Expired Listing Experts
You have had your home on the market for several months, you have watched the market shift and heard your agent say, reduce the price, reduce the price. And, now, your listing is about to expire, what do you do? What should you expect?
Expect a ton of calls from all of the expired listing experts in the field. Most, not all, of the agents who lurk around the expired listing data sheets are agents who are looking for quick business, and who are just following a script call sheet to get an appointment. They will call you and ask you if you are still interested in selling, of course you are! They will say that they are the expert at selling expired listings, yet they do not have a marketing plan in place, and they rarely list homes that have recently expired. They will say that they have someone interested in buying your home, well then, bring the buyer by the house. They will say that they are just what you have been waiting for, only to sit down with you to say that the reason your home didn’t sell in the first place, is that you didn’t hire the right agent and that they did not have it priced correctly. So, how do you avoid this and get your home sold prior to the bombardment of harassing real estate agent phone calls?
Steps to Salvation in Real Estate
Listen to your current agent. You hired that agent for a reason.
- Hiring the right real estate agent on the front end is crucial. Just don’t hire someone who says your home is worth what you thought it was worth or more. I would say that the agent who “promises” more value is usually the agent that asks for the price drop quicker than you hoped for. Create the correct value on the front end by pricing your home at the right price. Buyers will tend to shy away from an overpriced home. Remember, you cannot under price a home, yet you sure can over price one and keep your home from selling.
What is happening in your market, are prices going up or going down?
- Watch market trends every week during your listing period. Keep a good eye out on your neighborhood. Are more homes coming on the market? Are homes going under contract? Every, and I repeat, every closed home between the time you list and sell your home affects the equity you have in your home. Very few homes are sold to cash buyers for top dollar. Most cash buyers expect the discount, so the better opportunity to get a higher value for your home is by selling to the buyer who is securing a home mortgage. This will require an appraisal and this will either hurt or help your value, so keep watching the market with your agent.
What changes can you make to marketing?
- Take a look at who is going to buy your home? What funnel can you create to find the perfect buyer? Are they first time buyers? Is the family growing which creates the need for a larger home? Have the kids gone on to college and they need to reduce space? Targeting is becoming the new way to attract buyers. Agents that say they will toss the broad need and catch several fish, are doing just that, fishing without bait. Most buyers are just like you when you purchased your home, and the best buyer is your twin.
What changes can you make to the house?
- Looking at the competition on the recent homes that have gone under contract? What was it about those homes that caused them to sell prior to yours? Don’t be the stubborn seller who says that your home is the best in the neighborhood and that your home is worth way more than your neighbors because your have a certain granite in your kitchen or that your fireplace is floor to ceiling and your neighbors just had a short one. Buyers want clean, updated homes. Homes that will stand out from the crowd and at a great value. They want to say that they got a deal. Buyers want to share with the family and friends the home of their dreams, not one that they over paid for and that they had to spend a ton of money on to fix up, just to get it to compare with the Jones..
What changes can you make to your list price?
- The Price is Right. Create the value that is right for your neighborhood. A good listing price will attract more buyers and that will create a higher demand for the home. Just get the price right and with the right marketing, you will be extremely happy with the result, a home that is under contract.
Additional links to helping you sell your home:
The RockStar Group is proud to have helped over 400 families sell or purchase a home. Our extensive marketing plan is put into place on every listing, generating lots of traffic for our clients. We are not perfect and some of our listings have expired for many different reasons. We would be happy to show you how we can put a specific plan in place for your home when you are ready to sell. We would love for you to watch our Home Selling Process Video Series to see just how we do things around here.
Did your home expire and you really want to make a change with your agent? We would be happy to help?
Here is the link to our Listing Presentation
Contact us today for a confidential interview. You can call us at 281-960-1900, or shoot us an email at email@example.com
Interested in seeing our listings in The Woodlands?