<b>Why listings expire! I Should have Known Why it Didn’t Sell!</b>

By
Real Estate Agent with Crye-Leike REALTORS® 165062

 

Sometimes sellers look at you when you ask them if they have any idea why their home didn’t sell?  They answer “NO, not really!”  The other agent just wasn’t aggressive enough!  They didn’t do enough open homes or advertise everyday!  So why do listings expire!  Let’s see:  No upgrades and over priced, dirty homes and filthy floors, sticking doors, funky colors or none at all, barking dogs and hissing pets, cats that sharpen claws on rug, rotted wood, mildewed walls, curb appeal missing, broken walk, dated lighting with tarnished brass,  un-cut grass, purple shutters, lime green walls, dated wall paper, leaky spigots, three foot weeds, no lawn at all, leaves not blown, sagging floors, threadbare carpets, burnt out lights, musty smells, leaky pipes, no hot water, garage door won’t work, fogged up windows  and broken glass, sump pump is broken, dirty toilets, handprints on walls, bales of newspapers and old magazines, border paper in every room, avocado fixtures, dirty oven, AC not working, missing shingles on the roof, rotting trees ready to fall, shaky deck not bolted or flashed, dripping faucets, fireplace with a damp creosote smell, light switches not working, powers off, ants in kitchen, webs on wall, fleas in basement, soiled laundry airing out, dishes in sink, piled high, leaks in ceiling, missing grout, missing shingles on the roof, and rusting gutters dripping goop!   No showing in morning and there’s no lockbox, it’s appointment only, but no morning shows …Oh, and before I forget do not cross the police line!

Posted by

James Crawford ABR, Broker Associate

 

 

 

 

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Tags:
selling
days on market
listing agents
expired listings
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listings that dontsell
why homes dont sell

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Rainer
151,716
Cynthia Sloop
Community Association Manager - Indianapolis, IN
Yes, I think your list about covers it all!  I will have a listing expire tomorrow due to the seller refusing to do any of the things I suggested to make the home more appealing in the buyers eyes.  It's mind boggling what some people pass off and still believe they'll get the high price.
Apr 20, 2007 02:36 PM #11
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
Hey Cynthia, not in this market.  When I used to work expireds in the early 90's...the 3rd time Expired was always the charm!   Sellers start to listen!
Apr 20, 2007 02:51 PM #12
Rainer
29,660
Theresa Cavanaugh
Global Realty Marketing - Appleton, WI
One question...why hire someone you aren't going to listen to? 
Apr 20, 2007 03:02 PM #13
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
No SaleI don't.  Usually you will get one or just a few items.  However, in a buyers market, 1 item could be critical because the buyers have a lot more to choose from!  Sellers keep thinking its last year, and it is not. 1 item of the above could make the difference or sale or no sale!
Apr 20, 2007 03:32 PM #14
Rainmaker
226,979
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO
Good list Jim, but as you said, the secret is in getting the seller to do it.  I had a beautiful home for sale last year - high end, but with an unorthodox floor plan.  The sellers always came into the house from their garage.  Could not get them to understand the front entryway was stunning, and would they please put some gravel in to drive up to the front porch?  Brought them two offers of $420,000, but couldn't get them together.  Sure enough it expired and I didn't get the renewal.  10 months later it sold for $415,000.
Apr 20, 2007 04:22 PM #15
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

In this market you can have a perfect 10 and if the price is off by just a little bit, it may as well be overpriced by a million dollars. 

Apr 20, 2007 05:02 PM #16
Rainer
7,916
Karl Kruger
North State Financial, Inc. - Brentwood, CA

I agree Jim.  I have several listings that are in the bottom 5% of price, wihtin a market area.  Even though the price is right, if the property isnt up to par, forget about closing that deal.  It is a two way street, however....marketing a home is just as important as price and presentation.

Apr 21, 2007 05:35 AM #17
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
I fully agree.  I've been doing this for a long time.  Some sellers look at you when you try to explain this market to them like you have 5 heads on your shoulders.  You wonder if they even turn the news one, or read the paper, or have they noticed every home on their street is for sale?
Apr 21, 2007 05:38 AM #18
Rainmaker
336,965
Paul David Hiebing
Grampp Realty: Real Estate in the Quad-Cities - Bettendorf, IA
Quad-City REALTOR®, @ Grampp, Realty of The Q.C.

I still believe that regardless of location, condition, odors, garbage, broken windows, neighbors, pets, busy street etc....

EACH AND EVERY HOUSE, has a buyer at the right price--- it just comes down to adding value for the positives and subtracting value for the negatives...

Thats what the foreclosure market proves to us every day---- every (or should i say 99.999%) will sell eventually--- when priced right...

Apr 21, 2007 05:49 AM #19
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
I disagree.  This is a buyers market with a lot fewer buyers.  I believe all the components have to be addressed to effect a sale.  Now your original statement I would agree with if this were normal times.  However, this time I see some major differences.  Inventory in Atlanta is absolutely through the roof.  The home has to be a 10 in appearance and price to sell.
Apr 21, 2007 05:54 AM #20
Rainmaker
593,057
Neal Bloom
eXp Realty - Weston, FL
Realtor CRS-Weston FL Real Estate

Jim,

I agree with your comment above,if I could find a qualified buyer by walking outside naked to get their attention ..I would...the sellers should know it is the opposite now ...they should be shaking ..not the buyers...I have a listing like that now....she refuses to reduce...and the house has no upgrades...she actually wants me to raise the price...in here neighborhood there has been only 4 closed sales from Jan-end of  March and only 3 pending...and she still thinks the market will come back(YEAH RIGHT)

Apr 21, 2007 06:02 AM #21
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Fire her!   In real estate the new term will be "N-E-X-T-!"  Lithe the Kenny Rogers song "The Gambler!"

"....You got to know when to walk away, and know when to run..."

Apr 21, 2007 06:14 AM #22
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
Short but sweet... great post!  Who amongst us hasn't had this question and absolutly known the answer?  It's not the agent, it's the seller's fault.
Apr 22, 2007 12:56 AM #23
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
Yes, but the sellers never want to hear it.  I have one where the seler keeps saying they'll take action next week, and next week never comes.  They expire shortly and we will not renew.
Apr 22, 2007 01:28 AM #24
Rainer
51,145
Jody Deeds
Key Realty, LTD - Columbus, OH
"Helping You Move On With Your Plans"

I work expireds heavily and they account for about 50% of my business.  Usually I'm the 2nd or 3rd agent having a go at the property and 95% of the time the issue is price.  I agree the 3rd time seems to the point sellers see the light.  Expireds are a terrific source of business, but they are also a breed of their own.

 

Apr 23, 2007 12:35 AM #25
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
Pre-Internet they accounted for over 80% of our work!  I had a routine that worked so good!  I used special deliver packages, I puchased a $5 rubber Stamp taht said "IMMEDIATE DELIVERY!"  And inside I had a pre-list kit with some marketing materials.  Expireds are an easy source of income.
Apr 23, 2007 12:43 AM #26
Rainer
29,632
Michael Holmes
Clearpoint REALTORS - Germantown, TN

You know, it occured to me that sending the above list in the form of a humerous letter to expireds just might open a door or two.  Plus, if they see anything on the list that applies to them, they might say yikes! 

It might make them realize maybe, just maybe, they have a part in the home not selling.....it makes me wonder.....hmmmmm.

Jul 06, 2008 05:19 AM #27
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thanks I agree, however, please create your own list of similar terms since I am also a columnist...this material is copyright.

Jul 06, 2008 05:59 AM #28
Rainer
8,828
Susan Emrich
Brownstone Real Estate Co. - Quentin, PA
SFR, e-Pro,CMRS, CRS

Hi Jim,

I see that I am a little late reading your post but I felt compelled to comment. I love your comments. It made me laugh because it is sooooo true.

I hope to read more from you and make it a great week.

Jul 27, 2008 03:55 PM #29
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

 Susan Emrich (RE/MAX of Lebanon County)   You're not late...this story is timless in real estate.

Jul 27, 2008 05:11 PM #30
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