- HARRIS Real Estate Daily
- Posts
- đĄ 8 Expired Secrets to Dominate Your Market!
đĄ 8 Expired Secrets to Dominate Your Market!
Use these secrets to turn them into a steady source of incomeâand dominate your market!
Tim and Julie Harris
December 09, 2024
In partnership with
Good evening, agents! đ Letâs talk about one of real estateâs most overlooked goldmines: Expired Listings.
While others are chasing cold leads and unpredictable referrals, smart agents are leveraging this treasure trove to rack up listings, sales, and serious commissions.
Expired Listings are a sweet spot in the real estate market, with motivated sellers and fewer competitors (if you know how to play your cards right).
And tonight, weâre sharing eight secrets to help you turn those expired opportunities into a consistent pipeline of success.
First time reading? Sign up here with just one click.
IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching
    |
PRESENTED BY AGORA
Simplify your fundraising process
Close more deals, faster
Raise more equity
Track soft commitments
Accelerate your fundraising processes
Show us a little love by supporting our sponsors â¤ď¸
WHY EXPIRED LISTINGS ARE YOUR FAST TRACK TO SUCCESS
Your number one job in real estate is to generate new business. Without a steady stream of new listings, nothing else matters. You could have the most polished listing presentation, excel at pre-qualifying prospects, and even be a skilled negotiator and closerâbut without leads, none of that matters.
Working with Expired Listings can be a game-changer. When mastered, this lead source can end the feast-and-famine cycle in your business forever. Listings generate more than commissionsâthey attract buyers, too. Thatâs why seasoned agents say, âYou have to list to last!â
Prevalence of Expired Listings: Approximately 15% to 25% of property listings do not sell within their initial listing period, leading to expiration.
Relisting Rates: Nearly 40% of expired listings are relisted with a new agent within 30 days of expiration.
WHY EXPIRED LISTINGS MATTER
Listing and selling just one expired home per month can generate over $115,000 annually, assuming a $400,000 average sale price and a 20% split with your broker:
$400,000 sale price x 3% = $12,000 gross commission
20% broker split = $9,600 net per deal
$9,600 x 12 months = $115,200 annually
| |
8 EXPIRED SECRETS TO DOMINATE YOUR MARKET!
1. There Are More Expired Listings Than You Think
Most agents miss opportunities because they donât monitor Expired Listings consistently. Do you know how to find Expired listings? Use the Daily Hotsheet via your MLS or a system like RedX to find the information for you.
Action Step: Check the expired opportunities daily, not just occasionally. Cast a wide net to include all areas, price points, and property typesâyouâll be surprised at how many opportunities are out there.
2. If You Canât Find a Phone Number, Neither Can Anyone Else
Many agents stop at online searches when they canât find the ownerâs contact information. This is an opportunity, not an obstacle.
Action Step: Be the agent who goes the extra mileâknock on their door. Offer not just to relist the property but get it sold.
Always have 3 PreListing Packages in your car, ready to deliver to Expireds. 10x your efforts by committing to doorknocking at least 2 Expireds every day.
3. Expired Sellers Are Ready to Make Changes
After the frustration of an unsold home, Expired sellers are more willing to listen to your advice:
Remedy negative feedback.
Adjust the price.
Loosen showing restrictions.
Improve the pictures and description.
Action Step: Highlight what youâll do differently to succeed where the previous agent failed.
4. Start with Higher-Priced Expired Listings
Agents often overlook higher-priced homes, yet these sellers are just as motivated and will sometimes become buyer clients for you.
Action Step: Target high-end properties firstâtheyâre the same amount of work but offer bigger paychecks.
5. Re-Listed Expireds Sell Quickly
Fact: Many Expireds sell almost immediately when relisted, often due to better pricing or updated marketing.
Action Step: Create a Google Sheet of the top 20 Expired listings youâre pursuing. Replace them as you list them, they get relisted with someone else, or they tell you theyâre not selling anymore. Donât give up until youâve made contact!
6. Donât Ignore Older Expireds
Few agents contact Expired Listings that are 6 months to 2 years old, yet these properties often achieve the original price the seller wanted.
Action Step: Reach out to older Expireds and withdrawn listings. Be the agent who reconnects them with the market. You may be the only agent calling!
7. You Can Curate Your Ideal Inventory
Pursuing Expired Listings allows you to choose the neighborhoods and price ranges you want to specialize in.
Action Step: Build your inventory strategically by focusing on areas or price points that align with your goals. Thatâs what your Google Sheet of Top 20 Expireds is for! Raise your average sale price using this strategy.
8. Watch for ExpiredPalooza at the End of Each Month
The first and last days of the month are prime times for Expired Listings to hit the market.
Action Step: Plan to dedicate extra time to prospecting around these dates to maximize opportunities.
Monday holidays are ideal to find sellers at home both on the phone and by doorknocking!
Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: REDX
| |
CONCLUSION: THE 30-DAY CHALLENGE
Set a goal to contact at least two Expired Listings every workday for 30 days. Track your progress and watch how many listings you secure. Then, rinse and repeat for consistent success.
Pro Tip: Expired Listings are a goldmine when approached strategically. Use these secrets to turn them into a steady source of incomeâand dominate your market!
Youâre welcome! âşď¸
REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harrisâs favorite PROBATE LEAD PROVIDER? Simple, ALL THE LEADS
SPONSORED
Season tickets are the best, right? Front-row seats, exclusive access, and the ultimate fan experience. But let's be realâlife happens, and you canât make it to every game.
Why let those tickets go to waste when you could be making extra cash? With Lysted, you can effortlessly sell your unused tickets on all the top platforms like StubHub, Ticketmaster, and SeatGeek.
It's fast, easy, and puts money in your pocket without any hassle.
TAKE ACTION TODAY
Join our Premier Coaching for free, and get daily coaching sessions, expert scripts, and the strategies you need to tackle prospecting head-on. Sign up at https://premiercoaching.com.
And if youâre ready to take that next big step, consider joining the EXP Realty team. Visit https://whylibertas.com/harris or text Tim directly at 512-758-0206.
AND THAT'S A WRAP!
Keep learning, keep building,
Tim & Julie Harris
Harris Real Estate Daily
P.S. This newsletter is free (for early subscribers). Enjoy!
Forwarded by a friend? Sign up with just one click here.
P.S. Donât forget to whitelist our email address to make sure you never miss an update from us.
What did you think of today's newsletter?We love all types of feedback! |