Ultimate Guide: How to Find Expired Real Estate Listings

Summary:

To find expired listings use these following platforms: 

1. MLS: Filter for expired and soon-to-expire properties.
2. Buying Leads: Use services like REDX for targeted leads.
3. Public Records: Access tax and foreclosure information.
4. Professional Networks: Leverage groups like NAR, NREIA, NAREB, NAHREP, IREM, WCR, and Meetup.

1. How do I find expired real estate listings on MLS?

Summary:

To find free MLS expired listings follow these steps:

• Use "Last Change" filter for recent expirations.
• Apply "Days on Market" to find long-listed properties.
• Select "Status" filter to view only expired listings.
• Scout neighborhoods for unlisted properties.
• Set alerts for upcoming expirations in MLS.

Key MLS Filters for Identifying Expired Listings:

Last Change Filter:

• This filter allows agents to view listings that ended within a specific timeframe. For instance, to get listings that expired in the last week, set the “Last Change” filter to “-1 week.” This approach helps in quickly identifying recent expired listings.

Days on Market (DOM) Filter:

• The DOM filter shows listings based on the duration they were on the market before being removed. For example, to see listings that were on the market for 30 days or more before expiring, set the DOM filter to “30.” This can help agents spot listings that may have struggled to sell, potentially indicating a need for a new marketing strategy or price adjustment.

Status Filter:

• Utilize the “Status” filter to sort listings by their current status. By setting this filter to “Expired,” agents can exclusively view properties whose listing agreements have lapsed, enabling a focused search.

Physical Scouting:

• In addition to using MLS filters, physically driving around desired neighborhoods and looking for homes that previously had “for sale” signs can uncover expired or canceled listings. This method requires more effort but can lead to discovering potential leads that may not be listed in the MLS.

Setting Alerts for Upcoming Expirations:

• Agents can also set alerts for listings that are approaching their expiration date. This proactive approach ensures that agents are immediately notified of potential leads, allowing them to act fast and contact the sellers or listing agents as soon as the listings expire.

By leveraging these MLS filters and techniques, real estate agents can stay ahead in the game, ensuring no potential expired listing leads fall through the cracks. Utilizing the MLS to get a hold of valuable real estate expired listings not only saves time but also provides agents with a competitive edge in finding and capitalizing on expired listings in their target markets.

Summary:

To buy expired real estate listings, agents can utilize platforms like REDX for a comprehensive list of quality leads. This cost-effective strategy, typically ranging from $50 to $200, offers targeted search capabilities and instant access to potential properties. Agents can filter leads based on specific criteria, ensuring alignment with business goals and enhancing the chances of successful conversions. The choice of platform should consider lead quality, ease of use, and CRM integration, allowing for efficient lead management and personalized strategy development.

Cost-Effective and Time-Saving Strategy

• Budget-Friendly Options: Typically ranging between $50 to $200, purchasing leads online stands as a cost-efficient method compared to traditional information gathering from public records or MLS.

• Ideal for Busy Agents: Providing instant access to a curated list of potential properties, this method is a boon for agents juggling multiple clients or those constrained by time.

Enhanced Precision and Conversion Potential

• Targeted Search Capabilities: Platforms like REDX empower agents to filter leads based on specific criteria such as location, property type, or price range, ensuring alignment with their business objectives and boosting the probability of successful conversions.

• Customized Approach: The detailed information with each lead paves the way for crafting personalized strategies, significantly improving the chances of transforming these leads into successful deals.

Choosing the Right Platform and Integrating CRM

• Strategic Platform Selection: The choice of platform should hinge on the quality of leads, ease of use, and the capability for CRM integration, facilitating efficient lead management.

• Comprehensive Tools: Platforms like REDX stand out by offering not just quality expired leads but also resources like the REDX Brand Builder for strategic content creation, crucial for engaging potential clients effectively.

Balancing Quality and Quantity in Lead Selection

• Quality Over Quantity: When it comes to purchasing leads, the focus should be on the quality and accuracy of the information rather than the sheer number of leads.



• Combining Lead Generation Tactics: While direct purchase is effective, integrating it with other strategies like networking or leveraging MLS searches can create a comprehensive lead generation framework.

Within the broader discussion of expired real estate listings, purchasing leads from online platforms offers real estate agents a pragmatic and strategic pathway to expand their reach in this market segment. It harmoniously blends cost, effort, and effectiveness, positioning it as an attractive option for agents regardless of their experience level.

3. How do I find expired listings using public records? 

Summary:

Real estate agents can visit public records archives at places like city hall or courthouses to find real estate expired listings. This approach provides detailed insights about property owners, including purchase history, duration on the market, and reasons for selling, such as in divorce cases.  Agents can manually access these records by visiting local public record archives or conducting online searches. Public records are informative, providing details such as the property's duration on the market and ownership history.

Although accessing public records is a cost-free method, it requires a significant time investment. This process involves sifting through various legal and governmental documents to uncover properties that remained unsold during their initial listing period.

Here's an effective strategy for using public records to find expired real estate listings and potential leads:

Key Public Records to Examine:

• Tax Documents:
• Review property tax records to identify homes with overdue taxes, as these can sometimes correlate with properties likely to become expired listings. Properties with longstanding unpaid taxes may indicate financial challenges for the owner, potentially leading them to sell.
• Foreclosure Filings:
• Scrutinize foreclosure filings in your target area. Homes in the process of foreclosure can sometimes end up as expired listings if they fail to sell at auction. These properties can provide opportunities to work with motivated sellers or banks looking to offload real estate assets.
• Legal Documents:
• Examine other legal documents such as estate filings and divorce proceedings. These records can reveal properties that might need to be sold due to changes in personal circumstances, often leading to expired or withdrawn listings.

How to Access Public Records:

• Visit local government offices like the county recorder or assessor's office to access these records. While many jurisdictions have digitized their records, some may still require in-person visits.
• Utilize online databases and platforms that consolidate public records. Services like CoreLogic or LexisNexis provide comprehensive access to public records, albeit often for a fee. These platforms can save time and offer more convenient search capabilities compared to manual searches.

Balancing Effort with Potential Rewards:

• Be mindful of the time investment required for this method. It’s crucial to balance the time spent on public records searches with other lead generation activities.
• Given the labor-intensive nature of this approach, prioritize areas or properties that align closely with your expertise and client base to maximize efficiency.

Integrating Public Records with Other Strategies:

• Combine insights gained from public records with other methods such as networking with other real estate professionals or using the MLS. This integrated approach can provide a more comprehensive understanding of the local market and potential expired listings.
• For example, after identifying a property through public records, use the MLS to gather more details about its listing history, or reach out to your network for additional insights or potential seller contacts.

Exploring public records for expired real estate listings, while time-consuming, can unearth unique opportunities not found through more conventional methods. This approach requires patience and a keen eye for detail but can be highly rewarding for real estate agents looking to tap into less obvious segments of the market. By combining this strategy with other lead generation techniques and utilizing available tools, agents can effectively expand their reach and uncover valuable leads that might otherwise remain hidden.

4. How Do I Find Expired Listings Using Professional Connections and Associations

Summary:

Leveraging professional networks and joining associations are key strategies for real estate agents to discover expired listings, providing a cost-effective means to gain valuable leads.

Benefits of Joining Professional Groups and Associations:

These groups provide valuable opportunities for sharing resources, gaining insights, and accessing leads.

Some key networking platforms include:

• Referral Exchange: A platform that allows real estate agents to connect and exchange client referrals. It is particularly useful for finding leads on expired listings from agents in different regions or with different specializations.
• Agent’s Referral Network: This network focuses on facilitating connections between agents for the purpose of sharing expired listing leads and other referrals. It offers a supportive community for agents looking to expand their reach.
• Meetup: An online platform where agents can find local real estate groups and events. Meetup groups often organize networking events, workshops, and seminars, providing opportunities to build professional relationships and share leads on expired listings.

Real estate agents should also consider becoming members of various real estate associations, such as:

• National Real Estate Investors Association (NREIA)
• National Association of Real Estate Brokers (NAREB)
• National Association of Hispanic Real Estate Professionals (NAHREP)
• Institute of Real Estate Management (IREM)
• Women’s Council of Realtors (WCR)
• National Association of Realtors (NAR)

These organizations provide opportunities for agents to meet others in the field, share experiences, and potentially exchange leads. Being active in such groups can greatly enhance an agent’s ability to find expired listings. It also opens the door to learning different marketing strategies from peers, as no two agents market a home the same way.

How Do I Find Expired Real Estate Listings on Zillow?

Summary:

To find expired or to see old listings on Zillow, you'll need to use a slightly indirect approach, as Zillow doesn't explicitly categorize listings as 'expired.' However, you can try the following simple steps:

1. Utilize Advanced Search Filters: To find expired listings on Zillow, use Zillow’s advanced search filters. Filter for homes that have been on the market for an unusually long period. This strategy helps in identifying listings that might be expired or close to expiration.
2. Examine Listing Dates: For insights on how to see previous listings on Zillow, check the listing dates. Older dates often suggest that the property's listing might have expired or become stale.
3. Assess Market Status: Investigate properties that are no longer marked as 'active.' These could be indicative of what 'listing removed' means on Zillow, suggesting they are effectively expired listings.
4. Collaborate with Real Estate Agents: Agents have access to professional databases and can be instrumental in how to find old Zillow listings and pinpointing valuable opportunities.
5. Regular Monitoring: Keeping a consistent watch on properties in your area of interest can reveal which ones have been on the market for a long time, hinting at possible expiration.
6. Set Up Zillow Alerts: To efficiently find expired listings on Zillow, set up alerts for specific search criteria or properties. This way, you're immediately notified of any status changes that could signify an expired listing.

Remember, while Zillow may not show 'expired' as a status, using these strategies, especially for understanding 'listing removed' on Zillow, requires regular monitoring and a bit of deductive reasoning. For more direct information on expired listings, consider accessing MLS or using services like REDX.

What are the Benefits of Expired Real Estate Listings?

Summary:

Understanding why expired listings are important can be a game-changer for agents keen on expanding their business and achieving greater success. Here's a closer look at the benefits of expired listings for real estate agents:

High Potential Profitable Leads and Increasing Income:

Targeting expired listings is a profitable way for real estate agents to increase their sales and income. This segment of the market often consists of motivated sellers who are eager to work with a new agent, presenting a prime opportunity for increased transactions and higher commissions.

Opportunity for Fresh Marketing Approaches:

Expired listings might have suffered from poor marketing. Agents can leverage their unique marketing skills or different strategies to attract the right buyers.

Less Competition:

Many agents overlook expired listings, focusing instead on new or active listings. This means less competition for agents who do target these listings.

Potential for Better Deals:

Sellers of expired listings may be more willing to negotiate, especially if they have been trying to sell for a long time. This can lead to better deals for both the buyer and the seller.

Building a Reputation for Success:

Successfully selling an expired listing can boost an agent's reputation for being able to sell properties that others could not, potentially leading to more client referrals.

Expansion of Professional Network:

Engaging with sellers of expired listings helps agents expand their professional network, which can be beneficial for future business. By understanding and leveraging the importance of expired listings, real estate agents can tap into a market segment that offers numerous opportunities for growth and success. These listings are not just properties that failed to sell; they are untapped potential waiting for the right agent with the right approach.

Why Do Real Estate Listings Expire? 

Summary:

Real estate listings expire when properties don't sell within the listing agreement's duration, without renewal. Reasons include unrealistic asking prices not aligned with market value, inadequate marketing efforts, property presentation challenges, overlooking key selling points, and the previous agent's lack of expertise or effort. Agents need to address these factors, utilizing tools like MLS searches and effective marketing strategies, to successfully convert expired listings into sales.

Unrealistic Asking Prices:

• Often, expired listings can be traced back to asking prices that do not align with the current market value. Setting a price too high compared to similar properties in the area can deter potential buyers.
• Real estate agents need to conduct thorough market research and use tools like MLS expired listings search to gauge the right asking price.

Inadequate Marketing Efforts:

• Subpar marketing strategies by the previous listing agent can significantly impact the sale of a property. This might include poor online presence, lack of effective advertising, or failure to highlight the property's unique features.
• Real estate professionals should reassess and revamp the marketing strategy for these listings, potentially using platforms like Facebook real estate listings to reach a broader audience.

Property Presentation Challenges:

• Issues with how a property is presented, including poor staging, unprofessional photography, or neglecting minor repairs, can turn away potential buyers.
• Agents looking to relist expired home listings should focus on improving the visual appeal and overall condition of the property to attract more interest.

Overlooking Key Selling Points:

• Sometimes, a listing might expire because crucial selling points like location, unique property features, or community amenities were not adequately highlighted.
• Agents need to identify and emphasize these selling points when relisting or marketing the property.

Lack of Agent Expertise or Effort:

• In some cases, a listing expires due to the previous agent's lack of expertise or effort in selling the property. This could be due to inadequate knowledge of the market or poor communication with the seller.
• New agents taking over expired listings should ensure they bring fresh perspectives and dedicated efforts to the selling process.

Monitoring expired MLS listings is a valuable strategy for real estate agents to understand why certain properties do not sell. This knowledge not only helps in targeting expired listings more effectively but also in avoiding similar pitfalls when listing new properties. By addressing these common issues, agents can significantly increase their chances of converting expired listings into successful sales.

How Do I Profit from Expired Real Estate Listings?

Summary:

Expired listings present a substantial opportunity for astute agents. Expired listings often come from homeowners who are increasingly motivated to sell, having experienced the frustration of an unsold property. This motivation transforms these properties into warm or hot leads, ripe for the taking by resourceful real estate agents.

Understanding the value of getting valuable expired listings is key for real estate agents. These listings, often from homeowners ready to negotiate and sell, open doors to various profitable and strategic opportunities:

Motivated Sellers:

• Homeowners with expired listings are often more eager to sell, possibly more open to negotiation and realistic pricing.

These listings become prime targets for agents using strategies like direct mail, targeted online ads, or personalized phone calls to connect with these sellers.

Opportunity for New Strategies:

• Expired listings give agents a chance to apply fresh marketing and pricing strategies that the previous agent might have missed.
• Agents can use tools like MLS expired listings search and expired listing real estate platforms to identify these opportunities quickly.

Potential for Higher Conversion Rates:

• Due to the increased motivation of sellers, expired listings typically have higher conversion rates from lead to client.
• Real estate professionals can use this to their advantage, leveraging their marketing and negotiation skills to close deals more effectively.

Reassessment and Relisting:

• When a property listing expires, it offers a new agent the opportunity to reassess its market value and relist it at a more competitive price.
• This could involve a comparative market analysis or consulting historical MLS listings to determine a more accurate price point.

Building a Reputation:

• Success with expired listings can help agents build a reputation as problem-solvers who can turn challenging situations into successful sales.
• Utilizing platforms like social media, particularly Facebook real estate listings, can help showcase these successes and attract more clients.

Nurturing Seller Relationships:

• Building rapport and trust with sellers of expired listings is crucial. Demonstrating empathy for their situation and providing clear, data-driven guidance can set an agent apart.
• Engaging in consistent follow-up and providing regular market updates can help maintain and strengthen these relationships.

For real estate agents aiming to enhance their success and sales figures, mastering the art of finding and converting expired listings is invaluable. By understanding how to find expired real estate listings and effectively reposition them in the market, agents can transform these opportunities into profitable sales, marking a significant boost in their real estate career. This strategy not only benefits the agent in terms of increased commissions but also aids sellers in achieving their goal of selling the property, creating a win-win situation.ur real estate brand.

What are the Types of Expired Listings?

Summary:

Expired listings, distinct from withdrawn or canceled listings, typically signify a failed initial selling strategy due to factors like pricing, marketing, or prevailing market conditions. Understanding the distinct reasons behind each scenario – withdrawn, canceled, and expired – is crucial for a real estate agent to approach each situation effectively.

Withdrawn Listings:

• Withdrawn listings often result from a seller's personal decision to remove their property from the market. This decision may not reflect market conditions or the agent's efforts.
• Reasons can vary from financial changes to emotional attachments to the property. In such cases, maintaining a relationship with the seller is essential, as they might consider re-listing in the future.
• Real estate agents should use this opportunity to provide ongoing advice and market insights, potentially leading to a re-listing or referral in the future.

Canceled Listings:

• Canceled listings occur when an agreement between the seller and the agent is terminated before the expiration date of the listing contract. This could be due to dissatisfaction with the agent's services, a change in selling strategy, or unexpected changes in the seller's circumstances.
• These listings might provide opportunities for new agents to step in with innovative marketing strategies or more accurate pricing, offering a fresh perspective to the seller.
• Understanding and addressing the reasons behind a canceled listing, such as poor marketing or a canceled listing due to a high asking price, can be pivotal in converting these opportunities.

Expired Listings:

• An expired listing typically refers to a property that didn't sell within the agreed-upon timeframe of the listing contract, often due to issues like unrealistic pricing, inadequate marketing efforts, or a mismatch with market demands.
• These listings present unique opportunities for real estate agents to demonstrate their capability to succeed where others have not. This might involve reassessing the property's market value, revamping the marketing strategy, or addressing staging and presentation issues.
• Agents adept at handling expired listings, especially those proficient in using tools like MLS expired listings search and expired listing lead generation platforms, can turn these challenges into successful sales.

Conclusion

Harnessing the potential of expired real estate listings is a crucial strategy for real estate agents looking to elevate their sales and broaden their market reach. By adeptly employing a variety of methods like utilizing MLS filters, buying quality leads, exploring public records, and leveraging professional networks, agents can effectively identify and transform these listings into successful transactions. Key to this process is the ability to build strong relationships with sellers, present tailored solutions, and deeply understand their unique needs and motivations. With the right approach, agents can not only increase their success rate but also establish themselves as proficient and resourceful professionals in the competitive real estate landscape.

Frequently Asked Questions