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.
Get $10 by signing up on Coinbase after your first $100 purchase: https://www.coinbase.com/join/5a20f244e07edf019d1ce550
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: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Join the private Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
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.
Get $10 by signing up on Coinbase after your first $100 purchase: https://www.coinbase.com/join/5a20f244e07edf019d1ce550
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: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Any other agents binge-watching his older agent videos? 👀
Let’s not forget, you must check the call registry to see whether or not they’re on the do not call list.
Got any sites for expired listings in Texas? That website said California
We’re you been bruv
I wouldn’t do the research on the mls. By the time you did all that research, agents such as myself have called that client 2-3 times and won the listing.
My advice to new agents is always know your market before you get clients. In that time, go to real estate events, study scripts, etc and when you become knowledgeable call expired listings and kill it.
how do you get the owner's number, the numbers on the mls is usually the listing agent's number so I have no choice but to go with the introduction/co-list route?
Can’t believe I found this gem of a video
Calling the listing agent and asking for permission on an expired listing is probably the dumbest thing I have ever heard. What a complete and utter waste of time. If the listing has expired, then by definition the former listing agent no longer has a official working relationship with the seller. Go for it!
Man knows his stuff
I've been on both sides. I was a FSBO that turned into an expired listing and now I am a real estate agent. It is beyond annoying getting 20 calls a day from agents trying to sell my home. Extremely irritating. I can't imagine complaining about agents calling me and then I am cold calling. I'm not calling expired listings but I will try other sources. I may not have too many listings but it's all good because I have a full time job
With the current market, would you still recommend this strategy for new agents?
Graham, have you ever had a listing expire?
Great content. Thanks dude
This is just about a step by step on expireds. Going back to watch again in case I missed something. Thanks from Texas.
Excellent video! thank you so mcuh for sharing!
I appreciate you sharing your tips, and tricks. Thanks for helping us all bring in business for free❤️
Great
Why wouldn't calling the listing agent be the first step?
I can see both sides of “contacting the listing agent” however I generally do not. It’s like inviting the listing agent to try to argue and steal back their client they failed in the first place.
Anybody have any scripts for expired calls?
Currently 19 years old going into becoming a real estate agent, came across your channel and I am so happy that I did.
How do I the contact home owner when the sellers contact info is not on the MLS?
Your strategy of calling the list agent and asking permission seems like something that works for other agents but what if your not an agent?
Rewatching some older videos 🙂 I miss the lotus in the back.
Nice video! I only find it awkward to ask the expired listing agent to refer me to the seller.. for whatever reason it wasn’t a successful relationship, why would the seller listen to the agent again?!
I was doing exactly what you told me to do in this video, and some listing agent was so rude. one didn't let me finish and just hang up on me lol.
Even in 2020 this is so useful!! thanks for the helpful information
Gang
Very courteous but also seems like a big waste of time. Depending on your market there are several expired listings per day..Why go through all the trouble of contacting the agent and THEN door knocking when you can just pull the numbers and call the seller yourself? If you ask the right questions the seller will let you know if they have relisted with the current agent. If so thank them for their time and move on. Only door knock and keep in touch with the ones you build a good rapport with over the phone…
Where are the link to get notifications when listing expired? I have a MLS I’m a new agent from Orange County
Hey graham I bought a 2019 Honda Civic because my plan was to do Uber and real estate and I was planning on paying off my car within this year if I managed to sell a house or 2, would that be wise to pay it off all in one go or should I just keep paying the Loan I pay 350 a month and it’s for the next 7 years the car was about 22k