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How to Find Expired Listings [Guide]

Jerry Norton

Nov 30, 2023

As a real estate investor, you’re looking for below market deals that you can either fix and flip or rent out for monthly income. 

This includes short sales, vacant properties, foreclosures, zombie properties and more.  

Did you know there’s another property type where you can get a below market deal and work with motivated sellers?
It’s true. 

Expired listings can be a real estate investor's dream — if you know how to find them. 

In this article, we’ll break down the advantages and disadvantages of investing in expired listings, and most importantly, how you can find one for your next real estate investing deal. 

What are Expired Listings?

An expired listing is a real estate property that has not been sold by the end date. 

The end date is an agreed-upon point in time between the listing agent and seller of the property.

Typically, when someone wants to sell their home, they decide upon the length of time that their property will be listed for sale. 

If the property does not sell within that allotted time frame, it is then considered an expired listing if it is not renewed.

Expired listings can occur for the following reasons:

  • Priced too high
  • Poor staging
  • Inexperienced real estate agents
  • Oversupply of homes in the same area
  • Poor marketing
  • And more

Expired Listing Vs Withdrawn Listing

It is important to note that a withdrawn listing is different from an expired listing. 

A withdrawn listing is when a property is withdrawn from the realty market due to not receiving any offers or the homeowner not accepting the offers received.

That being said, there are several advantages and disadvantages to investing in expired listings. We’ll look at a few of them below. 

Advantages of Expired Listings

The primary advantage of investing in an expired listing is that the sellers are highly motivated. When a listing expires, it can lead to the home seller becoming more motivated to get rid of their property, which can lead to a price decrease for you as the real estate investor purchasing the property. 

Disadvantages of Expired Listings

The primary disadvantage of investing in expired listings is competition. An expired listing can create the perception that the seller is desperate to sell. This can lead to several interested parties offering lower prices—since it didn’t sell in the first place, thus creating more competition. 

Also, unhappy homeowners homeowners who can’t sell their homes may naturally feel distraught. This may make working with them a bit more difficult than homeowners who are putting their home for sale for the first time. 

How to Find Expired Listings

There are several ways to find expired listings. These include:

Propwire

By using Propwire’s up-to-date MLS data, you can find expired listings by simply filtering your search criteria. 

Once you have a property you’re interested in purchasing, you can then use Propwire’s industry-leading skip trace tool to find and contact the owner of the property for just 10 cents.

Run ads in the newspaper

Use old-school methods to garner more attention from homeowners who couldn’t sell their homes. 

Placing an ad in the newspaper can let them know you are interested in buying their expired listing.

Go door-to-door

Once you find an expired listing, you can approach the door directly. 

Knock and immediately state that you are interested in buying their property.

Send expired listing postcards

Place expired listing postcards in the mailboxes of homeowners wanting to sell. 

State who you are and your experience, and let them know you can help them sell.

By planting the seed, you allow homeowners with expired listings to come directly to you. 

While this is a more costly option, this is a great way to build a repertoire. 

Attend expired listing open houses

When an expired listing homeowner offers an open house, be there. 

It is imperative to introduce yourself and detail what separates you from other buyers. 

The Bottom Line: Expired Listings

Expired listings offer more advantages than disadvantages for real estate investors. Homebuyers are more motivated and the cost may be less than the original asking price — which means more profit for you. 

To get started, try Propwire’s search and skip trace tool today.