If you are a real estate agent or broker, one of the most effective methods to attract new business is by going after expired MLS listings. These listings pop up when a homeowner lists their property for sale, but the property is not sold within the listing period. When the listing period is contractually complete with the original seller’s agent, the homeowner is free to find another REALTOR, or withdraw their listing from the market.
For savvy real estate agents, these expired MLS listings are an excellent source of business. Once a listing is expired, a new agent often just needs to reach out to the homeowner, offer an alternative plan to sell the property, and capture the homeowner’s business. In fact, for many agents, expired listings can be a huge source of business. The prospects are already in a position where they want to sell their home. They have already gone through the listing process, and they already appreciate the services provided by a good real estate agent. Often, a homeowner will re-list their home with the first REALTOR that makes contact with them after their listing expired.
There are numerous tools available to give REALTORS a competitive advantage when prospecting expired listings. The two primary services that excel in providing expired Mls Leads to real estate agents are LandVoice and the RedX (Real Estate Data Exchange.) For the successful REALTOR, these services provide access to Listing Leads well before their competition which results in a significant first-mover advantage. To provide and example, often the contact and property information on an expired listing will be incomplete or obfuscated. As a result, when an expired comes available, real estate agents that do not have access to the RedX often need to waste valuable time searching through databases to get enough reliable information to speak to the prospective client. By contrast those that use tools such as Land Voice or the Real Estate Data Exchange have full visibility on the pertinent information, and are even notified as soon as the listing comes available. Thus, the RedX REALTOR has the ability to close the sale well before the competition is even able to make contact.
Tools such as the RedX real estate expired listing lead service and LandVoice both provide successful real estate agents with a leg up over their competition. These are just a few of the many tools that separate the top producing real estate agents with those that struggle with their business.
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