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Sellers With Expired Listings Should Not Give Up Hope

By
Real Estate Agent with eXp Realty

Sellers With Expired Listings Should Not Give Up Hope

Your house has been on the market for quite some time and I can certainly understand your frustration. But just because your house did not sell, does not mean that it won't sell.

I must mention upfront that I'm sure your real estate agent marketed your home to the best of their abilities so this is no disrespect to them.  However, it may be small things in the efforts of agents that make a big difference.  Here's some food for thought:

  1. Every agent has a sphere of influence which is basically people that we know, network and or socialize with.  Like everyone else, yourself included, we all have different spheres or connections.  When you change agents, you open up the scope and number of people that your home is exposed to. In essence you become a part of a new sphere and your own sphere is broadened.
  2. Creativity plays a major role in marketing.  Perhaps your listing just needs a new spin or twist on marketing it.  Some fresh ideas are in order.  Perhaps a new creative team is in order to freshen up and re-energize a stale listing.  A new excitement may be needed to rejuvenate interest in your home.
  3. There is no question that a new analysis is necessary to see if the home has been priced right and modified accordingly based on shifts in the market during the previous listing period.
  4. When armed with accurate comps of homes that have sold since your own has been listed, it should make you wonder why one house sold and yours didn't.
  5. Don't forget that selling a home is a process and requires, not only a plan but regular review and modification if necessary.

These are just a few things to consider when your listing has expired and other agents come a calling.  Consider being open for change.  It may be exactly what you and your home need to get it off the market as SOLD.

In addition to a new agent or agent team.  Consider what you can do to help things along. Check out the following for some suggestions:

Get Your House in Order

Did You Know That Selling Your Home Requires Your Participation?

 

Ron T. Weems Jr.
Weems Property Group | KW North Sound - Bothell, WA
Managing the details one home at a time.

Great points Charita.

May 05, 2010 04:07 AM
Susan Laxson CRS
Palm Properties - La Quinta, CA
California Real Estate Specialist

Excellent information for our sellers - thanks for sharing!

May 05, 2010 04:10 AM
Tim D. Wilson - The Horseman's Agent ™
HomeSalesLexington.com @ Rector-Hayden: Lexington, Kentucky - Lexington, KY

Hi Charita,

  Great points!  I just finished working on a new communication myself.

  Point #1 is very strong, and Point #2 is a little trickier, unless you know for certain how 'creative' and 'fresh' the previous marketing was- or was not.   Points #3-5 are bulletproof.

  A player can change teams from the Lakers to the Celtics and really flourish in Boston.  That doesn't mean Los Angeles isn't a good basketball team, it just means that the guy plays well wearing green.  If I am the Celtics, I do not make it anything about the Lakers.  And vice versa.

May 05, 2010 04:33 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Thanks Ron and Susan

Tim #2 is a bit tricky but you really won't know until you present your plan to the seller.  As always, you are on "POINT" team analogy.

May 05, 2010 05:46 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Good points, Charita.  I also think the way an agent feels about the property can come across in their presentation of it.  Someone who is excited about the property can somehome make it seem like a much brighter prospect.  It is, after all, a personal transaction for both sides.

May 05, 2010 04:13 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Jane you make a good point about the excitement during presentation.  That makes a strong case about being selective about the expired listings that an agent pursues.

May 12, 2010 05:14 AM