There are some markets that every agent tries to tap into — FSBOs, newly expired listings, foreclosures — just to name a few. But there’s a widely untapped niche that can turn around some major leads. We’ll tell you exactly what that is, why you should focus on “old expireds,” and how to get the listings.
So what do we mean by old expireds?
We’re talking about listings that have expired — months, possibly even years before now.
Typically, just as soon as their listing expires, sellers get bombarded by every agent in the area trying to secure the new listing.
When you throw your hat into that ring, chances are pretty high it’s going to get lost amid the hundreds of others vying for business.
Targeting newly expired listings means you will always be competing with lots of other agents…
Why not wait until the calm AFTER the storm?
Shifting your focus from the newly expired to the “old” means you’ll be entering the game after the competition has already played itself out… it’s the perfect time for you to dive in.
Why patience is a virtue
Approaching a seller well after his listing has expired — instead of immediately after — means that you’re more likely to find someone who isn’t overwhelmed with decisions and new information. There’s a much greater chance that person will be interested in what you have to say.
Some newly expired sellers don’t want to re-list their homes right away.
Maybe they want to wait a few months, hoping for a better market. Or, perhaps, they’re planning some renovations to make their property more attractive to buyers.
By waiting for some time to pass before you make contact, you may be stepping onto the scene just as the sellers have begun to consider putting their home back on the market.
Of course, you will come across those who no longer wish to sell. This happens more frequently with listings that have been expired for a long time. But more often than not, these sellers are open to hearing what you have to say.
Old expireds could be some of the easiest listings you’ve ever gotten, and you don’t need to look far and wide to find them.
Are You Missing Out On The “Acres of Diamonds” Buried In Your Market?
Many agents are busy chasing whatever new ideas and strategies are currently trending in real estate. They run ads on Facebook, try to optimize their digital marketing strategies and gain clients in other non-traditional ways.
But the truth is, they’re totally ignoring the spectacular opportunities buried right in their own backyards…
Consider the story of Farmer A.J.
He was a fairly wealthy man, running a successful farm, and enjoying a pretty good life.
He began hearing stories about people who had made millions of dollars by discovering diamonds. These tales of buried treasure so excited A.J. that he decided to sell his farm and go prospecting for himself.
Unfortunately, he spent the rest of his life wandering the globe searching unsuccessfully for his prize. When he died, he had nothing to show for his efforts.
What makes AJ’s story so sad isn’t the fact that he spent his life on a wasted quest.
As tragic as that was, the cruelest twist of fate occured when the man who bought A.J.’s farm discovered something while crossing a small stream on his new property…
It was a clear spring day as the farmer began stepping from stone to stone. A bright gleam shining from the water by the rocks at his feet caught his eye. It turns out, there were diamonds — acres of them — buried right there on the property.
So why are we telling you this story?
Because as Realtors, many of us are focused on the latest trend and the best way to turn around a quick profit. But when we spend all of our energy chasing those trends, we are missing out on the diamonds in our own backyard!
Old expired listings are as good as treasure, and they are buried right in your marketplace…
You just have to know where to dig.
We often hear agents say things like, “The market’s so hot right now; it’s really hard to get listings.”
When you’re thinking like a traditional agent and pursuing the same leads as everyone else, of course you’re at a disadvantage! You’re also virtually ensuring you’ll be competing in a saturated market that will yield little to no results.
If you direct your efforts toward more obscure niches — like old expireds — you can find a whole new world of opportunity.
Here’s How I Discovered My Own “Acre Of Diamonds”
When Smart Agent Ben first started out in real estate, he was working primarily as a buyer’s agent. A large chunk of his time was spent driving prospective buyers all over town. Unfortunately, the only thing it guaranteed him was a hefty gas bill. He wasn’t seeing results and was losing traction fast.
“I was calling the new expireds, but they were already getting tons of phone calls from other agents. I tried the FSBOs, but they had just as many calls. I did end up listing some of them, but it was challenging, uphill work.”
Ben recalls the scenario that opened his eyes to a new opportunity…
He was working with a client who wanted to buy a home in a specific neighborhood. Unfortunately, Ben was unable to find properties in that area to satisfy his selective buyer.
“Then, I remembered a house that was in the target neighborhood that I’d shown to somebody else some time before… I was confident it would be a home worth looking at for my new clients.”
When he pulled up the address in the MLS, he discovered that the listing had expired a few months earlier.
He was able to arrange a showing for the buyer, and though he didn’t get the sale, something clicked for Ben. He realized he’d discovered something infinitely more lucrative.
He had uncovered an amazing opportunity!
“I realized there had to be lots of other expired listings — forgotten, just like that one.”
So he checked it out…
“In just that one MLS area, there were over 100 old expireds! I started contacting them, but I didn’t stick to just that area. I was calling on old expireds all over the place, and I started getting listings.”
Ben was able to list a large number of properties, primarily because…
…there wasn’t any competition.
“I didn’t have a great listing presentation, I wasn’t a great salesperson, and while I did know the market because I had worked with so many buyers, I really wasn’t the best Realtor out there either. If I was able to get listings at 20 years old, with limited skills as a salesperson and a subpar listing presentation — I know that you too, can get listings today by tapping into this niche.”
When you’re just starting out, or you don’t have a lot of listings, it can be difficult to have confidence in your abilities…
You might feel like your hopes, skills, investments, and dreams are all squashed into one big ball, just sitting there waiting to catch a break. Maybe you’re being held back by intimidation, worry, or fear of failure.
Or maybe you’re waiting for someone or something, to come along and give you just the right push!
When you follow the strategies in this guide, the results will empower you to become a more successful agent than you ever thought possible! You won’t be waiting anymore.
And you’ll be the one kick-starting your career…by snagging Old Expireds — the smart and easy way to get your ball rolling!
There’s just three basic steps you need to know to start listing old expireds:
When you find an old expired lead:
- call them
- send them a book
- follow up
So now you’re “in-the-know” about the amazing opportunity old expired listings can offer.
We’ve shown you three things you’ll need to do to start working these leads, and with limited competition, you should be well on your way to getting those listings!
But we’re going to go one step further and show you exactly how you can list four of them in the next 30 days…
Putting in the work
The most important thing, as in any niche, is consistency.
The key is to be strategic and persistent. Listing old expireds can be an easy ride — but you need to work smart!
Let me break down the three steps for you, into an exact plan of action.