Resign -or- Re-sign? That is the question.
Prior to a listing expiring, sellers will have a clear view on how they wish to proceed with the sale of their home. They may opt to extend the listing with the same agent, shop around for another agent or take the home off the market.
Some factors a home sits long on the market:
- It is overpriced. Even after reducing the price several months after, the window to sell has passed.
- Inundation of properties hitting the market. More homes means less showings, creating a buyer's market.
- Suggested repairs at the start that were not done and clearly are a deficit when shown.
Before continuing to spend time, money and resources on a listing that is close to the contract end, make sure the owner is on board to re-sign paperwork and get it in writing. Do not depend on a verbal response. Otherwise, the intention may be to resign you and re-sign with someone else.
It happens and you know what they say, don't make assumptions!