Follow Up on Expired Listings

Expired listings are properties that didn’t sell while there was a listing contract in effect. You can usually find the expiration date in the listing details for a property on your multiple listing service (MLS). The minute a listing expires, sellers are typically inundated with calls from agents who want their business. Why? The odds of converting a frustrated seller are higher than finding new business from a completely cold call.

Watch for Aging FSBO Listings

FSBO listings can be tougher to convert. That said, it seems like most of the FSBO listings in my town eventually wind up being sold by an agent. Property owners chose to go it alone for a reason, usually to save on commissions. In time, many come to realize how much work is involved with selling a house and realize that they may be missing out on the kind of exposure a brokerage can give to their listing.

Others realize that they still might need to offer a commission to the buyer’s agent since most buyers have representation. While it’s impossible to know when they’ll be ready to throw in the towel, it never hurts to let a FSBO know you’d be thrilled to help them get it done.

Pro tip: You cannot knowingly solicit business from someone who is currently signed up with another agent. You’ll save time and stay out of hot water by asking upfront if they have a signed representation agreement with another agent. Do this before you make your pitch.

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