Expired? Cancelled? Off Market? What's a Seller To Do?

By
Home Builder with Retired
https://activerain.com/droplet/bfw

Expired homeExpired? Cancelled? Off Market? What's a Seller To Do? You are not alone. Many homes in Seattle and elsewhere have languished on the market for months. In other words: Unsold. No action for weeks. You're the seller. The sign post in your yard has been leaning toward the street for so long you can tell it's trying to run away. What do you do? Blame your agent? Blame the market? Blame the banks and their lousy short sales and foreclosures? Let me help you here. There are only three reasons your home didn't sell. And you the seller are directly responsible for two of them and partially responsible for the third.

Here are the three reasons your house didn't sell:

  1. Preparation
  2. Price
  3. Marketing

PREPARATION: The advice on how to prepare a home for sale is unlimited and it's free. Most sellers know well in advance of their own moving plans and have ample time to prepare. Sometimes sellers may not have the money to do major repairs, but a clean and tidy home, inside and out, is the first step in assuring that your home will sell. All you have to do is look and/or ask a professional.

PRICE: You know how hard you shop for bargains. Home buyers are out there scouring the listings for that special value. If you've been expecting that rare buyer with more money than brains is going to show up and fall so soundly in love with your house that they will pay way over market, you need to think again. That happens when the market has been trending up for years and even homes that seem to be over-priced get more than one offer. Select an agent and go with him to look at the competition before you decide on a price.

MARKETING: Some properties slip through the cracks. Not many, but a few do. Often properties marketed by owners are finally listed by agents but already have long market times. This is a turn off to buyers. Everyone wants to get something that's new on market, or they want a deep discount. Marketing can't cure all ills, but if your agent doesn't have a strong Internet presence, doesn't use high quality photography, doesn't advertise your listing online with more than just the simple MLS broadcasting, doesn't have a social media plan to expose your property on Facebook, Twitter, LinkedIn, Craig's List, Active Rain, Realtor.com, Zillow.com, Trulia.com and others, you aren't getting full exposure. There is such a diverse array of Internet sites these days, all vying to be "the only one" that no buyer is able to check them all.

As a seller, it is up to you to properly prepare and price you home. Don't kid yourself into thinking that those things are not that important. And it is up to you to interview agents and find one that will thoroughly work all avenues of listing exposure to assure that the right buyer will see your home soon after it hits the market.

Homes are selling in Seattle and all over the country. But not all homes. Too many end up expired, cancelled, or just off market.

Posted by

 

 

 

 

Glenn Roberts
Retired

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Charita Cadenhead 05/24/2011 04:48 AM
  2. Jim Frimmer 05/24/2011 03:25 PM
Topic:
Home Selling
Location:
Washington King County Seattle
Tags:
expired listing
seattle residential real estate
unsold home

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Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Rich - Neither the seller nor the agent can change the location.

May 22, 2011 06:41 AM #11
Ambassador
941,892
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Glenn, smart post.  The preparation is key.  Let's get it ready to sell at the correct price point, and I will market it like mad.  Then, let's not dilly-dally with the offers.  Let the games begin, if you don't like the first offer, let's negotiate.  Sometimes, it will only go downhill from there.

May 22, 2011 10:37 AM #12
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Suzanne - That first offer may not look good on day one but let's work through it just to be sure. It is often the best one a seller will see.

David - It's all yours, Dave. Run with it.

May 22, 2011 11:16 AM #14
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

You hit the nail on the head Glenn.........great post.  I agree with David too, that's a wonderful line!

May 22, 2011 12:16 PM #15
Rainmaker
1,109,329
Paula McDonald
Magnolia Realty ~ Granbury - Granbury, TX
Magnolia Realty ~ Granbury, TX 936-203-0279

Good advice for Sellers.  They need to do their part and getting their property in tip-top condition is one of those.

May 22, 2011 12:34 PM #16
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Roger - It's a team sport. If everyone puts their best foot forward, success will be theirs.

Paula - Tip top is what buyers want these days, more than ever.

May 22, 2011 03:43 PM #17
Ambassador
2,629,508
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Glenn, We work Expireds in our area, and you've nailed the common sources of why a home didn't sell!

May 23, 2011 02:24 AM #18
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Bliz - I've not seen any homes in 26 years that were unsalable. Some may be land value only, but there is an app for that.

May 23, 2011 02:40 AM #19
Rainer
59,608
Mitch Gover
BidOnRealty.com - Orlando, FL

Oh so true Glenn.  I like your point that the Seller is responsible to a large degree on all three points.  Glad to have you back.  I hope you had a great vacation. 

May 23, 2011 05:46 AM #20
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Mitch - Everyone made a choice to hire the first agent and should be proactive in verifying information. Blue sky doesn't sell well in this market.

May 23, 2011 06:05 AM #21
Rainmaker
630,758
Nancy Conner
Olympia, WA
Olympia/Thurston County WA

Awesome post with excellent advice for sellers to read - and heed!  It's always interesting to me that when you look at the average list prices of the expired listings, they tend to run higher than either the active or sold comparable properties - hmmmm guess price does matter!!

May 23, 2011 09:19 AM #22
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Nancy - Price has to match the location and the condition, else everything fails.

May 23, 2011 09:23 AM #23
Rainmaker
1,267,293
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Wise words Glenn, we had to give it a suggest! Now, to get the people to listen and follow!

May 23, 2011 02:19 PM #24
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Al and Peggy - I think sellers are coming around. Some slower than others.

May 23, 2011 02:30 PM #25
Ambassador
758,687
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Glenn we speak the same language.  It's a combination of factors involved and you've targeted the top three and the importance of each.  Good deal Glenn.

May 24, 2011 04:46 AM #26
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Charita - Honest assessments are what sellers need to hear from agents.

May 24, 2011 05:06 AM #27
Rainmaker
1,115,804
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Too many time the sellers don’t want to hear anything that doesn’t meet their own ideas.

May 24, 2011 03:24 PM #28
Rainer
212,055
Tim Peterson
Wisconsin Realtor Safety and Concealed Carry Classes - Madison, WI
Realtor Safety Training Classes

Hi Glenn I agree- especially have the house professionally staged and keeping it ready to sell

May 24, 2011 10:18 PM #29
Ambassador
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. 4Terra Land Brokers .. 828-776-0779 Asheville NC
REAL ESTATE RESOURCES & NETWORK - Asheville, NC
What's Most Important to YOU? Call(828)-776-0779

Glenn~

 

I'm "suggesting" this post, and subscribing to your blog. Thanks for your positive contributions.

May 25, 2011 02:58 AM #30
Rainmaker
313,378
Glenn Roberts
Retired - Seattle, WA

Jim - Thank you for the reblog.

Tim - Often the sellers sense of what buyers want is way to limited.

janeAnne - Thank you. I've reciprocated, with pleasure.

May 25, 2011 03:08 AM #31
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