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 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Have withdrawn their listing from the market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.
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.