Expired listings are an amazing and often untapped resource of leads. Many agents overlook expired listings, maybe because they just don’t consider them an option, or maybe because they feel bad going after the listing of another agent. If the latter is the case, tough. The original listing agent had enough time to get the home sold – if it didn’t sell, then the agent obviously wasn’t cutting it and it’s time for someone new to step up. Besides, the homeowners deserve an agent who will get the job done, and that means you!

Prospecting expired listings is simple: just look them up in your MLS system. You should also be able to set up email alerts each time a new property expires. Although we shouldn’t have to mention it, remember that it is ILLEGAL to go to a home that is still under contract with another agent to try and take the listing. YOU MUST WAIT UNTIL THE LISTING EXPIRES! Follow up time for expired listings is typically shorter than most types of leads, since 99.9% of homeowners will still want to sell even after the initial listing expires. They will either re-list with their current agent, or shop around for a new one. That’s why with success with expired listings relies more on immediate contact than follow up (though follow up is important with ANY lead!)

As soon as you get notice a listing has expired, you need to get to the home IMMEDIATELY. And we do mean immediately – just think about how many other agents may have gotten that ‘expired’ alert. If the homeowners aren’t home, stay there until they are (unless you have pressing appointments) and when they get home, act like you just pulled up to the home. Seriously. You need to be the first agent they deal with in order to make the most memorable impression. If you don’t get them to list with you in that first meeting, your odds start to go down.

You can read our article on following up with expired listings for some great tips on how to convert these homeowners to clients.

Here are a few Expired Listing Scripts to try:

1. Hello, I am calling to inquire about your home at (address) which did not sell. You do realize that the 2 most common reasons that a home does not sell in these market conditions is Overpricing and Lack Of Marketing?! My name is (your name) with (company name) and I have dedicated myself to exceeding my clients expectations however, I must know that I am dealing with a realistic homeowner? Great! Let’s schedule a day and time so I can go over the plan of how I am going to get your home sold. Remember, there is no need for frustration….you just need a better game plan.

2. Hello my name is (your name) with (company) and I was recently notified that your home at (address) has expired from the MLS and I would assume that your ultimate goal still remains to get the home sold. I would appreciate the opportunity to introduce myself and discover the reasons why your home did not sell and see how my company and I can help get your home sold. Would Friday at 4pm or Saturday at 10am work for a meeting?

3. Hello this is (your name) with (company) and I see that your listing at (address) has expired with (other realtors name and company) and was hoping to find out a little more about what you feel could have been done better and get your opinion as to why it did not sell. Even though you were listed with a good agent and company before, sometimes a fresh perspective with a new agent can be all that it takes. I would like to schedule an appointment with you and (other decision maker, if any) to go over in detail my marketing plan for the successful sale of your home. Please let me know some days and times you are available.