Why did my listing expire is a question many sellers ask themselves. Listings expire mainly for three reasons: price, condition or marketing.
Price is extremely important, especially in a buyers market. With an abundance of inventory, building in "negotiating room" is only going to help your competition sell their homes. Do you want your listing to become a "pinball listing" in which the buyers bounce off of your home and sign a contract on a properly priced home? No matter how savvy your Realtor is, there is no amount of marketing that is going to sell an overpriced listing.
Buyers become experts after looking at 15-20 homes in a certain price range and can tell instantly if a house is over-priced and will be discouraged. One of the first questions I get when working with buyers is, "Mark how long has it been on the market?" The longer a home has been on the market the better deal a buyer expects because they assume something is wrong with the home since it has not sold.
Another reason why did my listing exipire is because of the condition of the property. Condition and price go hand in hand with each other. Many buyers are willing to pay top dollar for a quality home that shows like a model, but neglected homes that need repair and updating will remain unsold. Other buyers looking for the "deal" will take the risk of buying foreclosures at a discount even though the home may be need some work. Which type of buyer are you trying to attract to your property?
The last common reason that can prevent a sale is the selection of your Real Estate Agent. Did you select your agent based on the best marketing plan or the agent who promised to list it at the highest listing price?
Unfortunately, there are some agents who will try to "buy a listing"; this is when an agent will tell you an inflated listing price to get your listing. There will be no market data supporting this price, but it usually excites the sellers and they will agree to list. Then after a month or so the agent will start asking for price reductions when there is no activity on the home while wasting the best opportunity for showings when the listing is new.
With 90% of buyers looking online how is your Realtor marketing your home? Are they just putting it in the MLS and hoping it will sell? Are they going to syndicate your listing to nationally recognized sites to get you the exposure you need? Do their photos look professional? Are they producing virtual tours, video's and blogging about your listing? Are they getting you feedback about your showings and how are they doing that?
With 90% of buyers looking online it is very important here in Atlanta to make sure your listing agent is a member of both FMLS and GAMLS so buyers cannot miss your listing. Placing your listing on nationally recognized sites such as Realtor.com, Google Base, Trulia, Zillow, Yahoo Real Estate just to name a few that will enhance your exposure even more. If your photos do not look professional, then select another agent now because poor photos equal poor showings. Multiple quality photos and staging of the home will attract buyers to want to see your property. Adding virtual tours, videos and blogging creates a well-rounded marketing package that is sure to get you more showings. One of the most important pieces of information a seller can get is feedback from the buyers and agents that showed your home. This feedback will help the seller and his agent make necessary changes and improve your success in selling your home.
The majority of sellers who I talk to who did not sell are frustrated and disappointed because of the lack of feedback they received from their agent. These homeowners are unsure why their home did not sell and just want an agent that understands their concerns and care that their goals are achieved.
Many sellers have been down this road and the solution is to find an agent who is serious about helping you achieve your goals, not theirs. I only tell homeowners what I feel will get the home sold and sometimes it is not what a seller wants to hear. I don't offer gimmicks or leg stretching promises, just straight forward advice. Only after you have good solid information based on facts can you make informed decisions.
With the right agent and great teamwork you will not be asking the question "why did my listing expire".
Homes that are being sold for top dollar are the ones that are priced correctly, show like a model home (great pictures taken) and have great exposure.
If you have any questions about selling your home in Johns Creek or in the Northeast Atlanta area give Mark a call at 404-353-0185.
Mark services the following Northeast Atlanta cities: Johns Creek, Alpharetta, Roswell, Milton, Woodstock, Dunwoody, Suwanee, Buford, Duluth, Dacula, and Lawrenceville Georgia.
About the Author: The above Real Estate information on Why Did My Listing Expire - Expired Listings in Johns Creek GA was provided by Mark Mitchell. Mark can be reached via e-correspondence at email@example.com or by phone at 404-353-0185. Also visit www.johnscreek-homes.net
Copyright © By Mark Mitchell 2010 *Why Did My Listing Expire - Expired Listings in Johns Creek GA*