Ever wonder about houses that don’t sell? Do they just fall through the cracks of real estate? Some do. Some sellers don’t try to relist, at least not right away because they’re overwhelmed or exhausted or have lost trust in realtors in general (if an agent failed to help sell their property). But you, as a real estate agent, can capitalize on these expired listings in Manhattan and Brooklyn and turn them into sold properties. It’s a great avenue to build your business and your brand in real estate.
So how do you begin to look for these listings that have expired? That’s where you start, is searching them out. From there, you can work to bring them in as clients. But let’s get into how to find the best candidates first.
1. Search the MLS or get leads delivered to you
You can begin by searching the MLS for listings that are about to expire. Note here, though, don’t contact them until the day after it’s become expired. This is a small but important note.
The other main way to find expired listings is to have the leads sent directly to you. You can sign up with us, ExpLiMO, for a package that will include receiving phone numbers or emails of expired listings as soon as they become available. This is the best way to get the leads immediately and be the first one to reach out to them.
2. Don’t neglect older leads
Although it’s great to be the first realtor to reach out to an expired listing, it can also be helpful to contact the older ones that expired a while ago. These sellers may not have been ready to list again right away, but could be ready now. There also is a chance there’s more equity built up in the home now, and the house may turn a heavy profit.
3. Look for subpar marketing
You may notice some of the leads you’re receiving had poor marketing when they were previously listed. This is a good indication that there was a disconnect between the agent and seller or the seller was a FSBO and neglected this important part of the process. Poor marketing presents a chance for you to scoop up that listing, do the marketing right, sell the home, and make a profit for you and the seller.
4. Notice listings where the price was reduced
If the price was reduced over the time the listing was previously on the market, it shows flexibility on the part of the sellers. They’re not immovable in price. They may be open to relisting with you and hearing what you think is the right price to list at.
Delving into the world of expired listings in Manhattan and Brooklyn presents unique opportunities to grow your real estate business and turn profits on sold properties.
*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan and Brooklyn real estate agents to prospect for expired listing leads and grow their business exponentially.