Skip to content Updated February, 2026 – REDX Publishing Team
In our most recent analysis of over 2.7 million listings, we found that expired leads are generally the best lead for real estate agents to prospect. But the real question is why…?
Expired listing leads convert at 43% within 90 days and 60% within one year, making them 20-60 times more effective than most portal leads. If you’re tired of chasing cold leads that never convert, expired listings offer the highest probability of getting face-to-face with motivated sellers who are already qualified and ready to list.
The difference between agents who struggle and agents who thrive often comes down to one decision: working leads with proven intent versus chasing uncertain prospects.
While the average real estate agent loses 4-6 deals annually, agents who systematically work expired listings through platforms like REDX Expired Leads consistently take 3x more listings than their peers.
In this post, we’re going to break down expired listings and the most common questions around them: ‘What are expired leads?’, ‘Why are they so valuable?’ & ‘Why are they the best real estate lead for new agents to work?’
Quick Links:
- What Are Expired Listing Leads and Why Do They Matter?
- How Do Expired Listings Compare to Other Lead Types?
- Why Do Expired Listings Have Such High Conversion Rates?
- How Do I Get Started with Expired Listing Leads?
- What Results Can I Expect from Expired Listing Prospecting?
- Why Choose REDX for Expired Listing Leads?
What Are Expired Listing Leads and Why Do They Matter?
Expired listing leads are homeowners whose property didn’t sell during their listing agreement period – and REDX data shows 43% of them will relist within 90 days.
Unlike cold leads or sphere contacts who might list “someday,” expired listings represent sellers who have already committed to selling, invested in marketing, and experienced disappointment with their previous agent.
When a property expires on the Multiple Listing Service (MLS), it signals three critical facts about that homeowner:
- They recently wanted to sell their home (proven intent, not hypothetical interest)
- They’ve already worked with a real estate agent (they understand the value of professional representation)
- Something went wrong that prevented the sale (pricing issue, marketing failure, or agent incompetence)
This combination creates the perfect storm for a listing opportunity.
As Mike Ferry, President of MFO, explains in his testimonial:
“Prospecting REDX Expireds and FSBOs is predictable, duplicable, and very profitable. It is the best system available to generate new seller leads and managing lead follow-up.”
How Do Expired Listings Compare to Other Lead Types?
Expired listings deliver 20-40 times higher conversion rates than portal leads and 8-14 times better than sphere of influence contacts.
The math is simple: your sphere of influence converts to listings at roughly 3-5%, meaning only 3-5 people out of every 100 in your database will list their home this year—and there’s no guarantee they’ll list with you.
Here’s how different lead sources stack up for conversion and income per hour:
Conversion Rate Comparison:
- Expired Listings: 43% relist within 90 days, 65% within 2 years
- FSBO Leads: 38% will list their home with an agent
- Pre-Foreclosure Leads: 15% relist per year
- Portal Leads (Zillow, Realtor.com): 1-2% annual conversion rate
- Sphere of Influence: 3-5% annual conversion rate
Income Per Hour Analysis: According to independent audits of Redfin agent data, seller leads like expireds generate $1,456 per hour versus just $320 per hour for buyer leads. It takes approximately 4.6 buyer leads to match the value of one listing deal, with seller deals requiring only 7 working hours compared to 29 hours for buyer transactions.
Mark Martin from Austin, TX, who has used REDX since 2004, shares:
“I have earned more than $3.0 million in GCI, which is mostly attributable to the listings that I take every year from prospecting expireds. Typically, I list between 50-75 expireds a year, and REDX has been the most reliable and consistent source of accurate phone numbers and data for me to utilize when calling. What’s my ROI from REDX? HUGE!!!”
Why Do Expired Listings Have Such High Conversion Rates?
Expired listings convert at dramatically higher rates because the homeowner has already overcome the three biggest barriers to listing: commitment to sell, acceptance of commission costs, and willingness to work with an agent.
While cold leads require extensive nurturing to move from “maybe someday” to “ready to list,” expired homeowners have already made that mental leap.
The psychological profile of an expired listing seller is fundamentally different from other prospects:
Emotional State: Frustrated, disappointed, possibly angry with their previous agent—which makes them highly receptive to a new approach from a competent professional.
Financial Pressure: Many expired sellers have time-sensitive reasons for selling (job relocation, divorce, financial hardship, upsizing/downsizing needs) that didn’t disappear when the listing expired. The urgency remains.
Market Education: They’ve already lived through the listing process once, so they understand pricing, showings, negotiations, and closing procedures. You’re not starting from zero.
Meka Jones from Lithonia, GA, experienced this firsthand as a new agent:
“I purchased expired leads in October 2016 and after calling less than 30 expireds, I got an appointment to meet the homeowner. I was able to list the property, which resulted in the sale of her house and she also purchased another house as well which more than paid for the expired leads membership.”
How Do I Get Started with Expired Listing Leads?
The fastest path to expired listing success is subscribing to a data service like REDX that provides verified homeowner contact information daily, paired with a Power Dialer to maximize your connection rate. Most MLS systems don’t include phone numbers, making manual research time-consuming and inefficient.
Here’s why REDX agents consistently outperform competitors working the same expired listings:
- Data Accuracy: Industry-leading connection rates because REDX provides multiple verified phone numbers per homeowner, constantly updated from public records and proprietary databases.
- Speed to Market: Expired listings are delivered the moment they hit the MLS, giving you first-mover advantage before the homeowner is overwhelmed with agent calls.
- Integrated System: Vortex® combines lead management with multi-channel marketing, so you can call, text, and mail the same prospect seamlessly.
- Power Dialer Technology: The REDX Power Dialer triples your hourly contact rate compared to manual dialing, meaning more conversations with fewer hours invested.
David Ernst from New Orleans, who has used REDX for eight years, explains:
“I had a successful business in Memphis Tennessee, then I made a move to Louisiana into a brand new market and didn’t have any connections there, no business whatsoever. Based on using tools like REDX, they provided me with immediate access to income. I started from scratch, REDX provided me with the numbers to make the calls to get the appointments to get the house sold.”
The REDX system includes:
- Daily Expired Lead Delivery for your market with up-to-date property and homeowner data
- Multiple Phone Numbers per lead, skip-traced and validated for higher connection rates
- CRM Integration through Vortex to organize follow-up and track conversations
- Automated Postcards (88 cents each) for multi-touch marketing beyond phone prospecting
- Training Resources including scripts, objection handlers, and prospecting bootcamps
Rocky Wright from Palm Beach, Florida, shares the impact:
“REDX is the reason I am currently the #2 agent out of over 1000. I am selling more than teams of 5 plus people, without an assistant. Keep in mind I just moved back to this area October 2012. So being #2 is quite an accomplishment I am proud of.”
What Results Can I Expect from Expired Listing Prospecting?
Agents who consistently work expired listings through REDX take 3x more listings than the average real estate agent and close significantly more transactions annually. The key word is “consistently” – expired prospecting isn’t a one-time activity but a daily discipline that compounds over weeks and months.
Real-world results from REDX agents demonstrate the system’s effectiveness:
Maria Barr (Saratoga Springs, NY) shares:
“In the past 45 days I have listed 12 homes, five of which are sold or pending, all from five hours of prospecting each week. On average I take one or two listings a week from prospecting REDX, my goal is to close more than 50 transactions this year.”
Jeremy Back from Premier Coaching compared all major expired lead sources:
“I have tried all the expired lead sources (V7, LV, Arch) and compared them side-by-side for a year to see who REALLY had the best numbers. REDX Expireds won hands-down. If you want to talk to homeowners then get REDX!”
The pattern is clear: consistent daily prospecting with high-quality expired leads produces predictable, scalable results that transform real estate careers.
Why Choose REDX for Expired Listing Leads?
REDX delivers more validated phone numbers per expired listing, faster MLS updates, and a fully integrated prospecting system that lets you call, market, and manage leads in one platform.
While competitors may offer cheaper lead lists, the cost per actual conversation (not per lead) determines your ROI.
The REDX difference comes down to three core advantages:
Superior Data Quality: Multiple phone numbers per homeowner, continuously updated through skip-tracing and public records verification. As Jeremy Back confirmed after testing all competitors, REDX consistently delivers the highest connection rates.
Complete Prospecting Ecosystem: Unlike standalone lead lists, REDX provides the full system: expired leads, Power Dialer, Vortex CRM, automated postcards, and training resources all integrated seamlessly.
Proven Track Record: With thousands of agents getting literally millions of listings using REDX for more than 20 years, the system has been tested, refined, and validated across every market condition.
Ready to start taking more listings? Get started with REDX Expired Leads and join the thousands of agents who have made expired prospecting the foundation of their real estate business.
For agents seeking additional seller lead sources, explore FSBO leads (38% list with an agent) and GeoLeads™ for comprehensive circle prospecting strategies. Want to learn proven expired listing scripts and objection handlers? Check out our REDX University courses and join our monthly Prospecting Bootcamp for live training.
