On my drive into work, I notice all the unforgettable signs of Spring; the multitude of robins hopping about, fields of bright yellow daffodils lining the road and of course, more and more “For Sale” signs going up in my neighborhood. It’s encouraging to see positive signs of improvement in our market; especially, when many of those “For Sale” signs are soon capped with an “Under Contract” rider just a few weeks later. As these seasonal reminders continue to pop up with each passing day, I’ve decided to focus this month’s CAM blog post on Farming Expired Listings, a popular topic for this time of year. Here are step-by-step instructions to farm expired listings:
Step 1: In Matrix, perform a search within the area that you wish to farm. You should only have the location field(s) as part of this search. The Status field should be left blank.
Step 2: After running the search, save it as a New Saved Search.
Step 3: Go to My Matrix and open the Saved Search.
Step 4: Perform a Market Update – click the Search name, then click the Market Update button. Select Update Type as New and Status. Go back as many days as you want but your results should not exceed 500 listings.
Step 5: Sort the results by Status, selecting all of the Expired listings.
Step 6: Sort a second time by the address. This will allow you to quickly go through the list to find any duplicate addresses. If there are duplicate addresses found, then the property has been relisted and is not a True Expired. You will want to uncheck these.
Step 7: Keep the True Expired listings by clicking the Keep button.
Step 8: Print the mailing labels by selecting Mailing Address Labels from the Report button.
Optional Step 9: You may also go to the Search Selected For box at the very bottom right of the screen and select Tax, which will take you to the Tax tab and display the corresponding tax records.
As you all know, our Matrix system is very robust and chock full of data. Knowing how to mine that data can be daunting but I hope these simple steps to farm Truly Expired listings will help grow your business, pun intended. I encourage you to look for more creative ways to use Matrix in your Marketing. If you would like more tips and tricks, please feel free to reach out to your local Client Alliance Manager for an office visit.