Realtors and Expired Listings

[Robert Burns]

How do realtors feel about providing investors with expired listings? How do realtors get paid for deals made on expired listings?

[Michael K.]

Originally posted by Matt Mathews:

I teach them and show them How To Sell their own home. Then I negotiate the buy on behalf of my Investor clients. If the mortgage is clean and paid-I will talk about seller financing and/or Lease Option. If it's a short sale, I will negotiate with the asset manager on behalf of the seller in order to get a price locked in. Expired listings are only good as long as you have a motivated seller. Nine times out of ten the reason it expired in the first place was because the property was over priced by the listing agent. Now the seller needs to be educated on just where the price point is for their home. Also, to note! For every one Expired listing on the MLS, there are ten agents on the phone, hounding that seller to put their Agency sign in the yard. If you want to complete with that, then you should try and find a Buyers Only Agent!

All very true! Properties don't fail to sell because they're priced properly!

Some of my greatest successes come during the off-season with properties that expired 12+ months prior. Those owners either had entirely given up and lost all hope, installed any tenant who could fog a mirror and are paying dearly for that rent, or are eating heating bills/property taxes/etc. on an empty property. They want out and are often far more realistic in their pricing.

Mike