The Single Most Important Tactic for Expired Real Estate Listings

Did you know there are three dates on the calendar when more home listings expire than almost any other time during the year? These dates are:

When a listing expires, it signifies missed opportunities and unresolved challenges for homeowners. For real estate agents, this presents a unique opportunity to step in and offer the expertise that was previously lacking.

Homeowners with expired listings often feel frustrated and disheartened. They need a trusted advisor, not just another salesperson. Understanding their mindset and addressing their specific concerns is crucial for turning expired listings into successful sales. This article delves into effective strategies for engaging with homeowners whose listings have expired and how to position yourself as the solution they need.

Mastering the Seller’s Psychology

Understanding a little bit about human psychology is key to your success when interacting with a seller whose listing has expired. Three different behavior patterns you may notice include:

Ask the seller about concerns they had with their previous agent’s performance. What are some things that might have improved the listing experience for them?  This allows you to align with their values and goals.

Then, through this conversation, you will receive all of the information you need to put together a listing presentation that directly addresses all of the needs specific to this seller and their unique situation.

Things That May Have Prevented the House from Selling

Helping the seller see the things that may have prevented them from selling the house will position you as a trusted advisor who’s there to help – rather than just get the listing.

They certainly don’t want the listing to expire again, so make sure you understand and address the factors that may have prevented the house from selling the first time:

Explaining the Seller’s Options

When you meet with someone after their real estate listing has expired, you shouldn’t be trying to convince them to sell their home (that’s what salespeople do).

Instead, you should be helping the seller discover what their options are, explaining the pros and cons of each option, and then letting them make the decision that’s best for them and their family.

Every seller whose listing has expired has four options:

Bottom Line

Some agents think expired listings are too much work to pursue. But it’s not the listing that’s the issue – it’s the lack of an effective plan.

This means an incredible opportunity for the right agent with the right plan – an agent like you.