Expired listings are often overlooked as potential sources of new business, but they can present the creative agent with excellent new clients.
By connecting with sellers who have already tried unsuccessfully to sell their homes using the services of other real estate agents, you have an opportunity for new business. But these potential clients may require some wooing.
There are many reasons why these properties didn’t sell the first time. At the top of the list is communication between the seller and the former agent. For example, if the property was priced too high for the market, either the first listing agent was overly optimistic or the seller refused to accept the agent’s advice and insisted on a higher price.
In either case, here’s an opportunity for you to put your communication skills to work, explaining to your potential client what may have happened previously and describing how you would approach the sale this time around. But be prepared to support your proposal.