Are you struggling to find new listings for your real estate business? Expired listings can be a goldmine for agents who know how to approach them. In this blog post, we'll show you how to turn expired listings into sales and provide you with key takeaways and examples to help you succeed.

Key Takeaways:

1. Expired listings are a great opportunity to get listings, as the homeowners have already shown interest in selling their homes.
2. Check MLS frequently and set up an auto search to be the first to contact the homeowners of expired listings.
3. Always play within the rules and check with your regulatory board for the acceptable amount of time to contact the homeowners of expired listings.

Example 1:

Sarah, a real estate agent, wants to increase her chances of turning expired listings into sales. She checks MLS every day for expired listings in her farming area and sets up an auto search to be alerted as soon as a new expired listing comes up. Once she finds an expired listing, she contacts the homeowner within the acceptable amount of time set by her regulatory board. She brings her expired letter and her expired binder when visiting the homeowner to increase her chances of turning the lead into a sale.

Example 2:

Mark, a new agent, was advised by established agents to not bother with expired listings. However, he learned that expired listings are some of the best bets when farming an area. He checks MLS frequently and sets up an auto search to be the first to contact the homeowners of expired listings. He follows the rules and checks with his regulatory board for the acceptable amount of time to contact the homeowners. He brings his expired letter and his expired binder when visiting an expired listing to increase his chances of turning the lead into a sale. He successfully turns an expired listing into his next big sale.

If you want to learn more about how to master a farming area and turn expired listings into your next big sale, sign up for our door knocking master class for realtors. Our training videos will teach you everything you need to know about door knocking and farming an area, from the basics to advanced techniques. Don't miss out on this opportunity to take your real estate career to the next level!

Definitions:

1. Expired listings - Properties that were listed for sale on the MLS but did not sell during the contracted listing period.
2. MLS - Multiple Listing Service, a database of real estate listings shared among real estate agents and brokers.
3. Regulatory board - A government agency or professional association that regulates and oversees the conduct of professionals in a specific field. In this case, the regulatory board sets rules and guidelines for real estate agents.