Is an Old Expired Listing Prospect Better Than Yesterday’s Expireds?
I don’t know
that there’s a definitive answer, but there are notable reasons to go back
up to a year or more. Here's why!
One. There is a near unending supply of old expired listings... and, arguably, the farther you go back the more favorable price, terms and conditions owners will concede when relisting them.
For example, inflated prices and other unreasonable terms and conditions are softened to make their properties competitive. If not, you can politely decline to accept a listing knowing other expireds are in your pipeline.
Two. The longer the listings have been expired the larger the pool of potential buyers will be. Often times when houses are priced during a first listing, they’re priced to attract owner occupants and owner occupants alone - buyers who aim to homestead the property.
After a home expires one or two times, some sellers reach a point of needing to sell versus wanting to sell, and will set a price that appeals to owner occupants and investors, too.
Three. Finally, and this is the “cat’s meow” of all the reasons to source really old expireds. The farther you go back the greater your chances of finding the diamonds in the rough properties that are ideal for you to flip for personal profit and gain. Or, you might decide to hold onto them and add them to your growing real estate investment portfolio.
Expired Listing Prospects are hands
down some of the best ones to source as a marketing strategy for new and
veteran agents. In addition to spending considerably
less time with one of them than you do with say four or more buyers, you’re
also assured of better conversions. In a word, you work less hard for better outcomes.
Plus, because Expired Listing Prospects tried selling their properties, but failed, they’re eager to be influenced and guided by your recommendations for how to best prepare their homes for the market and prices to get them sold.
Finally, they’re mostly still Realtor friendly, so cold calling them is apt to go off a lot easier than say cold calling fsbos.
Still, cold calling is cold calling, which I personally dislike: and is the reason why I personally prefer prospecting with expired listing letters.
If an owner doesn’t like what you’re offering via your letters they won’t bother to respond to it – hence, no rejection! With the letter system I used to farm Expired Listing Prospects I chose to not follow-up with phone calls and still averaged 2 plus listings a week.
With their laser like focus you could become the Top Listing Agent in your community! Take a look and try them risk free!
Summarily, listings expire every day, plus there is a near endless number of old ones that didn’t get relisted… and that my friend is your rich vein of prospects ready to be plucked.
So, for the million dollar question: are you going to maintain your status quo, or step into higher level of marketing success?
Whatever you decide know that I wish you continued Real Estate Marketing Success!