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Facts About Expired Listings

By
Real Estate Agent with Dave Edwards Realty

Who do you know that needs to buy or sell real estate? Call DAVE EDWARDS at 864.275.7250 or email at daveedwards@kw.com.

Nearly 15% to 25% of all listings do not sell.

The market rejects them.

In other words, the market did not accept the Marketing Effort, the Price, the Condition, the Location, or a combination of these areas-perhaps all four of them!

The good thing is that you control two of these areas: Price and Condition.  

Condition

A hundred dollar bill is a great metaphor: they all look good, but people will always choose the nice, clean, crisp one over a dirty wrinkled one. How does your house look to others?  This is the crucial important difference between Showing condition and Living condition.

Price

Being overpriced is usually the reason a home did not sell, but condition will help determine what the market is willing to pay. Remember that YOU control price and condition. The wrong price attracts the wrong buyers. It creates a bad reputation for the house in the market place and makes properly priced homes look even better.  Would anyone intentionally put their home on the market to help sell the competition?

Location

Nobody can do a thing about their location except to accent the positives and minimize the negatives.

Comments (2)

JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

Price is always an important factor in listing a house for sale. Usually after a listing expires though, owners are a little more receptive to advice.

Oct 24, 2008 08:05 AM
Anthon Pang
iPro Realty Ltd., Brokerage - Mississauga, ON
Broker

Thanks, Dave!  That's a great metaphor.

Oct 25, 2008 02:59 AM