What are expired listings in real estate?

Expired listings are properties that were listed for sale on the MLS (Multiple Listing Service) but didn't sell before the listing agreement ended. When a listing expires, the homeowner is no longer contractually bound to their previous real estate agent.

This creates a unique opportunity for agents because:

• Motivated sellers: These homeowners already demonstrated they want to sell
• No agent commitment: They're free to work with a new agent
• Time-sensitive: Many still need to sell and are open to new approaches
• Less competition: Most agents don't systematically target expired listings

Expired listings are different from withdrawn listings (where the seller chose to remove the property) or canceled listings (where the contract was terminated early).