I will get to the 38% parts in a few minutes.
This is one area of real estate listings that often gets overlooked, and you are the one that needs to know what’s next, not the agent.
Did you have your home for sale and the listing expired?
Probably the next day you got bombarded with phone calls from agents that want to relist your home. Then comes the post cards showing homes sold in your area to further the aggravation.
You see, many but not all agents just want to get the listing. They haven’t thought about your emotional state of the listing that expired.
Hint: Most of them don’t care about your situation. They care about theirs!
This is usually the way expired listings work.
Let’s approach why this happens and see if we can turn this around for you.
You are not the only one this happens to, I know, I have been there myself.
First, let’s talk about the emotional side of an expired listing. Selling your home can be a deeply personal experience. When the listing expires it can feel like a punch in the gut.
So, then you get feelings of frustration, (mostly toward the agent) disappointment or confusion. Maybe all three.
Frustration, because you have put time, energy, possibly money into your home for sale. Disappointment because you held high hope for something that didn’t materialize.
And confusion because you might be left wondering what went wrong.
There is always a reason for a home not selling.
Was it marketing?
It doesn’t mean that your home is unsellable, it’s just that something was wrong with the process that needs to be adjusted.
There seems to be some common reasons why a home doesn’t sell.
How can we do something about that?
Usually, the first thing is pricing. You might not like it, but from someone that knows firsthand that putting a higher price and it doesn’t work, we have to face the reality of no sales.
Tip: Being stubborn may make you feel right, but it could also cost you.
The market itself sets the price of your home. I the price was too high or a lower than list offer was made and turned down, possible buyers may overlook your home and never take a second look.
And is the market in your neighborhood increasing or declining?
If homes in your neighborhood sell for less, you won’t get many looks. Especially in a declining market. Find out!
On price, was it you or the listing agent?
Number two: Presentation. Was your home clean and presented well? This could also be from the listing pictures that were taken. If a room is cluttered or the pictures are blurry or dark, many buyers keep moving
Number 3. Marketing.
This includes signage, and just placing your home on the MLS, well, that doesn’t cut it anymore. Strategic marketing, when done well, is what today’s world is looking for.
Social media, Email campaigns, and a very well-done video tour of your home are commonly used today.
It gets exposure.
If any of these three things are overlooked, it’s not surprising that your home didn’t sell. The good news is that every one of these factors is well within your control.
When someone calls me to discuss selling their home, one of the first few questions we ask is “is your home listed or recently been listed?”
Then we get ready to listen. Usually, one of the three things has happened if they say yes.
If you were selling your home that is your residence, I’m sure you were planning on moving when it sold. That also can lead to unexpected circumstances too.
Vacant land listings also expire, and usually the sellers of vacant property are not moving.
What we need to find out first is what the problem is, and how we can fix that.
If you are feeling overwhelmed, we might be able to help you solve this.
Let’s discuss relaunching your strategy, or we can also make an offer that is realistic, without you having to relist.
If you want to relist, we can approach that too.
Reach out today, get on with life.
Now the 38% title. It has been tracked for a long time, but if you choose another agent to relist your home, 38% of the time the new approach that is realistic, and does get your home sold quickly. Also, in less time too.