Meta Description: Discover the appropriate timing and strategies for contacting homeowners of expired listings as a real estate agent. Learn how to maximize the opportunity and increase your chances of turning expired listings into successful listings. Find valuable tips and recommended books to enhance your knowledge in this video lesson.

Introduction:

Are you a real estate agent looking for new listings? Expired listings can be a goldmine of opportunities. However, it's crucial to understand when it's appropriate to contact the homeowner of an expired listing. In this video lesson, we will discuss the optimal timing and strategies for reaching out to expired owners. Discover how to make the most out of this opportunity and increase your chances of securing successful listings.

Key Takeaways:

• Isolate expired listings within your farming area during your daily MLS study.

• Contact the homeowner of an expired listing promptly, within the acceptable timeframe set by your regulatory board.

When Can You Contact an Expired Owner?

When a homeowner lists their property with an agency, direct contact is not allowed. However, once the listing expires and a specific number of days have passed, you can reach out to the owner. It's crucial to consult your regulatory board in your province or state to determine the acceptable timeframe for contacting expired listings. Always adhere to the rules and maintain good relationships with other agents.

The Importance of Prompt Contact:

The best time to contact an expired owner is as soon as possible. Stay vigilant by regularly checking the MLS and setting up automated searches to be the first to discover expired listings. Acting swiftly increases your chances of converting the lead into a listing. Expired listings offer a significant opportunity as these homeowners have already expressed their desire to move and have previously listed their property.

Examples:

Example 1:

When you come across an expired listing in your farming area, make immediate contact with the homeowner within the acceptable timeframe set by your regulatory board. Demonstrate your familiarity with the property, explain why it didn't sell previously, and offer your services to help them achieve a successful sale.

Example 2:

If you're a new agent aiming to build your listings, focusing on expired listings can be a smart strategy. These homeowners are motivated to sell and actively seek opportunities, making them an ideal target for new agents.

Recommended Books:

• "The Ultimate Guide to Expired Listings: Your Complete Roadmap to Success" by William May.

• "Expired Listings: The Ultimate Guide to Working with Expired Listings" by Tim Harris.

Conclusion:

Contacting the owner of an expired listing presents a fantastic opportunity for real estate agents to secure new listings. Remember to isolate expired listings in your farming area during your daily MLS study and promptly contact homeowners within the acceptable timeframe set by your regulatory board. Don't miss out on the potential for expanding your business. To delve deeper into door-knocking and master farming areas, sign up for our door-knocking master class for realtors. Gain access to training videos that will help you develop a winning strategy for your real estate business.