Sellers: Why Do Agents Contact You When the Listing on Your Home Expires? It's not Because They Have a Buyer

By
Real Estate Agent with RE/MAX Trinity Brecksville Ohio

A short time ago I contacted a homeowner whose listing had expired. I, along with a few of my fellow realtors, received a rather nasty e-mail from him. In it he said. "Where with you with all your buyers while my home was listed? Now that it's expired you want to list it."

So I'd like to dispel the myth that your listing agent is the one who should be showing your home to potential buyers. Not true! (It does happen occasionally but it is not the listing agent's primary goal.)

The listing agent's job is to drive traffic to your listing, through their marketing activities, and create enough interest so that a buyer wants to come and take a look, and buy it!  After all, if they don't look they won't buy.

So what are some reasons homes don't sell?

Price. If a home is overpriced, no matter what the market conditions, it will not sell. Period.

Condition. Maybe the house has dated wallpaper or carpet, or perhaps a water stain on the ceiling that was repaired but never repainted. Perhaps the furnace, air conditioning, and roof are all older. Buyers take all these things into consideration when deciding whether or not to purchase.

Location. Maybe your home is in top condition but you live near a railroad, freeway or airport. Or maybe you have a steeply ravined lot which a family with young children would not consider.

In the end it still all comes down to price. If a buyer is not interested because of location or condition, that means that they are not willing to buy it AT THE CURRENT PRICE because of  those very conditions or that location.

Then what are some marketing efforts that are used to drive traffic to your listing?
*significant Internet exposure
*open house
*broker's open house
*getting feedback from showings (this one is critical to me)
*marketing reports at regular intervals
*updated market analysis at regular intervals
* lots of great pictures

If your agent is doing all that and more for you and you are not getting the desired results, it is most likely your price.Stick with your agent and lower your price.


And the next time an agent contacts you regarding your expired listing. ask them about their marketing plan to direct buyers to your home, entice them to look, and ultimately get your home sold!

You might be pleasantly surprised!

If you would like to buy or sell a home in Brecksville Ohio or in the surrounding communities, please call me at 440-263-7496, or you may want to visit my website for more specific information on the communities I service: Brecksville Ohio Real Estate, Broadview Heights Ohio Real Estate, North Royalton Ohio Real Estate Independence Ohio Real Estate, Seven Hills Ohio Real Estate, Parma Ohio Real EstateParma Heights Ohio Real Estate and Middleburg Heights Ohio Real Estate.  Information is obtained from Neohrex and is deemed reliable but not guaranteed.

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Rainmaker
346,323
Dawn Maloney
RE/MAX Trinity Northeast Ohio Real Estate Specialist - Hudson, OH
330-990-4236 Hudson & Northeastern Ohio

Barb, this is a very good post. Sellers ask this question all the time. My answer: "I'm obligated to work on selling the homes for the sellers that I represent, and finding homes for the buyers I represent. If I didn't have a buyer for your home, then I didn't show or sell your home. I didn't sell every single home in the MLS last month because I was working for the sellers who hired me! Additionally, if you hire me, I will work for you diligently, but I probably won't be the one who brings the buyer."

May 07, 2009 03:53 PM #1
Rainmaker
553,708
Barb Szabo, CRS
RE/MAX Trinity Brecksville Ohio - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

Dawn, That's it exactly. BTW, I was in Hudson yesterday for my daughter's ortho appt. and it's looking prettier than ever.

May 07, 2009 10:36 PM #2
Ambassador
2,135,846
Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

I find most of the time a home doesn't sell in the listing period and isn't relisted with that agent it is because the lack of communication with the agent and the seller. They are just looking for something or someone different that what they already have. But, you are correct and if you like your agent and they are doing everything to get it sold, then you do need to lower the price, because it does come down to that!

 

May 15, 2009 07:31 PM #3
Rainmaker
553,708
Barb Szabo, CRS
RE/MAX Trinity Brecksville Ohio - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

You're right  Todd, communication is key and to that end it's important for a seller to understand the listing agent's role.

May 15, 2009 11:54 PM #4
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Rainmaker
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Barb Szabo, CRS

E-pro Realtor, Cleveland Ohio Homes
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