Expired MLS Listings...
Does anybody here market to expired MLS listings?? How does one go about finding expired listings? Do you need to make friends with Realtors and have them supply you with them?
Is the agent under any kind of moral responsibility or anything like that NOT to give out this information?!?
Thank you,
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Realtors are ostensibly held to confidentiality re. anything having to do with the MLS. However, one technique that always worked for me is finding a new or low performing agent and agreeing to pay their MLS dues and/or for their E&O insurance premium for the right to see the MLS (or get their computer code).
If you can get the Expired's, they are a good source to work with if you have a better deal to offer. But you do have to get there before the agents do who are constantly scanning the Expired’s as a source for new listings.
What I do (or "did" when I was working Expired’s...I don't anymore) is get letters out to them explaining that “I buy houses at full value, all cash or terms with fast closings...and that I can save them closings costs and real estate commissions if they will hear my plan first, before considering another listing.
Certified or registered mail: It's more expensive, but the best response I ever got was when sending all the letters by registered mail.
Bill Gatten
In are state of Tx, by law of the board of Realtors, if you call and ask an agent for the expired date and they do not give it to you willingly, you may then, contact the seller direct. This does not build friends in the business, but we work together for the seller, what is their best interest?
A better way might be to show their property to some of your buyers and leave a business card, on the back put need a RE Agent? I can help!
LindaTx
Quote:
On 2004-09-27 16:22, mattfish11 wrote:
Does anybody here market to expired MLS listings?? How does one go about finding expired listings? Do you need to make friends with Realtors and have them supply you with them?
Is the agent under any kind of moral responsibility or anything like that NOT to give out this information?!?
Thank you,
:-o
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Expireds are a lousy bunch. If the listing agent could not talk the seller down to a reasonable price to get their home sold, you can bet you won't either. There are such people that really don't care if their home sells or not. They WILL sell at the huge price they are asking. :-(
I have worked with dozens of folks, Expired’s, who are sick of Realtors because their Realtor (in their minds) didn't do the job they expected...not only because the property was over-priced.
Personally, I like Expireds because I can give them what a Realtor simply can not...a convenient way out, a higher selling price and avoidance of a DOSC violation, for example… if they will carry the current financing for a few years.
Even if the property is over-priced or even over-encumbered, I'll take it in a heartbeat if I can get a positive cash flow and a chunk of money up front when I put in my resident beneficiary partner to make all the payments and share future profits with me.
Also, when I show a disgruntled seller that my services are only half of what their next best option is (i.e., a Wrap, CFD, L/O, L/P, Renting, Equity Sharing, Short Sale, Foreclosure, etc.), they are happy to pay me to help them out from under the burden of and unwanted property. And frequently, the over-encumbered (over the barrel) agree, not only to pay me to take the property, but to pay part of the monthly payment obligation as well (a lot less than paying tax on their debt-relief, or the negative CF they’d have to suffer with a lease or lease option).
I’ve acquired several hundred properties like this and am currently holding perhaps 40-50 of them in various areas of the country. And with at least 25% of these properties the seller has paid me to take them; and in as many others the seller is gladly paying part of the monthly payment (i.e., providing me a good cash-flow where otherwise there might not be any).
The important part of this thread re. working Expireds is this:
Any time you can find a bolus of like-minded sellers in one place (foreclosure lists, BK records, Marital dissolution records, delinquent tax lists, classified ads and expired listings...it’s a simple matter to cull carefully through them all in order to find out who’s motivated and who’s not. It's just a matter of contacting everyone to see which ones need what you have to offer and which ones couldn’t care less. Me…I use the mail and answering machines so I don’t have to talk to anyone, be challenged unnecessarily or face rejection. When they call me they’ve already screened themselves.
Kiss a dozen frogs and you'll get at least one princess...every time.
Bill Gatten
Realtors that give you MLS access... Give me their name, I will report them to the board! Did you know that they can loose their license? at the least access to the MLS and be fined. If you are working with an agent that gives you access...you are right, they won't make it in real estate. :evil:
I am a realtor and mail expire and withdrawn and for some reson have not have good response.
after a expiree has seen that thw listing did not work. they may be ready to deal. it is a good market to explore...km
There are some agents that don't do their jobs but a large portion of expireds are overpriced, very poor condition(same thing). Bill just listed a few other avenues i would definatly pursue before expireds. Sub-2s typically won't work as they need to purchase a new home. Short sale for the same reason. Theres nothing that going through expireds that going through divorces and foreclosures can't cover.
Quote:
On 2004-11-02 21:18, kenmax wrote:
after a expiree has seen that thw listing did not work. they may be ready to deal. it is a good market to explore...km
This link may help, found it online. let me know if it doesn't work, might be cookie specific. MLS online. Also have a link for, for sell by owners, if need just holla
http://www.mlsonline.com/index.cfm?page=usstate&stype=mls
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Find a Realtor that will work with you!!
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