In my daily prospecting, I work on converting expired listings. For the longest time, I truly believed that price was the single reason why homes expire and never go back on the market. Over time, however, I have spoken with many homeowners who all seem to have the same complaint. These people sign a contract with a Realtor and do not hear from him or her unless there is showing feedback or the agent wants to renew the listing. This is disheartening to me because it reflects poorly on all of us.
Sure, price and condition do determine how much activity the home will draw. Homes that are overpriced or in poor condition in our current market will be difficult to sell, but our marketing and our communication are critical. We should be telling our sellers on a regular basis just what we are doing to sell their homes. Our regular communication about marketing strategies will provide support for us when we recommend those much needed price reductions.
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