Expired listings are those listings that have been with another agent, but for some reason they did not sell. Usually, this is related to the property being overpriced. Now there's no accounting for logic when the seller refuses to lower the price for his current agent, yet will turn around after it expires and re-list with a new agent at a lower price.

This is just the nature of the business; you do your best to get your sellers to price properly, always! However, taking overpriced listings just ends up costing you much time and money in the long run (plus your fellow agents don't much appreciate it).

The rule on working expired listing is very clear: You do not call or solicit your services until the listing is actually expired.

One technique you can use that is within the ethical confines of this courtesy to your fellow agents is this: aftern midnight on the night of expiration, you can drive to the house and leave a package on the front porch. An agent shared this with us and he had great success using it. Your package should contain a current CMA, your card or brochure, perhaps one of the flyers that explain what you do for your clients and a tip sheet an how to prepare and price a home properly.

When the seller wakes up in the morning, this package will be the first thing he sees, even before the telephone starts ringing with eager agents attempting to secure the listing. If this seller is stilll serious about selling, the idea that you drove over late at night and left this impressive package will certainly make an impact. Next, you will follow up with a phone call, but give it a few hours so that you don't blend in with all the other agents who start calling early. You have already set yourself apart....now run with it!

You may also send a letter.