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The Real Estate Sales Podcast

Apr 20, 2021

In this episode, Jimmy Burgess brings us a few tips on how you can generate more real estate sales with expired listings. 

  • When you’re working with an expired listing, you’re competing against 30-40 agents depending on your area the day that a listing expires. 
  • Once a listing expires, the very same day, the owners will get tons of calls from agents asking if they want to relist again. This cycle will go on for about a week. 
  • When they decide not to relist, the calls they get will dwindle because agents are now moving on to the next recently expired listing. 

Focus on the right kinds of expired listings

  • Focus on the listings that have expired within three to 18 months. So, go to your MLS and search for the listings that have expired within three to 18 months. You also have to check whether these listings have been relisted or have been sold. 
  • You can also go to the tax records and check the property appraiser’s website to see if the property has been off the market. 
  • When you find these expired listings, you now have the opportunity to turn them into new listings. 

What to do once you find expired listings

  • Take your listings to a list of buyers that you have, then call the owners of these expired listings. 
  • You can use different apps like Forewarn and Truthfinder to look for phone numbers.
  • Call the homeowners and introduce yourself. Ask them of their plans and inform them that you have a buyer looking to buy a new home and explain that their home is the right fit. 
  • If you can’t reach them via phone call, you can use other avenues such as sending them video unsolicited CMA (comparative market analysis). Let them know that you’re sending them a video unsolicited CMA by dropping a voicemail to them. 
  • Your goal is to add value to the homeowners who had their homes listed a few months back. 
  • You can use different platforms when making your CMA videos. Make sure to include a CTA at the end. This can be a simple phrase in the email that would prompt the homeowners to reply back. 
  • The third way to reach out to these homeowners is to set them up on schedule to get valuable information from you. Make sure that they’re getting valuable information and updates. 
  • Even when they’ve said that they’re not interested, you still need to list them up in your video CMAs every three months. When the time comes that they want to list their homes again, you’d be at the top of their mind. 

“How to Generate More Real Estate Sales with Expired Listings” episode resources