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HomeExpired Listings Hot Topic

Expired Listings Hot Topic

I've noticed that Expired Listings have been a hot topic here on Active Rain recently. Not surprising considering how many Expired Listings are occurring as inventory far exceeds demand.

So - how can a Seller get their home sold in today's market? It's a no-brainer that they have to have their home competitively priced.

What does that mean?

If you want to sell your home, and there are 9 equivalent homes on the market - you better be willing to price it at the low end of the range of list prices - AND - if the reason the 9 homes are languishing on the market is because they are all listed for significantly more than the last sale of an equivalent property - you need to price it for the market.

Average Days on Market in our MLS is hovering around 100.

Average Days on Market for our SOLD listings is less than 30 between activating the listing in the MLS and getting the property under contract.

Average percentage of inventory sold every month - about 10%.

Average percentage of our inventory sold every month - 30-40% - three to four times better than the average.

What's the "secret"? Price, presentation and marketing (how many prospective Buyers do we "reach").

Want to know more? Contact me today!

Click here to make sure you see future entries on my blog

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If you are considering a move to Phoenix, or buying Phoenix Real Estate, you owe it to yourself to talk with The Marriott Group at Keller Williams Realty Professional Partners to determine whether Tony Marriott is the best real estate Broker in the Phoenix area to help you buy or sell a home.The Marriott Group

http://www.phoenixarizonahomesearch.com/

http://www.marriottrealty.com/

http://www.greaterphoenix-scottsdale-homesearch.com/

Posted Monday Jun 18
(06/18/07 10:17PM) — Brad Snyder

Every real estate professional should be looking at a program to work on expired listings. More and more will be available because of the changing real estate economy and agents' inability to stay ahead of the trends. This is a valuable resource for building your listing inventory because the sellers want to sell.

(06/18/07 10:24PM) — Susan Trombley Re/Max Broker Raleigh NC & Surrounding Areas

Tony -

I have even seen homes under priced sitting on the market. Some are wondering why is it a good deal and back away. It takes all types these days. I really believe that the agent will make ar break a sale in todays market.

(06/18/07 10:46PM) — Michael Eisenberg, Bellingham Realtor

Overpriced homes are all sittingon the market too long, I can see I need to start marketing to expireds.

(06/18/07 10:57PM) — Palmetto Bay | Redland Real Estate | Maggie Dokic

Tony, pricing, as always, is key.  What a creative way for you to get subscribers. lol  I wonder if it will unsubscribe me if I click on it?  I don't want to find out.

(06/18/07 11:58PM) — Aurora Colorado Real Estate Ray Saenz, Colorado Realtor

Tony, very interesting topic,  I need to learn about the expired listings :) thanks for sharing that with us, keep the good blog my friend !

 

(06/19/07 01:38AM) — Fran Gatti - Crescent City CA Real Estate

Tony,

My last three listings were priced well and sold within two months.  It is refreshing to work with seller's that are realistic in their expectations.  I will continue to work with seller's who truly want to sell at a fair market price and pass on the seller's who don't.

Franf

(06/19/07 08:47AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Brad - Thanks for the reinforcement

(06/19/07 08:48AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Susan - Agreed.  That's why it's critical to communicate the "why" at the same time the prospective Buyers become aware of the property so they aren't leery...

(06/19/07 08:49AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Michael - They are well qualified prospects.  We know that (at least when they listed their property) they wanted to sell and were interested in using an agent to help them.

(06/19/07 08:50AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Maggie - Nope - It won't unsubscribe you - it's been tested!

(06/19/07 08:50AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Ray - Good to hear from you - keep blogging!

(06/19/07 08:51AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Fran - Selectivity is key - especially in this market

(06/19/07 08:51AM) — Tony Marriott, Associate Broker, CRP, CLHMS, CRB, CRS ~~ Phoenix Arizona

Kristine - How did it turn out?

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