Expired Listing - Posted by Pat

Posted by Robert M. Campbell on March 25, 2000 at 17:54:11:

Nice strategy, Darin.

A man with a plan. A good plan!

Robert M. Campbell

Expired Listing - Posted by Pat

Posted by Pat on March 24, 2000 at 23:22:17:

I just received an expired listing of area properties from a friend who is realtor. (About 150 multi-family and 50 SF properties. All expired in 1999). I intend on calling each listing and asking if the home is still on the market. Has any worked with this type of listing and what was your response? What method did you use to contact the homeowner, call, mailing, person to person, etc.? Any insights will be appreciated.

Note: One of the properties is located around the corner from me. It is vacant and in need of some TLC. Good area. Needless to say that will be my first call tomorrow.

Very Powerful Way - Posted by Darin

Posted by Darin on March 25, 2000 at 12:27:44:

Expired listings are great. There are a couple differnt ways to approach.

Mailings, Calling and even going to the door. Having a Real Estate license is great for this. You can run the expireds every morning and be the first one to call and offer to buy there home. Get the appointment and if they wont do your deal, I get the listing with the agreement that in 60 days, if it is not sold, I will buy on terms. Of course each case is differnt and there always seems to be a better deal if you can cash them out. The beauty is you make your offer for less than market value + take off another 7% for commissions.

One thing to remember, expired listings usually expired for one reason, They Were OVER PRICED TO START WITH.

It is easy to determine why it did not sell by first seeing the house and asking a couple questions. How many times it was shown, how many offers, how long was it on the market…

By asking the right questions, you can determine if it did not sell because of the agent, the sellers, the price, the condition and so forth.

The top reasons why I see homes not sell is #1 Price - #2 Bad agent( was not truthful from the start and told the sellers a high price just to get the listing and never tried to get it reduced, never followed up, never promoted the property or promited offers, did not really find out the sellers true needs and reasons for selling)
#3 sellers fault - property is not easy to show because of no lock box or they have a dog or the house is filthy or in need of minor repairs.

Those are some reasons sellers need us. Maybe they are in a situation where it is hard for them to sell in a traditional way through a realtor.