If you're a realtor looking for potential leads, chasing expired listings should be at the top of your to-do list. In this blog post, we'll explain why expired listings are your best bet and how you can turn them into successful sales.

Key Takeaways:

1. Expired listings are valuable because the homeowner had the intention to sell their home.
2. Various reasons can cause an expired listing, such as an inability to accommodate showings, missed opportunities, or an ineffective marketing plan.
3. Checking MLS frequently and being the first to contact an expired listing increases your chances of success.

Let's consider an example. A realtor in a specific farming area checks MLS every day and comes across an expired listing. They immediately reach out to the homeowner, who is still motivated to sell and is open to working with a realtor. The realtor provides a new marketing plan and pricing strategy that is more realistic, resulting in a successful sale for both the homeowner and the realtor.

On the other hand, suppose a realtor misses out on an expired listing because they did not check MLS frequently enough. In that case, the homeowner ends up listing with another realtor, and the opportunity is lost.

To make the most of expired listings, it's crucial to remember to play within the rules and check with your regulatory board for the acceptable amount of time to contact an expired listing.

Now that you understand the importance of expired listings, you might want to master the art of door knocking and farming areas. Check out our Door Knocking Master Class for Realtors, where our training videos provide everything you need to know to turn expired listings into successful sales.

Definitions:

1. Expired Listing: A listing that previously had the intention to sell but was unsuccessful in doing so.
2. MLS: Multiple Listing Service, a database of property listings created by real estate brokers.
3. Regulatory Board: A government agency responsible for regulating a particular industry, in this case, real estate.