Sellers: Are you planning to SELL? Or EXPIRE?

By
Real Estate Agent with Cedar Rapids/Iowa City, IA KW Legacy Group S44645
https://activerain.com/droplet/4Tdl

Sellers:  Are you planning to SELL?  Or EXPIRE? 

 

Every day, I spend some time looking at the "hot sheets" on the MLS.  They will show me at a glance the properties that have:

 

An accepted contract

Have closed/sold

Have canceled their listing with the current agent

Have withdrawn their listing from the market

Or have expired.

 

And most of the time, especially on the expired listings, I can see the reason why they failed at selling the first go around.

red kitchen

 

Sometimes, it is the agent that you chose.  Whether it be lack of accurate information or remarks with typos, poorly lit photos or lack of photos, or an unrealistic price.

 

Sometimes, it is the seller.  Choosing a price above the market, clutter everywhere (which caused the agent to upload less photos), pet smells, overall condition of the property, or restrictions on when showings are available for buyers.

 

Sometimes, these sellers move on to another agent and company and sell quickly.  Usually it is not just luck.  Rarely do I see a home come back on the market at the same price and with the same condition and it sells immediately.  Usually it sells quickly because the seller was ready to listen.  

 

They painted that red kitchen, or that pink master bedroom.  They decluttered and put away their collections and toys that the kids weren't playing with.

They spruced up the curb appeal and added new landscaping.  They had professional photos.  

 

AND most importantly, they positioned the home at the price of the market.  In order to get the highest price, the house needed to show that it was worthy to the available pool of buyers.  Or if the sellers didn't want to change anything, they needed to price the home for the condition.

 

Expired listings have a better chance of selling the second time around.  Especially with the right guidance and knowledge from the first round.  Hiring the next agent is a pivotal decision!  Interview several agents and business models to see what works best for your time frame and equity position.  

 

Keep smiling!

 

Karen

 

 

 

Posted by

 

Karen Feltman, REALTOR®, ABR, AHS, CHMS,                                                                      CNE,CRS, e-Pro, green, GRI, SRES, TRC

Keller Williams Legacy Group

4850 Armar Drive SE Ste B

Cedar Rapids, Iowa 52403

Email: karenfeltman@gmail.com

Mobile  319-521-0701

www.KarenFeltman.com

Licensed in the State of Iowa

© 2010-2018 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Tony and Suzanne Marriott, Associate Brokers 07/12/2016 10:35 PM
  2. Patricia Kennedy 07/15/2016 04:00 PM
Topic:
Home Selling
Location:
Iowa Linn County Cedar Rapids
Groups:
Active Rain Newbies
Realtors®
1st Time Buyers
Iowa Real Estate
Addicted to Active Rain
Tags:
seller representation
listing agents
expired listing
sellers agents
selling your home in cedar rapids
karen feltman
realtor in cedar rapids
how important is staging

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Rainmaker
3,009,671
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Karen... I've been the second or even third agent in on many listings over the years... and I can say I prefer that position. By then unrealistic sellers have become real.

Jul 12, 2016 06:55 AM #5
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good advice for  home sellers. I hope they will read it.

Jul 12, 2016 08:44 AM #6
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

It's sometimes a question of are they listing to sell vs. listing to help other homes sell? It's usually pretty clear why the market, especially a busy one, has rejected a particular home, but it might a while before the owners realize why and be willing to do what has to be done to sell, including picking the right agent

Jeff

Jul 12, 2016 08:55 AM #7
Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

A very good post-   As far as I am concernedd

AND most importantly, they positioned the home at the price of the market.  I

Jul 12, 2016 02:06 PM #8
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Karen Feltman - yep, that's the real reason why the home sells - may be second time around, third time or....whatever....

It sells because ---

"AND most importantly, they positioned the home at the price of the market."

Jul 12, 2016 02:32 PM #9
Rainer
506,809
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

That is the truth!!!

Choosing a price above the market, clutter everywhere (which caused the agent to upload less photos), pet smells, overall condition of the property, or restrictions on when showings are available for buyers.

Jul 12, 2016 09:31 PM #11
Rainmaker
3,050,725
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Karen Feltman "Expired listings have a better chance of selling the second time around.  Especially with the right guidance and knowledge from the first round.  Hiring the next agent is a pivotal decision!"  Absolutely agree - once they have recovered from the shock of the initial failure!

Right on target and Re-Blog!

Jul 12, 2016 10:35 PM #12
Rainmaker
3,777,989
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Karen Fiddler, Broker/Owner ,

Just caught your post when Tony and Suzanne Marriott, Associate Brokers re-blogged! Congratulations on the well deserved feature! You are right on..the second time around with proper guidance and the right price a listing will sell!

Jul 12, 2016 10:41 PM #13
Rainmaker
2,434,058
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Like so much in this world, we humans learn after the fact or second time out

Jul 12, 2016 11:11 PM #14
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Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have to think some sellers are either clueless or really do not want to sell their home.

Jul 12, 2016 11:13 PM #15
Rainmaker
830,383
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Thanks for sharing your insights Karen Feltman - I often am the 2nd or 3rd agent on a "listing: and when I get it, it is going to be sold - not listed!

Jul 13, 2016 12:42 AM #16
Rainmaker
35,920
Sheldon Haywood
McGraw Realtors - Tulsa, OK
Haywood Home Team (HHT)

Karen - Thank you for the blog I learned a few things. 1. when calling expireds ask why they think it didn't sell. 2. Declutter 3. Pricing the home right is most important!

Jul 13, 2016 04:43 AM #17
Rainmaker
1,220,045
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I think your post's title is much like the old saying/advice, "poop or get off the pot", Karen Feltman.   Are the Sellers serious or not?  You're right when you say it typically doesn't take a rocket scientist to figure out why they haven't sold ...

Gene

Jul 13, 2016 07:24 AM #18
Rainmaker
1,413,765
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

It does sometimes take a few attempts for a seller to start to pay attention to the advice of their realtor.  And had they priced it properly right up front, or prepared it properly, they would have saved a lot of money continuing to pay for a house they don't want to stay in.

Jul 13, 2016 08:30 PM #19
Ambassador
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Karen 

Great post and featured to the group:

Addicted to Active Rain

Jul 14, 2016 12:04 PM #20
Rainmaker
506,933
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Hi Karen Feltman I found this on Patricia Kennedy's reblog. Great post. It's often easier the second time around because the seller's & the first agent have proven what doesn't work. Great post!

Jul 15, 2016 04:59 PM #21
Rainmaker
989,551
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

You've covered all of the basics here Karen. An "experienced" Seller knows the ropes a lot better than the rookie and is ready to rumble after that 1st or 2nd round. Well done!

Jul 15, 2016 07:25 PM #22
Ambassador
3,801,125
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Karen- well done!  I've met a few sellers who complained that their home had been on the market for a while and had no showings or offers.  That was when they decided to try staging.  After speaking with them, it was clear that they'd failed in hiring the right agent, listed the price too high, or had not improved the condition of their home. 

Jul 16, 2016 04:16 AM #23
Rainmaker
576,690
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

I was thinking the exact same thing today. Sellers who refuse to listen to good advice become stagnant on the market. The second time around... they make the improvements or adjustments that are necessary and the property sells.

Jul 18, 2016 11:35 AM #24
Rainmaker
1,675,919
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

A super find in the active rain archives, I'm glad I came across it. TY

Aug 11, 2016 03:20 PM #25
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Karen Feltman

Relocation Specialist in Cedar Rapids, Iowa
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