Expired listings are properties that didn’t sell during their listing period and can be great opportunities for real estate wholesalers. Sellers are often motivated, competition is lower, and pricing is more negotiable. Here's how you can find and use them:
- Where to Find Expired Listings: Use the MLS (with agent access), public records, or real estate websites like Redfin.
- Tools to Simplify the Process: Platforms like Stantem’s GraphQL API offer detailed property data, skip tracing for owner contact info, and bulk search/export options.
- Key Factors to Evaluate Listings: Look for long time on the market, price cuts, property condition, and local market trends.
- How to Approach Sellers: Be respectful, personalize your outreach, and highlight benefits like quick, hassle-free closings.
Expired listings are a valuable resource for wholesalers when combined with accurate data, quick evaluation, and targeted outreach.
What You Need to Know About Expired Listings
Defining Expired Listings
An expired listing refers to a property that didn’t sell during its agreed listing period on the Multiple Listing Service (MLS). Once the agreement ends, these listings automatically disappear from the MLS. This is different from withdrawn or canceled listings, which are actively removed by the seller or agent. Withdrawn or canceled properties remain in the MLS, but they’re no longer being marketed.
Why Expired Listings Work for Wholesalers
Expired listings offer a great opportunity for wholesalers. Why? Sellers are often more motivated after their property fails to sell, competition is lower, and pricing becomes more negotiable. A failed sale often points to pricing problems, which means sellers may be more open to discussions.
Here’s a quick look at listing statuses and their potential for wholesaling:
| Listing Status | Description | Wholesaling Potential |
|---|---|---|
| Expired | Property didn’t sell within the listing period | High – motivated seller, less competition |
| Active | Currently listed on the MLS | Low – high competition, market pricing |
| Withdrawn | Temporarily removed by the seller or agent | Medium – depends on the situation |
| Canceled | Permanently removed before expiration | Medium to High – seller may be motivated |
Using tools like Stantem's GraphQL API, wholesalers can easily identify and analyze expired listings. This tool provides property and owner details, making it easier to evaluate opportunities and contact sellers quickly. By focusing on expired listings and leveraging the right tools, wholesalers can find motivated sellers and approach them with confidence.
Keep in mind, sellers often get flooded with inquiries as soon as their listing expires. Acting fast and having efficient systems in place is key.
Next, we’ll dive into practical ways to locate expired listings, from MLS searches to using public records.
Ways to Find Expired Listings
Searching for Expired Listings on the MLS
The Multiple Listing Service (MLS) is one of the best tools for locating expired listings. To access it, you’ll need either a real estate license or a partnership with a licensed agent. The MLS offers detailed property information, such as pricing history, time on the market, and property details, making it a powerful resource.
Checking Public Records and Real Estate Websites
Public records and platforms like Redfin or Realtor.com can also help you find expired listings. Public records typically include ownership details and tax information, while real estate websites often display listing histories and market trends. Tools like Stantem's GraphQL API can make this process even easier by providing detailed property data and owner contact details.
Collaborating with Real Estate Agents
Teaming up with real estate agents can give you a head start on spotting expiring listings. Agents can identify sellers who might be ready to negotiate, share market insights, and expand your network. Building a strong relationship with agents - by staying in touch and offering something of value in return - can make this collaboration more effective.
After locating expired listings, your next move is to assess their potential and connect with property owners in a way that grabs their attention.
How Stantem Can Help with Expired Listings
Features of Stantem's Property Data Tools
Stantem offers a suite of tools designed to simplify the process of finding and analyzing expired listings. With its GraphQL API, users can perform precise, real-time searches, eliminating the need for time-consuming manual database checks.
The platform also includes skip tracing, which provides verified owner contact details, enabling quicker outreach. Its user-friendly interface allows you to filter, sort, save searches, export data in bulk, and even set alerts for new matches - all in one place.
Why Use Stantem for Expired Listings
Stantem stands out by prioritizing data accuracy, offering county-verified information you can rely on. This level of precision is essential when working with expired listings, where timing and correct details can make or break a deal.
The platform's pricing plans are designed to suit businesses of all sizes, helping you grow your operations without sacrificing efficiency:
| Plan | Monthly Cost | Property Exports/API Calls | Key Benefits |
|---|---|---|---|
| Standard | $120 | 30,000 | Unlimited property searches, Saved searches |
| Premium | $500 | 100,000 | Lower per-call cost, Enhanced features |
| Enterprise | Custom | Unlimited | Nationwide data access, Custom packages |
For wholesalers working in multiple markets, Stantem's nationwide property data access is a game-changer. You can uncover expired listing opportunities across regions without juggling multiple tools or subscriptions.
Automation is another major advantage. The GraphQL API streamlines data retrieval, cutting down on manual research time. When paired with the bulk export feature, it allows wholesalers to scale their operations while keeping data accurate and consistent throughout their workflow.
Stantem's tools make it easier to identify and manage expired listings effectively. Up next, we'll look at how you can use these listings to enhance your wholesaling strategy.
EXACTLY How To Find Expired Listings for FREE!
Using Expired Listings in Your Wholesaling Plan
Once you've pinpointed expired listings with potential, the next step is to assess their viability and connect with property owners.
Sorting and Evaluating Expired Listings
When analyzing expired listings, focus on these key factors:
| Factor | Key Indicators | Why It Matters |
|---|---|---|
| Time on Market | Listed for 6+ months | Longer listings often mean motivated sellers |
| Price History | Multiple price cuts | Suggests flexibility and motivation |
| Property Condition | Visible maintenance issues | Signals potential for value improvements |
| Location Metrics | Local sales trends | Helps gauge resale potential |
For example, a property originally listed at $300,000 that dropped to $250,000 after three price cuts is typically a better target than one that stayed at its initial price. These patterns can help you prioritize properties with higher chances of success.
Reaching Out to Property Owners
Once you've identified promising listings, it's time to connect with the owners. The way you approach them can make or break your chances, so a personalized and respectful strategy is crucial.
Here’s a simple framework for outreach:
- Start with a tailored message that acknowledges their past experience and demonstrates how your wholesale offer can address their situation.
- Keep communication consistent but courteous.
When discussing offers, highlight the benefits of a wholesale deal, such as quick and hassle-free closings - often within 7-14 days - compared to the uncertainty of relisting on the market.
Using tools like Stantem’s skip tracing service can help you find accurate contact details. Keep track of your interactions and follow up thoughtfully to build trust.
Key Takeaways About Expired Listings
Working with expired listings successfully means blending tried-and-true methods with modern tools. The real estate wholesaling industry has shifted, and using data-driven strategies is now a must for staying ahead.
To excel in wholesaling expired listings, focus on three core elements: accurate data, quick evaluation, and targeted outreach. Advanced tools can simplify property analysis, cutting down research time while improving precision.
A well-rounded strategy combines traditional resources like MLS access with advanced tools. This mix helps wholesalers:
- Quickly gather reliable property details
- Pinpoint motivated sellers with ease
- Understand market patterns more thoroughly
- Expand their operations more efficiently
Automation tools, in particular, save countless hours that would otherwise go into manual research. This extra time can be redirected to essential tasks like building relationships and negotiating deals - both of which are critical for success.
Ultimately, success comes from balancing classic real estate expertise with the benefits of modern technology. The right mix of timely insights and decisive action makes all the difference.
FAQs
How can I look up expired listings?
To locate expired listings, use a mix of resources and tools. Start by accessing the Multiple Listing Service (MLS) through a licensed agent, which allows you to filter for properties that have expired or are about to expire. Combine this with public records research and leverage connections within your professional network. For bulk research, tools like Stantem's API simplify the process by offering detailed property and owner information in one centralized platform.
How can I find an expired real estate listing?
The best way to access expired listing data is through the MLS, which you can access by collaborating with a licensed agent. For properties not listed in the MLS, rely on public records or specialized property data services. Tools like Stantem's property data platform are especially helpful when searching multiple markets, as they automate much of the research process.
How can I find the owners of expired listings?
Public records are a great starting point for identifying property owners. To take it a step further, use skip tracing services like Stantem's tools, which can help you quickly find up-to-date contact details. This approach makes it easier to connect with owners of expired listings.
"When working with expired listings, it's important to be respectful and professional. Start by introducing yourself and explaining your interest in the property. Be prepared to discuss the benefits of selling the property to you, and be transparent about your intentions." [1]
