Expired listings

An expired listing, simply put, is a home that did not sell during the term of the listing contract.

In the current real estate market, many homes are ending up as expired listings. The home may have been on the market 30-60-90 days or longer with no offers or no offers that were acceptable to the seller. What causes a home to remain unsold? Is it the Realtors fault, the homeowners, a combination of both or something else? Let’s take a look at a few scenarios to help determine what went wrong.

• Who priced the home? When you contact a real estate professional to list your home for sale, you are counting on this agent to provide the best possible marketing plan, you expect that they are knowledgeable about all the contracts involved in the transaction, their ethics and professionalism should not be in doubt AND you should be counting on them to provide you with factual data concerning market conditions that directly relate to your home and it’s value.
• Who made the final decision? If you received this information and chose to ignore it, pricing your home substantially higher than the agents suggested list price, you made an error that will cost you valuable market time with no results. If your agent agreed to take the listing with no built-in price reduction or suggestions to improve the home up to the higher value standard, then they made an error as well.

Before re-listing your home, take another look at what has been transpiring in and around your market area during your initial listing period. 

• Did similar homes of the same size and location sell? 
• What were the differences in price, size and condition of those homes compared to yours? 
• How were the homes staged?
• Did the seller offer the buyer concessions including offering to pay the buyer's closing cost that may have played an important part in making the deal? 
• How many days were the homes on the market before they sold? 
• Did any homes sell in your area? 
• Why not?

These are all questions that one of our professional agents can assist you with answering. To obtain more information, give us a call. 407-304-0255.

Letter to expired listings

Are you still interested in selling your home? Would you like to meet to discuss your previous attempts and work together to determine what we need to do that will result in a sale at the best price possible that meets your time frame? Give me a call. 407-304-0255