MLS - Any way to find listings that are about to expire?

Question

I realize that MLS systems can vary by region, but is there a way to find listings that are approaching their listing expiration date? My intuition says that you cannot search this information in MLS, which kinda makes sense because in that case you would have tons of agents preying on such listings (that are about to expire).

Does anyone know a way to figure out when a listing is going to expire, other than by asking the listing agent?

Dan Mackin · Answer

I would base it on what the agent consistently uses. We're all creatures of habit so it's likely that they use the same contract lengths most of the time. If you can create a small DB for yourself of each agents lengths based on their prior expired listings that could be helpful. Not perfect, but a possibility.

JOAN DICKIE · Answer

I'm just curious. What would you do with the information? As a real estate agent, you are not allowed to contact the sellers before expiration in most locales.

David Hunter · Answer

In some areas you could just ask the broker when the listing expires and they have to tell you. Though, it's definitely not a way to make friends.

Dan McCluskey · Answer

@Steve Vaughn.....you're house languished on MLS and didn't sell for months on end because it was overpriced....plain and simple.

Any house will sell if it's priced right to start with.

Most times it's not the agent's fault. Once it's on MLS, the entire real estate field gets notice, then Zillow, Trulia, and the rest. Everyone sees the price and can see it's seriously overpriced for what it offers.

I doubt wholesalers and FSBO's get the same depth of market reach with their "marketing" methods.

Bill Bodziak · Answer

Avoid marketing to any specific current listing...period. Ethics complaints from competing brokers will be a huge headache and could be very costly. Many agents target expired listings, good luck!

Wayne Brooks · Answer

I'd love to hear from investors who have had some Actual success with expireds. The properties were obviously priced above retail, and rest assured the agent had been trying to get them to lower the price. Now an investor wants to buy at a discount off retail. Just doesn't seem like a match made in heaven.

Rusil Patel · Answer

An fellow agent asked me this question so I came to BP in search of insight. Thanks everyone for your replies! @Dan Mackin good idea about looking at habits of an agent!

Seems like the most direct way to get this info is go ask the LA, if we are looking at just one particular listing.

Steve Vaughan · Answer

The last thing I would want as a homeowner that watched my listed property languish on the market for months on end would be to renew or sign up with another one. @Rusil Patel was speaking as a private investor. It is a good idea. Perhaps an agent friend and yourself could work something out, Rusil?

For obvious reasons I don't have any!;)

Dennis Olson · Answer

Once expired you can run a report. The issue with a report that shows upcoming expirations lends itself to the assumption that the contract will not be renewed. Using this approach borders on the unethical and the National Association of Realtor Code of Ethics Article 15 SoP 16-2. You are not allowed to directly contact a client already under contract with another Realtor. You can send solicitation to an entire neighborhood as a general solicitation or if asked by the client directly you can offer your information and services provided as long as you don't advise to cancel current contract in order to engage you.

MLS - Any way to find listings that are about to expire?

MLS - Any way to find listings that are about to expire?

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