Hello Everyone,

 The Spokane Real Estate Market isn't just about how many homes are for sale and how many are sold. There is a third number that teaches us a lot about what is happening right now int he market both locally here in Spokane Washington and all of the US. That is the number of expireds.

When homes don't sell the contract expires and this home owner has one of three choices. They can take the home off the market, try and sell the home themselves, or find another Realtor to sell it with.

Let me say that taking the home off the market is bad in this market. The reason is that we have high inventory. This means you will take it off the market when the inventory is going down and put it on in the spring when inventory and competition goes up.

Second is try it For sale by owner. The problem is, if being in the MLS and having a Realtor didn't get sold then doing less For sale by owner is a step backwards. Yes you can lower the price, but you are also lowering the advertising.

Third is hire another Realtor. This is the best thing to do. But this time make a better choice. The key is hire the agent with the best marketing plan and best internet coverage. In the slower months people are not going to drive around looking they are going to go the the internet. In a competitive market the agent with the best marketing is the one who will have the best chance at getting your home sold.

A large amount of expireds teach us one thing, that people aren't educated about how to pick the best agent. Read some of our other articles on tips for hiring a agent and get educated so that your next choice is the right one.