Expired Listing - The 4th Reason Why Your Home May Not Sell.
I wrote a blog(vido blog) a year ago or so on expired listings. I had mentioned that there were many reasons a house may not sell. The 3 main reasons I talked about why a house may not sell are:
1. The house may be overpriced.
2. The house did not get the right exposure and marketing.
3. The seller was not motivated enough to accept the price and terms and conditions when they do they an offer(usually during the early days of the listing)
So the market has changed drastically in the last 5 years or so. After talking to many buyers and sellers and agents about the offers, and canceled listings and the drama that goes while selling a home, the 4th Main reason a house may not sell is due to the Listing Agent!!
We all know that selling a house, which involves many people, affiliates, vendors, lenders, relatives and close friends and family of the buyers and sellers. It is obviously consuming and stressful to close an escrow or even to open an escrow.
Many times though it has been the fault of the Listing Agent that may have prevented the home from selling or closing the escrow.
Here are some reasons why the Listing Agent may actually cause a home not to sell, (intentional or not intentional)
1. Not returning phones, texts or emails promptly.
2. Letting their EGO getting in the way of the transaction.
3. Bring their personal life Drama into the transaction and affecting the outcome.(it happens!)
4. Being Unethical and unreasonable.
5. Trying to double their own listings, even if there is a better one in hand.( specially with short sales and bank owned listings)
6. Doing favors to their fellow office agents when an offer comes in and accepting it, even if the other one is a better offer.
7. Loosing a Sale by insisting buyers to use their preferred lender, even though the buyer is approved by a lender.
8. Taking overpriced listings, knowing that it will not sell at that price. (and use the listing for open houses etc to gain clients)
9. Not being flexible or reasonable with the selling agent to the point that it affects the sale or cancellation.( The outcome has to benefit all parties, not the just the listings agent or the seller.)
10. There are many more reasons that I can come up with... do you have any that you can share... please comment on this article so may know of more reasons...thanks!
Happy Home Selling!