What Every Realtor Needs To Know About Working with Expired Listings

Armen Hareyan's picture
Expired Property Listing

Sometimes realtors work with expired listings. What's the best way to approach them and what types of media can real estate agents use to work with expired listings. Here is what realtors say from their experience, which they shared on Active Rain forum.

Nina Hollander, a Realtor from Charlotte, NC
I did work with expired listings when the market went sideways, but for three years now we have had an inventory shortage and very few expired listings in the areas I concentrate on. The ones who do are often not worth going after. When I did focus on expired listings I mostly did letters and post cards.

Susan Emo of Sotheby's International Realty Canada - Kingston, ON
Chasing Expireds is no longer permitted up here. The Sellers have spoken and now have a DO NOT CONTACT on their MLS listing. It is that feeding frenzy that happened and Sellers have made it VERY CLEAR that they are more than capable of reaching out to the Realtors of their choice. I am of the belief that chasing expireds lowers our standing in the community much like a certain type of lawyer.

Richard Weeks of All Star Home Group - Dallas, TX
Yes. I have found the best approach is:

  1. Stop by
  2. Phone call
  3. Written correspondence

John Meussner, a Realtor from Costa Mesa, CA
I have a unique marketing offering for expired listings (but from a lending perspective) that helps agents avoid the "typical" marketing techniques that the competition in their market is using. It's time consuming so I offer it only on occasion & only to a certain few business partners.

Joan Cox of Denver, CO
I have dabbled in it, but find it is easier to find sellers listing first with me versus overcoming the issues why the seller did not sell.

Michael Setunsky a Realtor from Woodbridge, VA
When I did Expired listings, I would send out a letter on the day the property expired and follow up with a phone call a couple of days later. I would also check properties that weren't relisted at the 30 day point. I would send another letter and follow up with that one. After that I would take the hint.

Annette Lawrence of ReMax Realtec Group - Palm Harbor, FL
I focus on expired listings in my target market. The process has multiple actions.

First, identify the listing that is going to expire. It easy because it is most likely overpriced, has an 'issue' and has been on the market 'a while.' Second, visit that house and measure it's potential. Third, after the feeding frenzy, leave a door hanger followed by a phone call, especially if the house was previously limited service. Fourth, while on the phone get the owner to negotiate one element with themselves. Then make the appointment. If they will not, that could be reflective of the real reason it expired.

Roy Kelley of Gaithersburg, MD
Knocking on the door and meeting people face to face is the best way to build relationships. It they are not at home. leave a door hanger with a personal note.

Melissa Jackson of Azle, TX
I just started working with expireds in my area. Must be very popular! The homeowners get frustrated because they have been called so many times. I started sending a written letter then visiting the homeowner. To have a better return I need to get on the phone first thing in the morning, before they get upset. It's a learning curve. I'm actually not comfortable calling them. I'm better face to face.. Once my husband is licensed I will have him call.

John Crosby of Real Property, Inc. - Marblehead, MA
Face to face is the best approach. You have made a personal effort rather than contacting with junk mail or a dinner time phone call.

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