Expired Listings 101

Are you familiar with the term "expired listing"? 
Let's unravel the meaning behind it and explore why it's important for both buyers and sellers in the real estate market.

Definition: An expired listing refers to a property listing that was active on the market but didn't sell within the specified timeframe outlined in the listing agreement. When the listing agreement expires, the property is no longer actively marketed.

Why Does It Happen?

Pricing: Incorrectly priced homes may not attract enough interest or fail to align with market conditions.

Marketing Strategies: Inadequate or ineffective marketing efforts may limit exposure and fail to attract potential buyers.

Condition or Presentation: A property's condition or lack of appeal may deter buyers, resulting in limited offers or no sale.

The Answer is in Your Realtor of Choice

Choose an experienced local agent that you know you can trust and take their advice. Many sellers remain emotionally attached to their home and do not listen to sound advice from their Realtor. Other times, sellers choose a high volume or discount agent that is less engaged with them on a personal basis. It's also important to consider that a discount agent is going to cut back on your home's marketing efforts before they take a cut in their personal pay. If your home sits on the market longer they may just consider it bonus that their sign is in your yard longer, attracting more business for them. 

Post a Comment