This was the wrap up of our month long series on aged expired listings. I wanted to pull the whole thing together in one place, because here's what I want you to walk away with: "It's simpler and easier than you think. It isn't magic. It doesn't require a fancy script."
It's really seven steps that we rinse and repeat. This month they filled my pipeline with a lot more potential business, some close to an agreement now and some that'll make more sense after the first of the year. Here's the whole process, start to finish.
Step 1: Pull aged expireds from your MLS
Most of you already pay for the MLS, and it holds some of the most powerful information in our business. These are people who at some point told the world they wanted to sell. They put a sign in the yard, signed an agreement, maybe filled out a disclosure. For whatever reason it didn't work out.
So I search for expired, cancelled and terminated listings that have been off the market for a while. Why wait? Almost everyone is coached to pounce on day one. A month or more out, it's quieted down, but in a lot of cases the seller still has the same problem.
Step 2: Scrub the data with AI
Export all of it. Not just the expireds and cancels, but the active, pending and sold too, for your target area: a city, a zip code, a school district or a rural county. Then pick the property type and a price range. There's no right or wrong answer. It's whatever fits the buyer you're reaching out for or the pipeline you want.
Why everything? "AI is really good at filtering data." Where it can slip is when you give it partial data and ask it to fill in the gaps. With the full picture, it can weed out the ones that relisted, sold, went pending or are coming soon, so you're left with the real candidates. You don't need that many to have the conversations you need.
Step 3: Ask one simple question
We're not trying to convince anyone to relist with us. We're not asking why it didn't sell or opening up old wounds. We ask: "Are you still accepting offers on the property?"
It's a yes or no question about their goal. And "I don't care what the answer is because a no isn't always the end of the conversation." Several times this month, a no turned into a bigger opportunity once I got curious and asked another question, because the owner had other properties they were thinking about selling.
Your buyer tackle box
If they ask whether you have a buyer, the honest answer has to be yes. We only use this approach when we've got a real buyer or offer. I think of it as three compartments:
- Pocket buyers: people in your phone, your CRM or your MLS contacts who are ready, willing and able to make an offer, including cash investors.
- Portfolio buyers: people who own at least five properties, bought at least one in the last three years and own at least one in the area you're working.
- Institutional buyers and offers.
"We're not going to bait and switch sellers." We start with what they wanted in the first place, someone to make an offer, and that makes them more open to what we might recommend they actually need.
The full script, voicemail and text
Here's the script: "I know this is probably a long shot, but is there any chance you're still accepting offers for 123 Main Street?"
If you get voicemail on a landline, add "please let me know either way" and let them know you'll send an email too. On a mobile, tell them you'll send a text as well. A strategic voicemail makes it a lot more likely they'll call back, reply to the text or answer the email. That's also why good data matters, so you've got the phone numbers and emails right there.
Step 4: Level up with AI agents
Once you've got the basics down, you can explore AI agents to make your time go further. Earlier this week we looked at how trained bots can handle tedious work so you can buy back time for higher dollar producing activities, or for family and the stuff you love. But we've got to walk before we run.
Step 5: Work hand raisers with a simple proposal
When someone raises their hand, start by getting them an offer, or multiple offers, but never more than three. Sometimes the seller decides that offer is the best option right now. More often, it becomes an anchor, and you pivot to a better option. For me, that's our 7-Day Stress-Free Home Sale approach, where the market shows what the property is really worth. Because a ready, willing and able buyer decides that, not an appraiser and not us as agents.
And when they object? That "objection is opportunity, not obstacle." It means they're serious about selling. When we bring a better solution to their problem, we're the ones who get the business, and they tend to trust us more because we're having a different conversation.
Step 6: Follow up on the not yets
You've heard it before, and it's true: "the fortune is in the follow-up." For the folks who are interested but not ready, I send direct mail once a month, set them up on an automated market report in my CRM and run a monthly action plan. That's the bare minimum.
Don't have all those tools? You can add them as a contact in your MLS and send a weekly or monthly update on new active, pending and sold homes near them. "Get resourceful regardless of what your current resources are."
Step 7: Bring in cash buyers when it fits
When a motivated seller has a property that needs a lot of work, or is dated and won't bring retail, that's a great reason to call the active cash buyers and investors in your market. I'd recommend every one of you keep some active cash buyers in your pocket buyer compartment. On Wednesday's stream I showed some free ways to find them.
Time block it: 10 leads, one hour
Here's what we recommend. Block an hour and work 10 leads. Call, leave a voicemail, text and email. Three days later, if they haven't replied, send a bump text and a nudge email. That follow up alone often brings in a lot more replies.
Get the verified offer first, then the appointment
Someone asked a great question at the end: do I see the property before submitting the cash offer? No. "We get the verified offer first and then we use that verified offer as the reason to get in."
Then I'll say something like, the best preliminary offer came back at this number, and to get you the very best offer possible, "I just need to pop by for a quick tour so I can get some photos and verify the condition. Would I be able to stop by this afternoon or would tomorrow morning work better?"
Most of you are pretty good once you're in front of someone. "We just need more reasons to get belly to belly." An appointment to go over an offer is a lot easier to get than a listing appointment.
Next month we're starting a new live series on tired landlords, Monday through Thursday at 10 AM ET. If you want help putting this month's process into practice, join our free Skool community, 1 Deal A Week In Real Estate.
Key takeaways
- Aged expireds are some of the best leads in real estate, and most agents stop calling them after the first few days.
- Export every status from your MLS and let AI scrub it down to the real candidates.
- Ask one yes or no question: are you still accepting offers?
- Only reach out when you have a real buyer or offer. Never bait and switch.
- Use the first offer as an anchor, follow up on the not yets and bring in cash buyers when it fits.
- Get the verified offer first, then use it as your reason to see the property.
Chapters
- 00:00 What a month of aged expireds taught me
- 01:38 Step 1: Pull aged expireds from your MLS
- 05:14 Step 2: Scrub the data with AI
- 09:00 Step 3: Ask "Are you still accepting offers?"
- 11:05 Your buyer pool: pocket, portfolio and institutional buyers
- 13:05 The full script, voicemail and text
- 14:30 Step 4: Level up with AI agents
- 15:19 Step 5: Work hand raisers with a simple proposal
- 18:51 Step 6: Follow up on the not yets
- 20:31 Step 7: Bring in cash buyers
- 26:15 Time blocking: work 10 leads in one hour
- 28:15 What's next: tired landlords in November
- 29:50 Live Q&A: get the verified offer first, then the appointment