How to Find Expired Listings: Strategies for Real Estate Agents

Expired listings are a hidden gem in real estate, offering agents an opportunity to connect with homeowners who are still motivated to sell but have experienced challenges in the process. By finding and converting expired listings, you can build your client base and establish yourself as an agent who delivers results. In this post, we’ll explore the best strategies to find expired listings and how to effectively engage with these leads.

Why Expired Listings Are Worth Pursuing

Expired listings are a unique type of lead because they involve homeowners who are still interested in selling but have faced issues with their initial listing. These leads are:

• Highly motivated to sell, making them more open to working with a new agent.
• Ready for a different approach, as they’ve already been through the listing process once and are eager to see a successful outcome.
• Potentially frustrated, which can be turned into an opportunity by offering a fresh perspective and better marketing tactics.

The key is knowing where and how to find these listings so you can be the first to reach out and offer a solution.

Strategies to Find Expired Listings

1. Use the MLS (Multiple Listing Service)

The MLS is the primary resource for finding expired listings. It offers real-time data on properties that have been withdrawn from the market or have not sold by the end of their listing agreement.

• How to Search: Use the "expired listings" filter in your MLS database to identify properties that have recently expired. Narrow down your search by price, location, and property type to find the best matches.
• Set Up Alerts: Many MLS systems allow you to set up alerts for expired listings, so you’re notified as soon as a listing expires.
• Target Specific Neighborhoods: Focus on areas where you have experience or want to build your business, making your pitch more relevant to homeowners.

2. Use Specialized Tools and Software

There are various tools designed to help agents find expired listings quickly:

• REDX: A lead generation platform that provides daily lists of expired listings, including homeowner contact information.
• Vulcan7: Another popular tool that offers expired listing data along with dialer software to make outreach easier.
• Landvoice: This service provides access to expired listing data, including phone numbers and other contact information.

These tools streamline the process of finding expired listings and allow you to start reaching out to potential clients right away.

3. Leverage Public Records

Public records can provide additional insights into properties that may have expired listings.

• How to Use Public Records: Search public records for property owners whose homes were listed but did not sell. This can give you direct access to homeowners who might be considering re-listing.
• Check Property Details: Public records often include details about the property, such as the owner's name, mortgage status, and previous listing history, allowing you to tailor your approach when contacting the homeowner.

4. Zillow’s “Off-Market” Listings

While Zillow doesn’t directly offer expired listings, it does list properties as “off-market,” which can include homes that have expired listings.

• Filter for Off-Market Listings: Use Zillow’s search feature to filter for off-market properties. While not all off-market homes are expired listings, this can still be a useful way to find potential leads.
• Reach Out to Homeowners: Contact homeowners with off-market listings to see if they’re still interested in selling and would like a new approach.

5. Use Real Estate Farming Techniques

Real estate farming involves focusing on a specific geographic area or type of property to generate leads.

• Mail Campaigns: Send direct mail campaigns to neighborhoods with a high volume of expired listings. Use personalized letters or postcards to introduce yourself and offer a fresh perspective.
• Door Knocking: If you’re comfortable with in-person contact, door-knocking in areas with many expired listings can be effective. Be prepared with a script and marketing materials to make a strong impression.

Tips for Reaching Out to Expired Listings

• Be Empathetic: Homeowners with expired listings may feel frustrated or discouraged. Start the conversation with empathy and understanding of their situation.
• Offer a Solution, Not Just a Pitch: Focus on what you can do differently to sell their property. Highlight your marketing strategies, past success with expired listings, and how you plan to address any issues that prevented the sale before.
• Follow Up Consistently: Don’t expect immediate responses. Consistent follow-up is key to converting expired listings into clients.

Conclusion

Finding and converting expired listings requires a proactive approach, the right tools, and a personalized strategy. By using the MLS, specialized tools like REDX, public records, and real estate farming techniques, you can build a reliable pipeline of motivated leads.

For more ways to manage and convert leads, explore RobinFlow’s #1 Lead Generation Platform, designed to help real estate agents automate tasks, organize leads, and close more deals. Learn more at RobinFlow.