I think Jackie has thoughts about Expireds but I will offer my two cents………..
Expired listings “could” be a source of motivated sellers. I think it will depend on some variables, such as time of the year (winter in my areas are slower/harder to sell houses in then summer), is the Expired listing also vacant, etc. Response from this type of list will also greatly depend on how or what you are using to try to get them to respond and contact you.
Alberties, here is an answer that Jackie Lange gave when I posted a similar question:
“First of all, it has been my experience that expired listings are rarely a good opportunity. They usually did not sell because it was priced wrong.
But there is another way to accomplish what you want to do without getting a list from a real estate agent. Go to Zillow and do a search for how many days the property has been on the market. If close to 180 days, the listing is about to expire so it is a good time to send out a postcard that says “are you frustrated with trying to sell your house, contact me for a FAST solution – learn how you can sell your house in 9 days” This works especially well if the house is vacant. Check out the photos of the house to see if it appears vacant.
Note on zillow, you can also search rentals by days on market. This could be an opportunity to get a master lease or even buy the house if it has been for sitting vacant for a long time. A vacant house owner is the most motivated seller of all.
But an expired listing is not necessarily motivated, they are usually stuck on a price that is too high. You could offer to pay their price if they they give you really great terms like no money down and low low payments. Then they at least have bragging rights that they got their price. The price is not as important as the terms.”
I’m not sure if I was doing this right, but I went to Zillow and I cannot see a “days in on the market” field anywhere. I saw “days on Zillow” but I would think that’s two different things. If someone can see “days on the market”, please share.