Selling an Expired Listing

Your goal is to sell your house. If you already listed it and the listing expired don't become discouraged. You likely have a great house to sell and the market may be strong enough to get it sold. Consider and review a few things before you put the house back on the market. It is likely the right change in your selling methods will get the job done.

Q. Where should you begin?
A. Make a commitment to do what it takes to market your house to get it sold. The right marketing system will get your home sold.

Q. What kept your home from selling?
A. If your home expired it is likely that one of the following occurred:

1. Teamwork
   Communication is critical. Does your agent understand your needs? Does your agent provide feedback regarding the visits of potential buyers and agents? You and your agent should work as a team. If you haven't gotten the right communication consider seeking out an agent you feel understands your needs and provides insightful communication.

2. Pricing
   Did the price you placed on the home attract the right buyers? Be sure you set the price according to market conditions, competition and the condition of your home. Pricing too high will exclude buyers seeking a home priced in a realistic price range. Pricing too low will leave money on the table. If your home isn't competitive with others in the price range and area, you won't suit purchasing parties or their agents.
   
   Review the price based on the right evidence

   • Request from your agent a current competitive market analysis

   • Review comparable homes recently sold and currently for sale

   • Determine how long other homes have been listed, in order to calculate an average time in which a home will likely sell in your market

   • Review other homes whose listings have expired, to understand what issues were at play.

   Note: The market value of your home is determined by what a qualified buyer will pay and a willing seller will accept not by what you owe on your loan nor by the enhancements you have made.

3. Condition of Your Home
   Put on a display of quality. Is a buyer able to visualize the house as his/her home? Would it be a nightmare to move into? Do they think "Wow! When can I move in?" Remember, the decision to buy a home is based on emotion, not logic. Be sure your home presents well.

4. Exposure
   If your home looks great, the market is strong and you are sure it is priced right and it still didn't sell it is very likely that not enough people knew it was on the market. Make sure your agent represents you. Determine what methods they are using to market your property. Are they an internet presence? If your agent is only using a yard sign, a few flyers, and older ineffective methods they are not going to get the job done for you. You may need to fire them and seek out an agent with a great marketing plan. To compete in today's marketplace, agents who use new and innovative, non-traditional marketing approaches get your home in front of the most people so it sells quickly and for the best possible price.

home buyers are shopping for your house right now. Be sure your agent is working with you. Be sure your home is priced accurately. Be sure your home is presentable. Be sure your agent is gaining maximum exposure for your home.

NOTE: Information on this site is not guaranteed to be accurate. Some content is compiled from 3rd party sources. If you are aware of incorrect or outdated information, feel free to contact us.