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Expired Listing

For two years, low inventory coupled with high demand fueled a housing surge through COVID. Bidding wars for builder homes in every day neighborhoods became the norm. Buyers commonly, drove prices well above asking price and sale prices rose by 30% across the country. Safe to say it was a seller’s market.

In general, it was good times in real estate, except for those which had built their business on prospecting Expired Listing Leads. Why? Nothing Expired, nothing Cancelled. With the lack of inventory, and buyers sitting on additional savings, every home on the market was scooped up. Typically, within days of being listed.

COVID is not over, and neither is the need for people to find housing, but the peak of early 2021 is now well in the rear view mirror as inflation, rising interest rates, and Americans returning to eating out and travel have shifted the seller’s market to a buyer’s market.

The tough part is that it does take a longer, but a normal amount of time to sell a home in this market. However, the good news for hustlers is that the Expired market is back in play. With buyers still willing to wait on the sidelines, and some sellers unwilling to accept the new reality that they might have lost 10% to 20% of their sale price in the past 6 month, an old stand by in the leads game is back in play.

Expired Listing Leads are on the rise and now is the time to get them into your pipeline as they will only multiply over the holiday months, setting you up for a great first quarter in 2023. Please let us know if you would like help getting back into Expired Listing Leads or if you are interested in adding these to your pipeline.

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