How to Find Expired Listings in Real Estate: Best Sources & Tips

Introduction

Expired listings are one of the most underutilized opportunities in real estate. These properties may have failed to sell during their original listing period, but they still represent potential opportunities for savvy agents who know how to approach them. The challenge lies in finding expired listings that are still ripe for a second chance.

So, where can real estate professionals find these listings, and what tools and strategies should they use to make the most of them? In this blog post, we’ll explore the best sources for finding expired listings and share tips on how to turn them into successful sales.

1. Multiple Listing Service (MLS): The Foundation of Expired Listings

The most reliable and comprehensive source for expired listings is the Multiple Listing Service (MLS). MLS is a platform used by real estate agents to list properties and share information, and it maintains detailed records of listings, including those that have expired.

Why MLS is the Best Source:

  • Comprehensive Data: MLS provides exhaustive information on listings, including the reason for expiration (e.g., pricing, market conditions).

  • Instant Access: As soon as a listing expires, MLS records it. This gives you real-time access to properties that are no longer available but could be re-listed with the right strategy.

  • Advanced Search Filters: MLS platforms typically offer advanced search features, enabling agents to filter listings by various criteria such as location, price, size, and expiration date.

Tip for Success:

Set up expired listing alerts through your MLS to receive notifications when properties in your target market expire. This will allow you to follow up with sellers promptly and increase your chances of securing a listing.

2. Public Records and County Websites

Public records and county websites are a goldmine for expired listings, especially for older properties or those not re-listed soon after expiration. Many counties maintain an online database of properties, including transaction history, ownership records, and status changes, which can include expired listings.

Why Public Records Work:

  • Free Access: Most public records are available at no cost, making them an affordable source of expired listing information.

  • Historical Data: You can find information on properties that have been on the market for a while, even if they haven’t been actively listed on the MLS recently.

  • Additional Property Information: Public records often provide data about foreclosure, liens, or delinquent taxes that could indicate an opportunity to negotiate with property owners.

Tip for Success:

Regularly check county property databases for expired listing updates. Combine this information with your MLS data to get a fuller picture of potential opportunities.

3. Real Estate Websites and Syndicated Listings

Major real estate websites, such as Zillow, Realtor.com, and Redfin, allow agents and homeowners to list properties that are later syndicated across various platforms. These websites sometimes retain records of expired listings, even if the listings were taken off the market.

Why Real Estate Websites are Useful:

  • Access to Broad Market Data: These sites often display properties that have been removed or expired, giving you a wider range of potential leads.

  • Saved Search Alerts: Websites like Zillow allow you to create saved searches based on specific criteria like price or location, and you can also set up alerts for when expired listings are available in your area.

Tip for Success:

Set up expired listing notifications on popular real estate websites to get alerts on properties that have recently been removed from the market, and follow up with those sellers directly.

4. Real Estate Networks and Social Media Groups

Networking is an essential part of finding expired listings, and real estate-specific networks and social media groups provide valuable leads. Facebook groups, LinkedIn communities, and online forums often have agents who share expired listings, market insights, and sometimes offer referrals.

Why Networking Works:

  • Insider Information: Fellow real estate agents are often the first to know when a property has expired, giving you an edge in the competitive market.

  • Local Market Insights: Real estate groups can provide hyper-local data on expired listings in specific neighborhoods or regions.

  • Direct Connections: Many sellers or investors engage in social media groups, allowing you to connect directly with them about their expired listings.

Tip for Success:

Engage in local Facebook groups or LinkedIn communities focused on real estate. Establish yourself as a resource for expired listings and cultivate relationships that can lead to new business.

5. Expired Listing Services and Subscription Platforms

There are also specialized services and subscription-based platforms designed specifically to help agents track and acquire expired listings. These services provide detailed lists of expired properties and often offer additional tools to help agents reconnect with homeowners.

Why Expired Listing Services are Worth It:

  • Comprehensive Data: These services often provide a curated list of expired listings, with details such as why the listing failed and any price reductions.

  • Time-Saving: Instead of manually searching through MLS or other sources, these platforms save you time by providing all the necessary information in one place.

  • Lead-Generation Tools: Some services even include automated marketing tools that help you reach out to owners of expired listings quickly.

Tip for Success:

Look for expired listing subscription services like REDX or LandVoice, which can provide you with high-quality leads and save time by streamlining the lead-generation process.

6. Direct Mail and Cold Calling

Although more traditional, direct mail and cold calling remain effective ways to find and target expired listings. By reaching out directly to homeowners whose properties have recently expired, you can offer them a fresh perspective and the expertise they need to relist successfully.

Why Direct Outreach Works:

  • Personalized Approach: Direct mail and phone calls give you the chance to personalize your message, making homeowners feel valued and understood.

  • Niche Focus: Direct mail campaigns can be targeted specifically to neighborhoods where expired listings are common, or to certain property types (e.g., luxury homes).

  • Opportunity for Relationships: Cold calling allows you to build relationships with homeowners, even if they’re not ready to relist immediately. This can lead to future opportunities.

Tip for Success:

Create a targeted direct mail campaign that highlights your expertise in relisting expired properties, or consider a follow-up cold calling strategy within a few weeks of a listing expiring.

7. Real Estate Investor Groups

Investors are often the first to know about expired listings, especially in areas with a lot of flipping activity. Many investors are actively seeking properties that were taken off the market and are willing to negotiate a deal, which creates an opportunity for agents to connect with these investors and represent them in the transaction.

Why Investor Groups are Valuable:

  • Quick Transactions: Investors are motivated buyers who are often looking for properties that are priced to sell quickly, and expired listings fit this need.

  • Networking Opportunities: Engaging with real estate investor groups can lead to collaborations where you can assist investors in finding profitable properties.

Tip for Success:

Join local real estate investment groups or national networks, such as BiggerPockets, to stay informed about expired listings that investors may be interested in.

Conclusion

Expired listings offer tremendous potential for real estate agents willing to put in the work to find and nurture these opportunities. From MLS and public records to subscription services and investor groups, there are plenty of resources available to help you find expired listings and turn them into successful transactions.

By utilizing a combination of these strategies and tools, you’ll be well-equipped to spot expired listings, engage with homeowners, and generate new business for your real estate practice. Don't let these valuable properties slip through the cracks—capitalize on expired listings and grow your success in the real estate market.