Why Does a Real Estate Agent Take a Listing and Forgot About It?

This is something that I have never understood and over the past 27 years nothing has really changed.  When I dialed an expired listing yesterday the owner told me she thought the property was still on the market.  Actually it expired November 30 and no one had called to renew the listing from the agent's office.  The woman was elderly and did not have much computer experience so she wasn't able to check her home on the MLS. Looks like the agent forgot to keep in touch as well.  This home is probably headed for court house steps and she has owned the home since 1955!  What would possess a duly bonafide licensed agent from ignoring their client's best interest?  What happened to that word "fiduciary" when a listing agreement is signed?

Ok so you may have problems getting a contract from qualified buyer for the property and if you are constantly speaking or emailing the seller they understand that it is not easy today.  However way too frequently the agent leaves seller stranded with expired listing and breaches "fiduciary" responsiblity.  That which is held in trust is breeched.  Having owned a brokage company for ten years I saw this quite often.  If you have a listing that you can't sell and close, please inform the owner via USmail, fax, email or phone call not a voice mail or text!  Let the owner then decide how to end the listing agreement.  You may be surprised and they opt to renew at lower price or offer owner financing or lease purchase or they say short sale option! It certainly makes you look more honorable.

It is very difficult right now to sell vacant land here in Georgia unless it is giveaway price.  I do know that a client of mine is satisfied that I call and email her 2x weekly telling her update news or anyone I prospected on her behalf.  It isn't sold yet or doesn't even have a contract but I haven't forgotten her.  Do I normally call seller twice a week? No, I don't but when going gets tough the tough get going. Meet if possible face to face and tell them very nicely that you will do whatever it takes to close this house.  Bet you'll even get referral letter from them at the end thanking you for your guidance.