Expired Listings

[Robert Burns]

I've recently gotten access to the MLS with a local realtor. One of my first activities is to extract expired listings for wholesale and/or lease option leads. Does anyone have any suggestions on the best way and parameters to use this valuable resource?

[Brian Gibbons]

Hi @Robert Burns ,

I love expired listings, as the sellers tried to list with an agent, and usually the agent has really disappointed the seller.

Realize that timing of contacting the seller is important, and many other agents are contacting exprieds as well as other RE Investors.

So, how do you differentiate yourself?

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Door knocking works.

Go early evening or weekends.

Have some qualified Tenant buyers first.

Use this Tenant Buyer Qualifying Sheet.

http://www.biggerpockets.com/files/user/REISkills/file/tenant-buyer-eval-form

Knock on the door, say,

"Hi I am looking for 1 house in this neighborhood to buy, do you know of any homes that might be for sale?

Oh your house is for sale?

Can I do a quick walk through Just 10 minutes?"

After the walk through, you then you bridge over and tell them of your buyers for rent to own etc.

Be a reluctant buyer. Use appeal to a higher authority, as

I"I will need to check it with my partner."

Do not be overly enthusiastic.

Make sure all parties on the deed are present. If not present, do not talk about money and contracts, and reschedule for all parties to be present.

Try to get a letter of intent signed on the first meeting. You need equitable interest in a lease option to market their house.

I hope that helps!

Brian