Listings expire for a variety of reasons. Most commonly I see good listings expire for one of two reasons.

Any one of these two reasons will likely stop the property from selling. I do see a combination of both in many cases. It’s a bad combination to have when trying to sell a home for top dollar in any market.

What to do about it?

The best way to not be affected by these two conditions is to not fall into them in the first place. Understanding that both of these conditions are interrelated is the first step. If the price in not well researched and supported, not only will agents notice it, but buyers will too. Thus, limiting the number of showings the property has, if it doesn’t stopping them all together.

In today’s market it’s almost impossible to sell a home if it’s over priced. With new regulations that do not allow home owners, buyer or agents to contact the assigned appraiser, buyers will be forewarned by their agents that financing could be an issue. Resulting in delays to the escrow and possibly losing their deposit. Meaning that, even if a buyer is willing to purchase the property at the asking price, they will not be able to secure financing. The only way to get a home sold under these circumstances is with all cash and typically all cash purchases are completed at below market value. Not netting the seller top dollar.

How do I avoid these pitfalls?

First, take a realistic view of local market and activity. Understand that current property on the market is not an indicator of price, much less value. Today valuing process will force you to sell the value of the home twice of not three times.

Placing yourself in line with the market will prevent unrealistic expectations from the sale. While at the same time prevent wasted time and effort showing the property to unqualified and unmotivated buyers. The last thing you want as a home owner is to be the model home to sell others property in the area. Think about it. “This is what the house down the street can look like if you buy lower and update it yourself.” Which is something that happens very often.

Why pricing the home well, increases exposure?

Placing the correct price is a delicate step. As a professional looking out for my clients best interest I want to help them price the home where it’s not being given away and at the same time not limiting the potential viewings of the property.

When discussing the range of the price, it is ALWAYS better to be on the lower end of the price range and have multiple offers to negotiate than to be on the high side and have nothing to negotiate and frustration from seeing other homes in the local market selling and not yours. Taking a page out of the bank owned listing process and creating a lot of demand for the property has proven to be the way to sell homes for more.

Understanding, that to sell a home for top dollar most times takes exposing the home to the highest number of potential buyer possible is crucial to the selling process.

Keep this in mind when selling!

A professional’s involvement in the selling process is to enable the seller and help them understand the market and how it’s affecting the sale of the property. At the same time the professional assists the seller with the responsibilities that rest on the sellers hand whether or not a professional is representing them.

There are numerous disclosures, reports and procedures that have to be met to be compliant and free of liability to the buyer when the transaction is done.

If your property has expired from the market contact me via this link and I’ll be happy to explain what might have happened and offer solutions.

At no cost and with no obligation!