Expireds Guide - Authorify

Chapter 1: Reasons Listing Expireds is a Must Do you remember how bad the housing market was the last time it crashed? I know I do — it crashed especially hard for agents in my area. We all know a future slowdown is inevitable; the market always rises and falls over time. Even if the market doesn’t crash as severely as it did last time, you can anticipate the rise of other challenging conditions. Wouldn’t you like to avoid the pain when that happens? You can survive, thrive, and even prosper in the next crash. Here’s how: get really good at working with expired listings. Expireds can become your “bread and butter” whether the market is hot or not. But you can make a lot of money even during market slowdowns by focusing on expireds. #1. There will be a tremendous opportunity to get listings because the market will be flooded with expireds. You can make a ton of money by working the expireds and cherry-picking only the sellers who are motivated. Right now, we have approximately 10,500 resales every six months in the Jacksonville, Fl. area. During the bust of 2009 and 2010, that number was only around 3,500 sales every six months. That’s less than half of what it is now, but notice that it didn’t drop to zero. #2. When the market slows down, the number of real estate agents drops. Many agents become demoralized and quit to pursue other jobs. If you’re a good, hardworking, aggressive agent, you can easily grow your market share during a market slowdown. Expireds are the key, so if you’re concerned about a market slowdown in the future, that’s where your focus should be. #3. There are always expireds, even in a “hot” market. Let’s imagine you’re in a market that’s so hot there are no expireds. Here’s the secret: there are actually thousands — potentially tens of thousands — of expireds hidden below the surface. I’m talking about what I call the “old expireds.”