Expired! How To Sell a Home That Didn't Sell
You put your house up for sale and what happened? The listing expired without a sale. And now you’re wondering what went wrong... Like all homeowners, you hoped your house would sell quickly. Some houses do. In fact, the majority of houses sell during the initial listing time agreed to by the seller and agent, usually a period of three months or more. But – as you’ve found out – some don’t sell. In some tough markets, as many as a third to half of the listings expire unsold.
What should you do now? If your listing has expired and you really want results, I can help. Don’t get spooked by your unsuccessful sale. The home-sale you want is still well within reach!
Are You Committed To Selling?
First, take a step back and review your decision to sell. Do you still want to move? Although you may feel discouraged, if you still want or need to sell, make a renewed commitment to do what it takes to market the house effectively.
Next, find out precisely what went wrong. An expired listing usually reflects a problem in one or more of four major areas: communication, price, condition or marketing.
Why no sale? What did prospects say about price, about condition? What feedback did other agents offer? Teamwork between seller and agent is key to know how to alter a marketing plan for success. Inattention to a listing can be a factor, but rarely the whole story.
Every seller can boost a property’s exposure. Make it easy to show by allowing showing times that are convenient to buyers, and leave the house during showings so that buyers can speak candidly about the house. Also, keep the house in showplace shape, depersonalize furnishings so prospects see themselves at home, keep large pets at a distance.
Remember, the next prospect may be your buyer. By listing with River City Realty, customer service is of upmost importance. We contact other REALTORS® on a daily basis for showing feedback and promptly provide you with the feedback so that you know what things to change to increase the saleability of your home.
This is the most common culprit for the lack of a sale. An incorrectly priced house attracts the wrong buyers or worse – none at all! Market conditions probably have changed since you initially listed your house. Houses may have sold, additional houses may be listed now, loan rates may have moved up or down.
At River City Realty, we offer a FREE no obligation Market Analysis on your home. We will use current up-to-date information from recently sold houses and houses currently for sale that are comparable to yours. With this information and after viewing your home we can give you an accurate price for your home in today’s market.
Activity without offers often indicates overpricing. Remember, any house, no matter what condition, will sell for the right price. What price is "right" depends on market conditions, competition and condition.
Is your house someone else's dream home? When buyers enter, do they think, "I love this house!"? A house in move-in condition invites a sale. Have you fixed all the little squeaks and drips, cleaned and painted, decluttered, brightened up and concentrated on outside curb appeal? Or are you hesitant to take care of major items? For instance, did you offer an allowance for new carpet instead of installing it?
While prospective buyers are trying to imagine what new carpet will look and feel like, they likely are discounting the price still further for the worn carpet underfoot.
A house in like-new condition sells fastest and gets the best price because it out-shines the competition. We at River City Realty would be happy to offer you a free, no obligation evaluation and meet with you to tour your house and help you see it as prospective buyers do.
Marketing of your house is a key component to the quick sale of any property. It is important to ask any REALTOR® what their marketing plan is, as the secret to success is a carefully crafted plan that exposes your property to the widest possible pool of prospective buyers.
River City Realty has a comprehensive 21 Point Marketing plan that guarantees your home is advertised 24/7 until it is sold, using a variety of traditional and web based marketing tools.