX has a proven track record of helping agents get results. The top earners in the game rely upon it and use it every day. Hundreds of once struggling realtors have testified to how signing up for REDX literally transformed their businesses overnight. There are even some agents who attribute REDX with helping them move from the latter group to the former.

Screen Shot 2015-06-02 at 5.27.11 PM

hammer-and-nailsWhat these agents have all understood – and what we want to highlight for you today – that tools can only allow you to realize your full potential if you know how to use them. If you bought a shiny new unbreakable hammer, you still won’t get very far with it if you are trying to knock nails into wood with the handle! Similarly, anyone can subscribe to the best lead generation system around but won’t get far if they don’t know how to use it.

REDX delivers the best quality leads mined from immense amounts of data with finely honed algorithms. We scour county records, tax records, phone books, public registries and more to find, and organize it all into a clear and accessible format that puts the most likely leads at your fingertips each and every morning.

But that is just the beginning. At REDX, we work with you to make sure that you are using the tools we provide as effectively as possible.

So let’s focus for a second on expired leads specifically. You walk in to the office, you open your REDX Vortex®, and there are a whole lot of expired leads that all look promising. What do you do? If you have tried to pursue expired leads in the past and have not had much success, you probably need to reconsider your approach. We can only give you the broad strokes here, but there are two ways you might do that.

The first is to look at your communication. How are you selling yourself to the seller? Are you projecting confidence, authority, commitment, and intelligence? At REDX, we can show you the secrets of making that first contact count.

The second way is to research the property itself. The expired lead listing REDX gives you has all the data available, but there are some things you need to physically assess yourself. We teach you exactly what to look for so that you can pick a winner every time.

REDX is the number one source of expired, pre-foreclosure, and for sale by owner leads available. So Sign up to REDX today and take advantage of the industry’s most powerful prospecting tools.

4 Ways an Open House Can Open Doors for Your Real Estate Business

open_house_signHave you ever held an open house that fell absolutely flat? Where no one showed, or those who did show didn’t produce any leads at all? As a real estate agent, it can be disappointing and discouraging to feel that your hard work hasn’t paid off.

Don’t despair. If done right, an open house can be an extremely effective sales tool. Here are 4 tips to help your next open house be a smashing success.

1. Advertise strategically.

Promote your open house in the place where most buyers are currently looking – on the web. Post your open house on both national real estate sites and local classifieds like Craigslist and often there are local Facebook groups for neighborhoods. Send a note to everyone on your list of current or prospective clients. They might not be in the market right now, but they probably know someone who is.

2. Place signs everywhere.

Signs might seem old-school, but they still bring people in. House hunters who want to buy in a particular neighborhood will often drive around that neighborhood looking for houses for sale. Also, residents in the neighborhood may have relatives or friends who are looking to buy a home and will tell them about your open house when they see your sign.

3. Get leads without making visitors feel pressured.

Often people who come to an open house just want to look around. They don’t want to commit to anything, and they certainly don’t want to answer questions from a pushy realtor. But that’s no reason to let those opportunities slip through your fingers. Instead, have a sign-in sheet or a guest book near the front door that asks for the following:

  • Name
  • Phone number
  • Email address
  • Check boxes with the option of yes or no:
    • Do you have a lender/funding lined up?
    • Are you pre-approved?
    • Do you have a real estate agent?
    • Do you have a home to sell?

Allowing people to check yes or no lets them give you information for future use without having to discuss it with you. It also frees you up to make friendly conversation, point out the great features of the home, and make those all-important personal connections.

4. Make sure visitors leave with a packet of information.

Include neighborhood information and a local market data report with recent sales activity and average selling prices. Give them your business card and other contact information in the packet. Consider adding a thank you note or small gift for attending. This is a minor gesture that can have powerful results.

The open house is here to stay. Even with more buyers doing their own research on the web, nothing can substitute for actually walking through and getting the feel of a home. And these savvy shoppers, more than ever before, will appreciate and respond to an open house that provides them with a personal experience that they just can’t get through the internet.


The Advantage of Preforeclosure Listings

Anyone who’s been a realtor for a few years has witnessed some fundamental changes to the way we do business. In a lot of ways, we are still working under the shadow of the Global Financial Crisis, which had major implications for the housing market. In 2006 housing prices peaked and then started declining until they hit their lowest in 2012. Economists generally concur that it was the bursting of the United States housing bubble that led directly to the 2007- 2009 recession.

advantages and disadvantages

Many believe that the lending practices of large financial institutions caused the bubble. The fallout when bubbles burst was a big increase in mortgage delinquencies and foreclosures. This affected the economy more broadly, but has been of particular importance for working real estate agents.

When a homeowner defaults on their loan, the bank allows for a grace period between the serving of an eviction notice and the eventual sale of the property at a foreclosure auction. This grace period is given so that the owner has the opportunity to do whatever it is they need to do in order to get them out of trouble, including selling the property.

During this pre-foreclosure period a person’s best option is usually to sell, although they may not always realize it immediately. When you as a realtor approach someone in this position with an offer to represent them in the sale of their house, there is one main point you should emphasize: If the seller can sell the property before it goes to public auction, the seller will have minimized the damage to their credit rating and equity, making it a little bit less difficult to move forward with their lives.

As another bubble begins to form in the property sector, now is a good time to remember the advantages of pre-foreclosure listings: lots of investors in the market, lots of highly motivated sellers, and a ready list of where to find them with prospecting tools like REDX.

So don’t wait—sign up for REDX today!

Be Your Own Boss: Create a Working Schedule That Works

Success in real estate is simple, but it isn’t easy. It’s a simple thing to outline what you need to do, but much harder to make that happen.

Because you are your own boss, you have to be the one looking over your own shoulder. And you have to be the one to motivate yourself to produce day after day. One of the keys to doing this is creating and sticking to a schedule that will generate business on a regular basis.

A schedule is imperative. There is nothing sexy about getting into the office at 8:00 am and working until 5 or 6 o’clock at night. There is nothing glamorous about making phone calls or knocking on doors. But this is the engine of your business – setting up a schedule, sticking to it, and working hard.

So how should you structure your schedule to ensure success?

First and foremost, do what is most important first.

REDX What a 250K schedule looks like.

REDX What a 250K schedule looks like.

A portion of every morning should be dedicated to the most important part of your business – lead prospecting.

Why is it so important to do this in the morning? Because that’s when your motivation is at its peak. Waiting until later in the day makes it much easier to put it off in favor of other, more pleasant, and easier activities.

Spend 2-3 hours on the phone, knocking doors, or engaging in other lead prospecting techniques.

The result? The rest of the day will be taken care of for you – follow ups, appointments, showings, etc. Spending a certain portion of each day generating business is the key to filling your schedule with the activities that produce revenue.

Second, don’t get distracted by things that won’t produce results.
Screen Shot 2015-06-03 at 3.56.50 PMIn his bestselling book, The ONE Thing: The Surprisingly Simple Truth behind Extraordinary Results, Gary Keller gives the following tips for focusing your efforts to produce results:

  1. Go small. Don’t focus on being busy; focus on being productive. Allow what matters most to drive your day.
  2. Go extreme. Once you’ve figured out what actually matters, keep asking what matters most until there is only one thing left. That core activity goes at the top of your success list.
  3. Say no. Whether you say “later” or “never,” the point is to say “not now” to anything else you could do until your most important work is done.
  4. Don’t get trapped in the “check off” game.  If we believe things don’t matter equally, we must act accordingly. We can’t fall prey to the notion that everything has to be done, that checking things off our list is what success is all about. We can’t be trapped in a game of “check off” that never produces a winner. The truth is that things don’t matter equally and success is found in doing what matters most.

Even though it comes with enormous benefits like flexibility, independence, and freedom; being your own boss can be challenging. Sticking to a schedule is what keeps successful Realtors on top. Even in the toughest market, agents who maintain a consistent schedule take home a greater portion of the market share every time.

Realty Reality: 3 Signs You Need to Get a New Marketing Solution

All real estate agents need to think about how they market themselves. This goes way beyond the obvious choices you’ve already consciously made, like the design of the ads in your window or the logo on your literature. Little things, from the way you dress to the firmness of your grip when you shake someone’s hand, are a big part of how you sell yourself as an agent. That said, there are some key marketing decisions that you may want to pay attention to in order to set yourself apart from the pack. Here are three signs you need a new marketing solution, and some ideas on how to tackle them.

Bad Sign #1: Your Face is on a Bus Bench

Ah, old faithful! You know the sort of ad – a slogan and a photo, usually with a blacked out tooth or comical moustache drawn on it by some mischievous kids. It’s not a bad way to get your name out there, but it’s very tired and old-fashioned. It doesn’t tell people that you are a dynamic, creative go-getter. Why not try turning to social media? Apps like Tumblr, Instagram, Facebook, and Viddy will let you connect with potential clients directly, and show that you have your finger on the pulse of the modern world.

Bad Sign #2: There’s a Guy on the Corner Waving a Sign

RE_StreetSignThe only thing worse is if you had him dress up as a house… So tacky! You want to project class and sophistication, not reek of desperation. Even if you haven’t sunk quite as far as this major no-no, you might want to think about your branding. Make an appointment with a graphic designer to review what your signage says about your business. Is it saying what you want it say, or could your message be clearer? You don’t have to spend a fortune to communicate your brand-meaning effectively.

Bad Sign #3: People Need Quotation Marks to Find You on Google

If entering the words “real estate” and your town doesn’t bring you up on the first page of results, you’ve got a problem. You might want to consider shelling out for a featured listing, first of all, but you should ask yourself why you aren’t getting the web traffic in the first place. Is your webpage vibrant and attention-grabbing? Never underestimate the power of good web design to send people from your virtual address to your actual front door.

Whatever your marketing strategy is, REDX’s products can help you take your business to the next level. Contact us to see how REDX can boost your business today!

Preforeclosures: 4 Shortcuts for Closing in Record Time

Working with distressed properties has the potential to be an extremely lucrative area of specialty for any agent. There are some inherent difficulties, to be sure, and this is responsible for putting a lot of people off the idea of getting into the pre-foreclosure game in the first place. However, these complications are much easier to overcome than you might think. The fact that other agents are choosing to ignore the secret real estate goldmine is their loss – and your gain! Follow our shortcuts to learn how to make some serious sales.

#1: Inform Yourself

You shouldn’t be surprised to learn that owners of distressed properties might well be feeling pretty distressed themselves. They’re in a difficult financial situation, probably desperate for a way out, but they could also be very wary about making things worse for themselves. You could help them, but they need to trust you. How do you gain that trust? By knowing your onions!

Be able to explain to your clients all the options that are available to them. Make sure you understand the legal implications and requirements in your state so that the advice you give is rock solid. Having a team of experts at your fingertips is critical: attorneys, CPAs, loan managers, bank representatives etc. Remember that agents can be held liable for their advice, so you will be protecting yourself as well.

#2: Who You Gonna Call?

Screen Shot 2015-06-02 at 9.30.10 AMOnce you’ve hit the books and have your side of things covered, start finding out what other professionals in your area specialize in other aspects of pre-foreclosure. There will likely be tax implications for your client, as well as complex legal ramifications, so it is highly probable that they will need to consult an accountant and/or an attorney before the process is through. Be all over this. You should be able to recommend the top guys in town, and ideally have a good working relationship with them yourself.

#3: The Right Buyer

Buying a pre-foreclosure property can be as much a specialized business as selling them. Pre-foreclosures will be most attractive to investors, since they will be the kinds of buyers with the capital to move ahead with a swift sale and the flexibility to allow the seller time to move out of the property. Start cultivating relationships with people looking for great deals to get a foothold in the investment property market.

#4: Get Prospecting

You need the best lead generation tools with the most reliable data and up-to-date information to start finding those listings. REDX provides consistent high-quality pre-foreclosure data and leads as well as the tools to go with them. Give us a call today to find out why REDX is the best investment you can make.

3 Little Changes that Will Make a Big Difference in Your Real Estate Sales

They may say that the biggest part of success is just showing up, but in real estate, the biggest part of making sales is being the first to show up, and having all the right information. Follow these three changes to your routine and start seeing differences in your sales.

Be the First to Know about Pre-Foreclosures

Short-Sales and Foreclosures aren’t going away anytime soon. Even with the precautions that banks are taking, they just keep popping up and you could be the first to know about it. The REDX pre-foreclosure product will draw from specific sources such as county records to compile Notice of Default (NOD), Lis Pendens, and Notice of Sale (NOS) properties and get you on the up and up faster than your competitors. Imagine receiving automatic notifications about these properties instead of researching yourself. The extra time you’ll save will leave you with invaluable time contacting property owners and listing them.

Be Ready to Pounce on FSBO Properties

With the vast majority of For Sale By Owner properties eventually turning to an agent for help to sell, knowing when the tides turn can get you there first. REDX For Sale By Owner Listing Leads does the work for you by scanning websites and databases to update you on all the new FSBO listings nationwide. However it doesn’t just put those in front of you, it also updates you on when the owners decide to scrap the idea of selling the property themselves, so you can contact them quickly about putting it into your capable hands.

Have Your Expired Leads Updated Daily

Instead of dreading having to spend time researching to update your expired leads, let technology do the job for you. Not only does REDX Expireds cross-check the MLS to determine if it has been sold or relisted, but it also provides the information that may be missing such as contact information, including phone numbers that may be in the National Do Not Call Registry. Once you have all the information, REDX Expireds will also organize all the data for you, and allow you to add notes, appointment reminders and route planning to get you prepared fast.

Keep Your Leads Organized & Searchable

Screen Shot 2015-06-02 at 9.10.46 AMNot having to remember key information about leads is critical. What homeowner mentioned they were getting a divorce, moving to Texas or accepting a new government job? Having your leads in one place with advanced search features so you don’t have to remember anything just type in the key words and you can find the lead. REDX Vortex has several advanced features to keep you organized.

In addition to advanced search, it also features the “Lead Progress Ribbon” where you can know at-a-glance what leads you have actioned and what needs to be done. Delegation to assistants is easy with simple tags. It is not enough to have leads – it is the lead follow-up that most agents lose the big money on their lead investment.

Whether you’re a real estate SuperStar, a rookie, or needing to revamp workflow, following these three changes will prepare, update, and alert you so you can get in front of more potential properties first and start seeing more sales.