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What do you do if your listing expires? When a listing expires, it reminds me of my favorite quote from Robin Hood: “Have I wronged you in another life?” It feels like every Realtor has wronged you up to that point.
All Realtors are not created equal, though. I also think there are just a few main reasons why houses expire on the market without selling:
- The agent or company didn’t give you the right information to begin with. They didn’t understand what was happening in the area; therefore, they didn’t know how to gauge the market properly.
- The agent or company didn’t have enough market share. The phone’s not ringing and there aren’t a lot of buyers calling that agent or company.
- Their support stopped when they entered your home into the MLS. It takes a lot more than the MLS to sell your home.
When a listing expires, it’s natural to think that all agents and services are the same, but that’s not true. For example, the average agent in this market sells eight homes a year, and our team sold 500 homes last year. I like to say that we’ve perfected seller representation; we think it’s our forte. You also want an agent who can help you maximize your equity when selling.
You should work with an agent or team that doesn’t stop marketing your home once it’s on the MLS. Homes that sell fast sell for more money, and if your home listing expired, it now has a history of failing to sell. Work with an agent who knows how to minimize that damage by putting a new face on the house and introducing it back into the market in front of as many buyers as possible.
If you have more questions about selling an expired home or you have any real estate questions at all, feel free to give me a call. We’d love to hear from you!