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Expired Listings

Why Listings Expire without a Successful Sale

There are many reasons why homes listings expire, here I will touch on the three main reasons listings expire.

  • Marketing
  • Pricing
  • Condition

Marketing

The number one reason of listings expiring is marketing. Times have change in the last five years and 99% of all Realtors have not changed with the times. The internet has changed the way buyers are searching for their homes. Over 94% of home buyers start their home search using the internet. For most Realtors, internet marketing for them is listing the homes on the MLS (Multi Listings Service). The MLS is a great tool to use that will get your home on websites such as Realtor.com and a few other website, but that only accounts for 20% percent of all internet traffic. Where other Realtors miss out is the internet traffic from Google, Yahoo, and Bing/MSN.

Another mistake most Realtors make is relying on print advertising such as newspaper ads and home magazines ads. Less than 1% of homes sold are found using print advertising. If your listing of your home has expired without a sale and your Realtor relied heavily on print advertising or if your previous agent tried to squeak by with the bare minimum by just placing your home in the Multiple Listings Service, then chances are relisting with that same agent again will not help your situation.

With over 94% of home buyers starting their home search using the internet, does it make good since to choose a Realtor with a strong background in Internet Marketing? With over 10 years of internet marketing experience, I can help you get your home the internet exposure it needs.

Price

Since price is important to both sellers and buyers, here are some things you can do to expedite the sale of your home:

  • Obtain a CMA, Comparative Market Analysis, from your agent.
  • If no comparable properties have sold lately, have your home appraised by a professional. This will assure you of top dollar and encourage buyers to make realistic offers.
  • Set your price with supporting data that will make sense to buyers.
  • Don’t set your selling price based on how much you need to get out of the house because of how much you put into it, or how much you need to make the next purchase.
  • Have your home inspected and make required repairs. This will eliminate reasons for buyers to offer a lesser price.
  • Offering a home warranty will eliminate a buyer’s fear of anticipated repairs.
  • Don’t hesitate to revise your price downward if you attract no serious buyers within the first 2 weeks.


Many sellers won’t follow any of these tips, even if their listings have expired and they face another 90 days or more. Perhaps you’ve already bought another home and are facing double payments, or you’ve been transferred and want to move the entire family before school starts. Whatever your reasons, isn’t it time to pull out all the stops?


Everyone Wins When the Property Is Priced Right! Sellers gain prospects for homes priced within their range. Real Estate Agents gain inventory to show to their clients. Sellers and Agents gain prospects who are serious and less likely to lowball on price, unwilling to risk losing out on a well-priced home.
Buyers get a home that’s a great value because they are buying at the right price...a price with room for future financial growth.


Condition

Did you keep your home in showroom condition, depersonalize it so prospects could see themselves at home? A house in like-new condition sells fastest and gets the best price because it outshines the competition.

Curb Appeal – Were buyers turned off before even seeing the inside of your home? If your front and side yards were overgrown, neglected and in
shambles, and outdoor fixtures dirty, you probably lost them even though you had a delightful and spotless interior.

Creaks and Squeaks – Screen doors swinging, off their hinges, broken and dirty windows, shaky staircase railings, chipped porcelain, sinks in kitchens and bathrooms, rusty spots from leaky faucets—all these things count a lot when buyers compare other properties to yours.

Smart Investment – A little elbow grease, some paint and inexpensive new carpeting could make your home attractive to some lucky buyer.

Fibber McGee’s Closet – A pack rat’s nest will not attract a full price buyer. Since you’re planning on moving soon, why not get a headstart? Organize, sort, throw away, donate...be absolutely brutal when it comes to clutter. Removing clutter will make your house look brighter and larger.

A Final Word on the Subject – Pride of Ownership pays off in a big way!

Selling your home is important to you! Let’s examine your responsibilities:

  • All needed repairs, including painting, should be made prior to relisting your home.
  • Cosmetic improvements: repair or replace anything that’s broken, old, or dirty.
  • Clean everything, get rid of clutter, pick up and put away personal items, clothes, toys.
  • This is delicate...but if possible please rid your home of pet odors.
  • Your home should be well lighted when shown.
  • Maintain your home in showroom condition until it sells!
  • We’re all familiar with the real estate mantra “location, location, location.” Equally important is “presentation, presentation, presentation.” Presentation is a valuable selling tool; do not underestimate its power. The money you spend on the front end of your sale will come back to you many fold in your sale price.
  • The first impression you create will either sell or not sell your home.

If you have any question about relisting your home or why your home has expired with out a sale, Contact Don Today!

Contact: Don Cecil Realtor®
Schuler Bauer
1361 N Dixie
Radcliff, KY 40160
Direct: (270) 351-9777
Cell: (270) 735-7610
Fax: (270) 351-9988
Email: dcecil0628@aol.com