Your Listing Just Expired; Want to Know Why?

After months on the market your listing just expired? You are probably upset with your Realtor, frustrated with the market, and trying to figure out what to do next.

You don't want to make the same mistake twice. Your mind is full of questions. Did my Realtor do a good enough job? Should I try to sell it myself? Why aren't buyers interested in my property? Why did no one even make an offer? If I do re-list the property, how do I find the right Realtor?

These are all excellent questions that deserve some thought.

Did my Realtor do a good enough job?

Most sellers have a tendency to blame the Realtor when their house doesn't sell. That's human nature. None of us want to believe that WE could be the reason our home didn't sell. Sellers tend to blame the Realtor; Realtors tend to blame the seller. What's going on?

Let me admit that it's possible you selected the wrong Realtor. Ask yourself, "How did I choose the Realtor I listed with?" Most people choose the first Realtor with which they come in contact. That's probably not the best way.

Did you ask family and friends for a referral? Did you thoroughly interview the Realtor? Did you ask about their experience, results, and marketing plan? Interviewing for a good Realtor to represent you takes time and effort. I even provide people with a list of questions to ask Realtors. You can find it on my web site below.

Should I try to sell it myself?

It's easy to fall into the trap of saying, "I'll just reduce the price and sell it myself." Sounds easy, doesn't it? But selling a home is a lot more complicated than sticking a sign in the yard and holding an open house.

The problem with trying to sell it yourself is that even fewer buyers will know that your home is for sale. In fact, since the most motivated buyers are working with Realtors, only the left-over buyers will even look at your home.

If hundreds and even thousands of Realtors in your market were unable to interest a buyer in your home, what chance to you really have of finding one yourself?

Why aren't buyers interested in my property?

This is the real question that needs to be studied. Perhaps the price was too high. This is the primary reason a home doesn't sell and the most difficult reality for a seller to admit. We all tend to think our home is worth more than our neighbors.

Perhaps there is something wrong with the condition of the property. Buyers are comparative shopping and if your home needs carpet, paint, or repairs they are likely to just pass it by. Look at the condition of your home from the curb and throughout the interior from the buyer's perspective. Eliminate any objections a buyer might raise.

Perhaps the marketing strategy was flawed. Will your home best be suited for first time buyers, down-sizers, or move-uppers? Each may need a different marketing plan. Be sure your next Realtor has a specific target market in mind.

Why did no one even make an offer?

It's a funny thing, but buyers do not make offers on over-priced homes. They simply move on to better priced homes. Did you have no offer, or did you reject offers that you did receive? No offers and no showings mean the home is over priced.

Be sure your home is in perfect condition and priced to generate excitement. You know you are at that level when you have multiple showings and buyers are coming back for a second look. It should be just a matter of time before an offer comes in.

How do I find the right Realtor?

Well, if you lived in Bradenton, Florida I would say just call me. But chances are you live somewhere else. I can still help by referring you to a good agent in your area.

If you decide to find a Realtor on your own you might consider one that works a lot in your neighborhood. Whose signs to you see a lot? Have your received postcards or mail from an active agent? Who have your friends and neighbors used? Ask for referrals.

Another way to find an agent is to look at their advertisements in the local newspaper or home magazines.

Hands down, the best way to find a good Realtor is to search online. Go to your favorite search engine and type in the name of your town followed by the words "real estate." I would recommend that you ignore the sponsored links. They are just paid advertisements. You want to look for the true search engine results. Call the one with the number one placement. This agent will offer your home the most exposure.

Just because your listing expired once doesn't mean you won't be successful the second time around. Now that you know what to do next, you're success is practically guaranteed.

(Copyright © 2007 By Dan Forbes, All Rights Reserved.)