If you think there is no good way to increase your listings and sales, you should think again. The best real estate marketing idea may be to farm expired listings. This is why!

Expired listings are not a secret, but…
Expired listings are probably expiring from your Multiple Listing Service even as you read this article. It is a common occurrence that happens daily, from coast to coast. Many agents know about them but choose to do absolutely nothing about it!

Many agents assume that other agents will farm them, which is why farming expired listings can be so lucrative. If most real estate agents assume that other agents are chasing them, there’s no limit to how much you can convert into new listings!

So while expired listings aren’t a secret, they’re hardly overworked!

Expired listings are plentiful
How abundant are the expired listings in your area. Let’s take a moment and find out.

1. Log in to your listing system

2. Do a search for expired listings for the entire past month

3. Now divide that number by the number of days in the month to get an idea of ​​the average number of listings that expired daily.

No matter what the number is, it represents an opportunity for an entrepreneurial type of agent to create business where none were previously available. Contrary to what you might think, owners of expired listings are generally eager to get on with the business of relisting and selling their properties.

Many are willing to make the kind of concessions necessary to sell their homes during a new listing period. For example, they may be willing to paint the exterior of the house and do other things that create curb appeal, or reduce the price of their properties to make them more competitive during a new listing period.

Expired listing owners can be some of the nicest people you will meet and they make great customers. They are typically friendly with real estate agents, know the listing and sales process, and have a better appreciation of what it will take to sell their properties during a new listing period.

Expired listing systems

When cultivating expired listings, I recommend that you go with a proven real estate marketing script. Essentially, the system will contain step-by-step instructions on how to effectively convert expired listings to new ones. The best ones contain all the letters, tools, and information you’ll need to succeed!

Some expired listings can be quite expensive, but don’t get sucked into the mistaken belief that the more expensive a product is, the more effective it will be. On the contrary, the simple and cheap can be deadly effective!

Conclusion

There are many good reasons why cultivating expired listings is a good real estate marketing idea, but this is what it basically boils down to! When you have listings, you double your chances of making money, whereas no listing could equal a short career in real estate sales.