What an expired listing?
Mar 26, 2023What an expired listing!
When can you contact the homeowner?
What should you bring with you for an expired listing?
It is pretty simple.
It means that the homeowner had listed their home and that the listing contract with the agency chosen initially has ended. It has either terminated or been completed or expired.
Established agents will tell new agents to refrain from bothering with expires, which is terrible advice.
Expired listings are some of your best bets when farming an area.
If you don't know, we have a master class all about door-knocking, and it's fantastic—a set of training videos all about how to master a farming area.
If you are a door knocker and you're farming an area, you want to check the expireds for your site daily.
An expired listing means it is no longer on the market and is up for the fair game.
When a homeowner is listed with an agent, you're not allowed to contact that homeowner. However, once a listing expires and a certain number of days pass, you can reach that owner.
It is wise to check MLS frequently, set up an auto search and always be the first to get to those expireds. The sooner you get to an expired, the greater your chances that you will turn that lead into a listing for yourself. Check with your regulatory board in your province or state for the acceptable amount of time you're allowed to contact that expires. Always play within the rules. You don't want to upset other agents. It is fair game. However, you want to avoid cheating the system, so check your rules.
What should you take to an expired listing? Lucky for you, we have two other videos for you to watch, which I will link below. The first video is about how to set up and what to write on your expired letter at drop-off. The second video about how to study and talk expires with your binder.
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