TOP 5 Reasons Your Home Expired On The Market

This top 5 list will hopefully help those sellers out there whose home has expired on the market.  An "expired listing" is a home whose listing agreement has come to an end and the home is no longer being marketed for sale.

1.  Overpriced?
Sad, but true.  80% of marketing is pricing effectively.  Market price doesn't have any correlation to how much a person actually paid for their house a few years ago.  Ideally, market values go up and homeowners enjoy increased equity, sometimes though, that's just not the case!  Buying and Selling houses is the same as any other market.  For instance, if a gallon of milk cost 4.59 at Wal-Mart, and 2.39 at Food Lion, you'd probably buy your milk at Food Lion.  The same goes for pricing homes- you have to be priced in the market to be considered.

2.  Who was your REALTOR®?
Was your REALTOR® market savvy?  Did they understand the market trends?  Were they internet savvy?  Use social media?  Most homebuyers (92%, according to National Association of REALTORS®) begin their home search online.  So internet presence is a big deal!

3.  Competition?
What was your competition?  What was the speed of the market?  Did your REALTOR® share an absorption report with you?  An absorption report is a great tool to determine the level of competition and the tempo of the market.  This is helpful so that you know how to price your home and when to put it on the market.

4.  Showings
How available was your home for showings?  Did you decline or try to reschedule showings?  When a showing is declined or rescheduled, it almost never works out in the sellers' favor.  How did your home look when it was shown?  Was it clean, neat, decluttered and easy to show?  That's a key to selling your house.

5.  Feedback
From the showings you had, what was the feedback?  Did your REALTOR® discuss the feedback with you and suggest improvements to make it more appealing?  Or, did they negotiate with the buyer's agent to change the home to increase the chance of an offer?

It may be some, or all of these factors.  And sometimes, even the best homes don't sell the first time they're on the market.  I specialize in getting homes sold when they didn't sell before.  If you'd like a free consultation, click here, or give me a call!  910.545.0450.

I'd be happy to discuss with you how to sell your home and help you get a plan in place to get it SOLD.  Don't let your home be victim to any of these top 5 and become expired.  Let's get it SOLD.