Expired Listings: How to get the BEST leads as a Real Estate Agent, Investor, or Wholesaler

Here’s one of the best ways to get business whether your a real estate agent going for listings, a buyer looking for something off market, a flipper, or a wholesaler looking for good deals. And this is widely overlooked…expired listings! Enjoy! Add me on Snapchat/Instagram: GPStephan

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Here’s how it works. As a real estate agent, when it comes time to sell a house, you get what’s called a listing. If an agent can’t sell the home during the listing and that time period expires, it’s called “an expired listing.” Basically the agent that had the listing on that home no longer has a contract with the seller. This means that every single day new properties are expiring on the market.

These are the most targeted leads you could ever get in real estate. These are real, willing sellers who literally tried to sell their home. You know they WANT to sell. This isn’t you just meeting thousands of people hoping one is going to sell…you’re going after people who have proven that they’re serious enough to put their home on the market with an agent. This is like the jackpot in terms of potential. And this also applies whether you’re a realtor looking for a listing, a wholesaler looking to find an off market deal, or even a buyer looking to buy something without paying commission.

Once you find an expired listing, the first thing I like to do is research it. I like to learn EVERYTHING about it. The more information you have, the better you’ll be at this.

The next thing I’ll do is call the last listing agent. The reason why is that often times the listing agent just let the home expire to then re-list as a new listing just a few days later. Or, maybe it’s still under contract even though it’s expired online. I like to avoid situations where I might be imposing on another agent, or wasting my time if the seller is still working with them…so I like to call. Every time I’ve done this, I’ve gotten a really positive response. If the agent is still working with the seller, they’re glad you called and they’ll let you know, and you’ve just saved a ton of time. If they’re not, often they’ll let you know and they’ve had a negative experience and just glad to be done with the seller.

From there, the next thing you can do is go and door knock that home to introduce yourself and see if this is someone you could work with. Prepare a small package you can leave with the seller. It should include some information about their property, some recent sales in the area, a market analysis, information about you, and how you plan to sell the home. Make it as tailored to their property as possible…if it’s generic, it’s not going to be as effective. Everyone just does really generic advertisements and they’re a dime a dozen, make sure you stand out. If they do answer, say you saw the listing expire and you wanted to introduce yourself and offer some information about the neighborhood and the services you offer. It’s not so much about selling yourself, but about finding what they’re looking for and helping THEM. It’s a subtle difference here, don’t just e about you…this is 100% about them, so make everything geared towards helping them.

In a way, you’re interviewing THEM just as much as they are you. You need to find out if this is someone realistic who you can work with. You need to make sure their expectations match up with what you can do.

Find out what happened and then improve on that. Use this as a foundation to build on! After this, I’d go for the listing appointment to show them exactly what you can offer and how you plan to solve their problems and get their home sold. If you’re a buyer, see if you can check out the home to see if it’s something worth purchasing.

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For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

Suggested reading:

The Millionaire Real Estate Agent

Your money or your life

The Millionaire Real Estate Investor

How to Win Friends and Influence People

Think and grow rich

Awaken the giant within

The Book on Rental Property Investing

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