A recent straw poll, conducted by Real Estate Business Online found that almost one in four real estate agents admitted to specifically targeting expired listings. Identifying expired listings can be done via RP Data’s rp.prospector which is a function located on your property system homepage.
Here you can locate Withdrawn Listings, Find Leads or search for Listings over 60 Days.
Withdrawn Listings: An RP Data “Withdrawn Listing” means a property that has been advertised for sale within the previous 365 days, but for which no listings advertising activity has been detected by RP data for 100 days and no property sale has been recorded in the 100 day period.
Find Leads: Generates a list of properties in a given a suburb most likely to list based on past sales data and as it relates to current on the market conditions.
Listings over 60 Days: Provides a list of properties that have been on the market for more than 60 days in the requested suburb.
To find leads, click on the “Find Leads” button upon which a ‘pop-up’ box will appear. Type in the “Suburb name”, “State” and “Postcode” from there you will be taken to an Alert screen. If you agree to follow the terms outlined click on ‘Agree’. You will then be taken to the search results.
Quite often, the reason the listing has expired in the first place is because the vendor and agent failed to list a realistic price. Here is where you can add value by providing Comparative Market Analysis reports and Suburb Statistics reports to show the vendor what is selling in the current market and for what price.
For information on how to use these functions call 1300 734 318 or visit www.rpdata.com/training for further support or training.