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Expired Listings: Just Because Your House Didn't Sell Doesn't Mean It Won't Sell

By
Real Estate Agent with eXp Realty

 Expired Listings:  Just Because Your House Didn't Sell Doesn't Mean It Won't Sell

If you had your home on the market and it didn't sell, I'm guessing that you still want to sell.  Trust me, I can imagine your frustration and disappointment, but hope and help is still on the horizon.  Just because your house did not sell, does not mean that it won't sell.

More often than not when a homes stays on the market for quite some time, the main thing that needs to happen is that the marketing efforts need a jolt from a fresh set of eyes.  In other words, your previous agent, I am sure did the very best that they could, but after a time, they may have exhaust their creative efforts.  You know how it is when you look at something for too long, you may miss the obvious. 

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 suggestions below and if you are in need of a good real estate agent in the Birmingham area, I am available to work with you as a member of your "home" team.  Just give me a call at 205-321-1200 or contact me via email.  By the way, here's my resume.

 

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Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

I like the way you presented this Charita.  Very good information.  You have a great way of presenting your information in a clear and concise way.

Jan 04, 2011 01:49 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Barbara by far, I think that pricing is the biggest culprit.

Bliz even if price is the biggest culprit, it's not always the only culprit.  Many variables sometimes apply.

Thanks Sylvie.  I'm just getting back into working expireds so I'll be posting a lot to that affect.

Thanks Paula some days I think more clearly than others:-).

Jan 04, 2011 02:17 AM
Ellie Penaranda
239.776.5077 Downing-Frye Realty - Naples, FL
Naples Florida Real Estate - Waterfront & Beach Co

Good morning Charita - you are right about having a plan and modifying as needed.  We regroup with our sellers regularly to make sure we are ahead of the competition.  Price, the condition of the property, the exposure through marketing, having the home constantly available for showings are factors to consider.

Jan 04, 2011 02:18 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Ellie I can hardly count the times when there was some reality that an owner decided not to deal with.  It would have been a cosmetic change such as painting the interior color a neutral color to give the place a facelift.  Or how about carpet that has not been replaced in 20 years.  It could be any number of things.

Jan 04, 2011 02:29 AM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Great job with this one Charita. just because a home has "expired" doesn't mean it won't sell. It just might need some of the changes you mention here.

Jan 04, 2011 02:49 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Sometimes agents just don't know how to have "that talk" with the clients.  Appearance, especially first, can make a world of difference.  Perhaps the expired listing didn't have an agent who made suggestions, and WORKED at selling.  I've sold homes that have had been expired.  The other agent worked it . . .

Jan 04, 2011 06:50 AM
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Excellent advice for those whose homes have not sold but who still want to sell.  You're right, unless they realized that it was price & they needed a certain price in order to move up, generally they will still want to sell.  A fresh approach & fresh set of ideas is always helpful.

Jan 04, 2011 06:53 AM
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

Nice positive description of what sellers need to consider when their home does not sell.   There are a lot of reasons and a new agent can be just what the doctor ordered!

Jan 04, 2011 07:00 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Even a bumbling real estate agent can sell an appropriately priced home in this market with a minimal amount of skill by using the Internet!

Jan 04, 2011 07:02 AM
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

Charita, I am from the school of there are two reasons that a house does or does not sell. Marketing and price, if you are getting people in the door and no offers, too high. If the price is within the CMA range and nobody is looking, bad marketing. I guess that is a simplisitic look at it, but it really does come down to those two things.

Jan 04, 2011 07:16 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Craig without looking over my MLS right this second, I believe that I read somewhere that homes have a greater chance of selling the second time around (after changing agents).

Carla I guess it's just a mixed bag.  We just have to go in and do what we do.  Sometimes there are obvious reasons other times we have to dig them out.

Christine getting to them the second time around is the key (after the initial disappointment of not selling).  That's why the first attempt to get the appointment is so important because you may not get a second chance.

Exactly Kathryn and let me say that it is not always something that the other agent did wrong, but you never know unless you seller interviews other agents.  Oftentimes that's when it become clear.

Gary I'd have to toss luck into that mix.

Gerry those are the 2 places to start.  Other times you have to dig deep.

 

 

Jan 04, 2011 08:00 AM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Every listing agent has something different to add to a listing. Change is good. Great post.

Jan 04, 2011 09:03 AM
Donna Paul
Keller Williams Realty Gold Coast - Dix Hills, NY
Long Island Home Specialist,All About Real Estate

Charita:Great thought for the homeowner to considering  when putting their home on the market again. Although, the home didn't sell the first time doesn't mean it will never sell.. We specialize in HOMES that didn't sell the FIRST time....

Jan 04, 2011 02:15 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Ellie in a business like ours, change is often a good thing.

Donna I like that:  "We specialize in HOMES that didn't sell the FIRST time...."

Jan 04, 2011 02:49 PM
Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

Charita--It is obvious you gave this topic some thought before writing the post!  In all the posts I have read here on the Rain, I have never read one touching on this exact topic.  I think this one should be featured!  I don't know if you recently changed the look of your blog, but I love the pink!!

Jan 04, 2011 02:58 PM
Anonymous
Anonymous
Hi Pat. Thank you. I think this is a topic that deserves a lOt of attention because listings, I believe, have a greater chance of success the second time around. As for the pink, these have been my colors since Mailprint.com designed my logo a little over two years ago, but thanks for mentioning it.
Jan 04, 2011 03:08 PM
#19
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

I just wanted to pop in and say hello :)   Wonderful post Charita, and you make your points directly and succinctly. 

Jan 04, 2011 11:47 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Hi Pat. Thank you. I think this is a topic that deserves a lOt of attention because listings, I believe, have a greater chance of success the second time around. As for the pink, these have been my colors since Mailprint.com designed my logo a little over two years ago, but thanks for mentioning it.

Thanks Kris.  I am glad that I emailed you.  I hope that this means we'll be seeing more of you.

Jan 05, 2011 12:02 AM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Charita,

This is so true, and I have been thinking of a way to get this very thought across to all of my potential listings who have expired.

P.S. Your little man is adorable!

Jan 05, 2011 04:00 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Hi William. The way to get it across is simply to say it.  I know it sounds simplistic, but it works just as well as any other logic.  Thanks.  That's my little sweetie.

Jan 05, 2011 04:18 PM