Expired listings are properties that were recently on the market but failed to sell before the listing expiration date. Getting expired listings can be time-consuming, but real estate agents with a powerful marketing strategy, organized customer relationship management (CRM) processes, and carefully crafted outreach approach can succeed in finding, nurturing, and selling expired listings. Learn how to get expired listings and nurture clients effectively through lead generation and marketing strategies.
Find expired listing leads before other agents by checking out REDX, a real estate prospecting platform that automates your search. It eliminates the need to spend hours finding your next lead and allows you to start nurturing them before anyone else. Learn how to get expired listings through REDX and see how it will help you build a profitable business on expired listing leads.
If you’re looking for expired listings but don’t know where to begin, we’ve compiled a list of four of the best ways to find expired listings.
1. Buy Expired Listing Leads
- Cost: $50 to $200
- Experience level: Beginning to intermediate; leads need to be converted to clients after purchasing, which takes some experience, but scripts can be used
- Ease: Easy
Buying expired listing leads is an excellent alternative if you want to target expired listings but don’t have hours to manually search for them. While some real estate agents might want to avoid spending the money on buying leads, it eliminates the time needed to scrape what is essentially the same information from public records and the multiple listing service (MLS). Using a lead generation platform like REDX, you’ll receive a quality list of expired leads and increase your chances of converting each lead to a client.
The REDX lead generation platform is an efficient, cost-effective source for purchased leads. By delivering for sale by owner (FSBO) and expired leads into the platform’s Vortex CRM, you can view lead contact information, tax information, and listing details with the click of a button. In addition, REDX Brand Builder offers suggestions, topic ideas, and editing tools to help you create content that targets your audience more strategically and captures their attention. Read our REDX review to learn more about finding and attracting leads today.
2. Identify Expired Listings With the Multiple Listing Service (MLS)
- Cost: $20 to $200
- Experience level: Intermediate; need working knowledge of MLS system and ability to convert leads
- Ease: Intermediate
The multiple listing service (MLS) is one of the most affordable and first sources to check when considering where to find expired listings. Many agents manually search the MLS and export or copy and paste each expired listing lead into a contact list or client relationship manager (CRM). Simply search for listings with an expiration date within two to four weeks in each city or town you want to target.
Once you have a contact list of MLS expired listings, you’ll have to periodically follow up with leads using the lead nurturing strategies listed below. While this method requires manual data mining from the MLS and checking back to make sure that the listing has or will expire shortly, the leads you generate are free except for your time and payment for MLS access, which can range from $20 to $200. It will, however, be unsuccessful if you don’t have a thorough plan to prevent potential leads from falling through the cracks.
3. Ask Other Real Estate Professionals
- Cost: Free
- Experience level: Intermediate; need some time in the industry to build connections with other agents
- Ease: Easy
Develop and foster relationships with real estate agents who are open to exchanging their expired listings with leads of your own through networking, email, and social media. In addition to exchanging leads, some real estate agents will share their expired listings for a real estate referral fee. Because no two agents market a home the same way, it’s possible you will be able to sell their listing(s) successfully using a different marketing strategy.
You can also easily find and join national networking groups like Referral Exchange or Agent’s Referral Network, or network with other real estate agents in local groups through platforms like Meetup. There are also many local chapters of real estate associations to consider joining, like the following:
- National Association of Realtors (NAR)
- National Association of Hispanic Real Estate Professionals (NAHREP)
- Institute of Real Estate Management (IREM)
- National Real Estate Investors Association (NREIA)
- National Association of Real Estate Brokers (NAREB)
- Women’s Council of Realtors (WCR)
4. Search Public Records
- Cost: Free
- Experience level: Advanced; need advanced knowledge of documents and ability to research
- Ease: Challenging
Searching public records for expired listings is another free method of generating real estate leads, although it is the most time-consuming. To do so, visit your area’s public records archive, often at a city hall or county courthouse, to request access to listing records for your area. These records can provide valuable information about a property and the owner, including the purchase price history, divorce proceedings, estate references, and time on the market.
It’s important to note that real estate agents can spend hours flipping through paper documents or online lists to find accurate contact details for an expired listing. Although this method is free, you need to consider whether the amount of time spent finding one or two leads costs you too many hours that would be better spent on active sales and lead nurturing.
11 Best Ways to Nurture & Convert Expired Listings
Once you have a reliable method to find expired listings, it’s time to create an effective strategy for connecting with homeowners, building rapport, and converting them into listing clients. Some of the best methods include contacting them directly, sending letters, and advertising online. Regardless of which method(s) you implement, make sure you approach them wisely and remain consistent in your message and marketing.
Here are 11 of the best ways to get expired listings:
1. Establish Your Strategy for Approaching Expired Listing Leads
Before you start dialing the first phone number or writing an email, make sure you’ve taken some time to think about the best way to approach your leads. Remember that expired listing leads typically require more nurturing than other real estate leads, since most have just come through a negative experience with another agent. For them to trust you enough to work with you, you must be consistent, strategic, and different from your competition.
For example, you shouldn’t expect owners of expired listings to agree to be your client after the first phone call. They’re probably receiving similar phone calls from many different agents. To stand out from the crowd of agents vying for their business, you must contact them multiple times to build a relationship.
You will also need to approach every conversation and connection strategically. Don’t focus on simply pushing a sale, or you will get ignored or blocked. Instead, focus on building natural rapport, showing that you care about the owners as people, and showing through your expertise and testimonials that you can genuinely help them. And, as long as you are prepared to be persistent, patient, and kind in your marketing, you can successfully nurture expired listings.
2. Call Expired Listing Owners Directly
The most tried-and-true method of reaching expired real estate listings is by contacting them directly. Although it’s a straightforward strategy, it is not always easy since owners of expired house listings typically feel frustrated and skeptical of real estate agents. To overcome this, develop a script specifically for calls to expired listing leads.
Your expired listing script should build rapport and further the conversation concisely, presenting the next step and offering a solution for the homeowner. Make sure you also do your due diligence to be prepared to ask or answer specific questions about the property. When creating your scripts, keep these noteworthy tips in mind:
- Briefly introduce yourself
- Be concise—get straight to the point
- Be clear about your intent and offer
- Focus on the seller
- Demonstrate why you’re the right person to sell their home
- Address common objections and pain points
- Ask to schedule a meeting
Here is an example script from our article Top Expired Listing Scripts That Convert that you can use to get started:
Hi there, is this the homeowner? I’m _____ calling with _____.
As I was looking over what’s happening in our neighborhood, I noticed that your home is no longer for sale. I was really surprised that it went for _____ days without selling. Any thoughts on why?
(Hear them out—they’ll often talk about what they see the problems are, the other agent’s shortcomings, and so on.)
I sold a home recently in the neighborhood at _____, so I thought you might still be interested in selling your home. How about I swing by tomorrow at _____ to take a look and give you a second opinion?
(If yes, book it! If not…)
OK, I can just come by to drop off some things for you to look over? I’ve been selling in the neighborhood, and I’d like to show you what I’ve been able to do for others. Around _____ tomorrow?
3. Send an Expired Listing Letter
While phone calls can be more direct methods of contacting expired listing leads, you may have difficulty reaching the owner. A different way to connect with sellers is to send an expired listing letter. Make sure you use a professional letterhead and personally sign each one. Personalize your letter and focus on the seller rather than yourself.
Close the letter with an invitation to set up an appointment to discuss sales options further. If you’ve already made multiple attempts to contact a seller, your letter should capture their attention by outlining a clear sales path with fresh marketing ideas.
Dear _______,
I discovered today that the Multiple Listing Service (MLS) no longer has your home at ______________ (insert address) posted for sale. I’m _________ (insert your name), and my area of expertise is assisting clients who may be frustrated that their house didn’t sell the first time around, which resulted in an expired listing. How? Despite the market conditions, I offer my clients a unique approach to selling their homes.
One example of my marketing strategy is to use the internet effectively to maximize exposure for your home. This is absolutely critical as 47% of homebuyers today look online at properties for sale first before contacting an agent. In addition, when working with sellers, I offer my clients the following:
- A complete comparative market analysis
- Facilitate and coordinate showings
- A free marketing strategy session
- A full automated drip marketing campaigns
- A dedicated website specific to your listing
- Regularly scheduled open houses
The strategies listed above will assist you in determining the right listing price for your house and will also help you generate and convert leads into actual clients. If you are considering relisting your home, I would welcome the opportunity to interview for the job. Please give me a call or email at your convenience.
Sincerely,
[Insert Your Name]
4. Email Expired Listing Owners
Similar to sending letters via direct mail, contacting expired listing owners through email is another excellent strategy to connect, nurture, and convert expired listings. Consider your email to be a sales pitch. This is your initial introduction to the client and your opportunity to make a strong first impression. However, it’s not the sole action you ought to do to seal the transaction. Following up is always best practice.
A well-crafted email, on the other hand, will get your foot in the door. Use this sample email to send it to your expired listings leads:
Subject line: “Let’s try an entirely new approach.” or “Let’s sell your property now!”
Hello ________ (prospect’s name),
I saw that the listing you had for _____________ (the address of the expired listing) had recently expired. You’re likely feeling agitated, stressed, and frustrated. Rest assured that I’m here to help you.
When a home fails to sell, real estate agents usually blame the price, which is not exactly fair. In reality, these houses frequently have poor marketing that causes them not to sell. That is why I consider myself a marketer as well as a real estate professional.
I have sold ______ (number) houses in ___________ (neighborhood or location) in an average of _____ (number) days for _____ (percentage) over the asking price. I do it with smart and innovative marketing and knowledge gained during ____ (number) years of serving the _______ (neighborhood or location) area.
I’d love to hear your thoughts on my suggestions for better positioning your property. Please call or email me at your earliest convenience if you want to know how we can get your house back on the market and competitive.
Regards,
(Your name)
5. Create & Automate Drip Marketing Campaigns
Drip marketing is an email strategy describing a series of automated emails sent to your contacts regularly. It’s a great way to nurture owners of expired MLS listings because they allow you to consistently reach leads without spending more time dialing the phone or writing individual emails.
However, the emails in your drip campaign must offer value, not just a solicitation. Include neighborhood and market reports, seasonal greetings, helpful tips, and “just sold” property announcements. For your expired listings leads, you can send information about what causes listings to expire, simple changes that can prevent it, or case studies on how you’ve sold previously expired listings.
Use a strong email marketing tool like Constant Contact to easily create a nurture campaign, segment your contacts, and track progress. The email builder makes it easy to create your own email template or use an existing one to simply plug and play. Make sure to schedule an email right after you’re introduced to a new lead, then space out subsequent emails between two days and two weeks. Make sure you test out new strategies and use the Constant Contact analytics to form a strong email marketing strategy.
6. Execute SMS Marketing Campaigns
SMS, a “short message service,” is a powerful method of communicating and connecting with leads through text messages. With a 98% open rate, text message marketing is the most effective way to reach potential leads. Texting is also personal in nature, so it’s ideal for building an authentic relationship with leads and contacts.
However, make sure you are aware of spam laws. A real estate text messaging marketing campaign for expired listings should only be used after initial contact, and you must have permission to send marketing messages via text. Texting someone who has not approved text correspondence might be considered an invasion of their privacy and a legal violation. Plus, if recipients report your messages as spam, your phone number could be added to blacklists and online complaint directories.
Consider using automation software from a CRM like Zoho CRM to stay on top of your contacts and text message follow-ups. Zoho CRM can help you create a solid website to get new listings and quickly write and automate text messages. Start using Zoho CRM today.
7. Build Trust on Social Media
Although social media can be overwhelming for some agents, real estate marketing statistics clearly show that it’s an incredibly valuable source of leads. For instance, 90% of real estate agents use Facebook to promote their listings to the public and generate leads. At the same time, Instagram comes in second, with 52%, and LinkedIn follows it with 48%.
This is especially true as you’re learning how to get expired listings because it’s a free and reliable way to build trust and an authoritative presence. Using the right tools is key to developing and implementing a strong real estate social media marketing strategy.
For example, someone who has just had a negative expired listing experience with a real estate agent may not be eager to receive a call, email, or letter from another one. Their response probably won’t change if they can’t find any information about the agent’s past experience or success. On the other hand, they might think differently if they see a Facebook or Instagram page where you’ve consistently shared successful sales, valuable homeselling tips, and positive testimonials.
Learn to build trust and generate high-quality leads on these platforms:
- 6 Most Effective Ways to Generate Facebook Real Estate Leads
- 12 Ways to Generate Leads on TikTok for Real Estate Agents
- How to Generate LinkedIn Real Estate Leads in 8 Steps
- 16 Tips to Use Instagram for Real Estate Lead Generation
8. Create & Share Videos That Speak to Expired Listing Leads
Since owners of expired listings are more likely to be skeptical of agents and frustrated with the process, video is an ideal medium to communicate and build their trust. In fact, 90% of video marketers in Wyzowl’s report confirmed its effectiveness in generating leads.
Video marketing can also build trust with new leads more effectively than other communication methods. Videos allow leads to see and listen to you in a pressure-free environment where they don’t necessarily need to reciprocate or respond, like on a phone call or in person. For this reason, making simple, short videos where you talk to the camera and don’t add editing features can be even more potent than professionally produced videos. In fact, you can even send them via text or email to form a more personal connection.
Producing videos, like walk-throughs or virtual tours, can also show your expertise and ability to sell houses. These can be published on your real estate-specific YouTube channel and shared on social media platforms. Creating professional-looking videos can be just as simple when you use Animoto. Animoto is a video creation and editing tool with real estate-specific video templates. Simply use your smartphone to take videos, upload them into Animoto’s video templates, and watch how your marketing reach and conversions improve.
9. Run Online Advertising Campaigns
Online advertising can provide incredibly advanced targeting capabilities, allowing you to access a particular audience and maximize your return on investment (ROI). Although there can be a learning curve, running real estate ads on Google or social media is an incredibly effective way to get your name and offer in front of owners of expired or soon-to-expire listings.
Successful real estate ads are specific and speak directly to your audience’s pain points (e.g., owners of expired land listings). Show them that you are an effective, experienced real estate agent who can sell their property and that you care about them. Ideally, your ad will take interested sellers to a dedicated real estate landing page where you can offer something of value, such as a standard list of reasons homes fail to sell, in exchange for their contact information.
10. Send Attention-getting Mailers to Expired Listing Leads
Direct mail has helped real estate agents become successful for decades, and it’s still a powerful marketing strategy today. Also, direct mail is relatively affordable, with postcards ranging from 8 to 73 cents each, and there are an unlimited number of designs and messaging strategies you can try to learn what most effectively gets the attention of expired listing owners.
Here are some examples of real estate direct mail marketing ideas that will surely help you capture a homeowner’s attention:
To easily create a multitude of high-quality mailers specifically designed to show you how to get expired listings, check out ProspectsPLUS! It offers hundreds of ready-to-go templates for expired listings and options to order or mail them for you. ProspectsPLUS! is the most powerful tool to help you create and send effective mailers to expired listing leads.
11. Offer a Free Marketing Strategy Session
Since homeowners feel frustrated and burnt out when their listing expires, offering them a presentation of an effective marketing strategy for their home can clarify what went wrong during their previous attempt. It also showcases how you can get the job done successfully.
During your presentation, clearly describe your strategy and highlight effective sales approaches, home features, or aspects of the property that were ignored during the first attempt. Also, discuss the marketing tools or strategies you’ve successfully used, and include specific numbers on previous successful sales whenever possible. Ultimately, your marketing presentation proves your dedication to selling the expired listing, which can inspire the homeowner to relist their property with you.
To make your presentation look professional and win over skeptical clients, use the expertise of a graphic designer on Fiverr. Fiverr is a freelance marketplace with expert marketing consultants and graphic designers who offer services for as little as $5. Choose from various packages and look through each freelancer’s previous reviews to find the right fit for your needs and budget. Search on Fiverr right now.
Real Estate Expired Listings Statistics
Finding and generating expired listing leads can be challenging. We researched and gathered several expired listing statistics to help you get a peek and better understand the current expired real estate listings market. Ensure you know recently expired data to prioritize your real estate marketing within your sales funnel accurately.
- Only 1% of all homesellers first tried to sell their homes themselves but then used an agent later on. And, only less than 1% first listed with an agent but then sold their home themselves.
- Only 1% of homes sold stayed 25 or more weeks on the market.
- 3% of all homesellers reduced their asking price four or more times.
- Between 15% and 25% of expired listings have not sold for a variety of factors, including marketing, price, condition, and location.
- Almost 40% of all expired listings or leads will be listed with a new agent within 30 days.
- Roughly 28% of homeowners whose listings have expired intend to re-sign with their current agent.
- 90% of leads from expiring listings are urgent, immediate business.
Frequently Asked Questions (FAQs)
An expired listing is a property posted for sale but not sold within the allotted time range. A canceled listing is a property removed from the market before its sale. A listing may be canceled for several reasons, including declined market conditions or the owner’s decision to move elsewhere. In most circumstances, an expired listing can be relisted without substantial changes; however, a canceled listing usually needs changes before it can be relisted.
Yes, expired listing leads present a hidden opportunity for real estate agents to differentiate themselves in a highly competitive market. You can grow your business significantly by taking advantage of this market’s motivated sellers, lower competition, and higher conversion rates.
While some agents prefer to communicate with clients directly and instantly, others plan their communications using a more arranged schedule. For instance, many agents contact homeowners whose listings have expired in the MLS the morning after the listing has expired. Although calling as soon as the listing expires can be a successful strategy, it can also overwhelm or annoy the owner, who may receive a flurry of calls from agents.
For this reason, some agents decide to send out a marketing packet or use direct mail marketing, such as sending out a postcard or valuable information, to establish initial contact. After the mailing is sent or should have arrived, call them to check in.
Bottom Line
Real estate agents often relist expired listings with success, which makes it a lucrative opportunity for agents to get more listings and grow their business and income. Targeting expired listing leads requires patience, strategy, and marketing expertise. Use these strategies to ensure you craft a complete plan and develop realistic expectations.