Why does a Short Sale listing ever expire?

By
Real Estate Agent with Keller Williams Realty

Why does a Short Sale listing ever expire? This should be a rarity yet I'm amazed at the number of expired listings that I run across that are Short Sales.

When listing and selling Short Sales you must have a strategy. That strategy must include how the price is handled. You can not simply list the home for sale without ever looking at the price again. Short Sales are different from Traditional Short Sales and it's critical to be aware of this. When you're listing a Traditional Short Sale you can come across more apprehension from the Seller when setting a price as they do not necessarily have to sell.  However a typical Short Sale Seller has to sell because they're trying to avoid disaster; foreclosure.

It's pretty safe to conclude that when a home doesn't sell it's primarily due to the price being set for the home; typically not always, but usually.  With this in mind, and you're trying to avoid foreclosure and you don't have an offer on a Short Sale, you need to have a pricing strategy. Too many Agents will list a Short Sale home and not reduce...not a good way to represent a distressed Seller.

The Seller's Lender will want to see that you tried to get the most for the home, of course. However, when you list a home initially at one price and it doesn't sell you need to re-evaluate the price and adjust. If it's priced right, you'll eventually get an offer. The price adjustments and their frequency will be dependent on quite a few factors; is the property not yet in pre foreclosure, is the property in foreclosure or is a judgment date set? These factors alone can determine ones strategy. But if you're listing Short Sales you must have a strategy as distressed homeowners are counting on their Agents to help them. I make sure that I do just that to get the home sold and avoid foreclosure

 I've been extremely fortunate in helping distressed homeowners with their Coral Springs Florida Short Sales and surrounding cities of South Florida Short Sales; having received great satisfaction in helping others and I wouldn't change what I do and how I do it for nothing. I feel that it's important to do things right or don't do them at all. It's just hard for me to understand why someone can take on a task and do half a job - it's not right.

So don't let your Short Sale listing expire - have somebody get it right!

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Whether you're Selling your home in Coral Springs or Buying your home in Coral Springs or other Southeast Florida cities from Boca Raton south to Miramar, I promise to be on your side working hard for you as your Coral Springs Realtor and South Florida Realor. Helping homeowners with Coral Springs Real Estate and the Real Estate in surrounding cities such as Coral Springs, Coconut Creek, Parkland, Plantation, Pembroke Pines, Margate, Miramar, Tamarac and Sunrise in Broward county to the cities of Boca Raton, Delray Beach and Boynton Beach in Palm Beach county. 

 As your dedicated Coral Springs Realtor, Short Sale Specialist, Keller Williams South Florida Real Estate Agent, Coral Springs Short Sale Realtor, South Florida Short Sale Realtor and CDPE Certified Distressed Property Expert, I'm ready to work hard for you.

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I'm looking forward to hearing from you soon. Please call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse and it would be my pleasure to help you!

Learn more about me and Coral Springs Real Estate as your Coral Springs Realtor and Coral Springs Short Sale Realtor 

 

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Topic:
Home Selling
Location:
Florida Broward County Coral Springs
Groups:
Keller Williams 'Rainers
ETHICS and the REALTOR
Short Sales and Forclosures ONLY
Short Sales Specialists
Certified Distressed Property Expert
Tags:
coral springs short sale realtor
sell home as short sales in coral springs
coral springs short sale specialist
short sale in south fl

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Ambassador
1,547,837
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Oh mine do when I'm not looking....I have to have a start date and end date and I forget sometimes.

Jan 06, 2011 01:13 PM #1
Rainer
143,951
Indera Coggins
Re/Max 100 - Dunkirk, MD

Lynn, great post

Jan 06, 2011 01:21 PM #2
Rainer
143,951
Indera Coggins
Re/Max 100 - Dunkirk, MD

Lynn, when I took the CDPE class, one thing I walked away with, get the listing for at least 7 months and always expire it on the 30 dayof the month.

I find it to be very helpful because when I pull up my listings all show up and I see which ones will expire soon.

 

Jan 06, 2011 01:24 PM #3
Rainmaker
2,481,575
Richard Weeks
Dallas, TX
REALTOR®, Broker

I would say the agent gets tired of the listing, or the seller gets tired of the agent.

Jan 07, 2011 01:37 AM #4
Rainmaker
360,422
Lynn Pineda
Keller Williams Realty - Coral Springs, FL
Coral Springs REALTOR- Promises Delivered

Hi Karen, you must really carry a lot of listings,hey.

Hi Indera, thank you.  Yes, that can be a good idea what CDPE recommends as an easy reminder.

Hi Richards, sure, that could be a good reason for a listing to expire and definately not a win-win.

Jan 07, 2011 10:47 AM #5
Rainmaker
467,805
Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

7 months should be the minimum. I like to take them for a year, although things are going much faster now.

Jan 07, 2011 03:44 PM #6
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Rainmaker
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Lynn Pineda

Coral Springs REALTOR- Promises Delivered
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