Facts about Expired Listings

Facts About Expired Listings

Nearly 15% to 25% of all listings do not sell.
The market rejects them.
In other words, the market did not accept the Marketing Effort, the Price, the Condition, the Location, or a combination of these areas—perhaps all four of them!

The good thing is that you control two of these areas: Price and Condition. We control one: Marketing Efforts.

Marketing Effort
Staging and Pricing Strategies

For Sale Signs, Rider Signs, Directional Signs

Tube or Box with Flyers and Distribution of Flyers in Neighborhood

Flyers in House/Comment Cards

Multiple Listing Service

Web Listings with Virtual Tour

Open House Program

Track Showings/Collect Feedback

Weekly Seller Updates

Property Caravans

And more!

Condition
A hundred dollar bill is a great metaphor: they all look good, but people will always choose the nice, clean, crisp one over a dirty wrinkled one. How does your house look to others? This is the crucial important difference between Showing condition and Living condition.

Price
Being overpriced is usually the reason a home did not sell, but condition will help determine what the market is willing to pay. Remember that YOU control price and condition. The wrong price attracts the wrong buyers. It creates a bad reputation for the house in the market place and makes properly priced homes look even better. Would anyone intentionally put their home on the market to help sell the competition?

Location
Nobody can do a thing about their location except to accent the positives and minimize the negatives.

Eight Steps to Selling Your Home

Eight steps to selling your home

Define your needs.
Write down all the reasons for selling your home. Ask yourself, “Why do I want to sell and what do I expect to accomplish with the sale?” For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you’d like to sell your house within a certain time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.
Name your price.
Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It’s often difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember: You’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.
Prepare your home.
Most of us don’t keep our homes in “showroom” condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It’s time to break out of that owner’s mindset and get your house in tip-top shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers. * A home with too much “personality” is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs. * Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer’s first impression. * Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.
Get the word out.
Now that you’re ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to get the word out, including: * The Internet * Yard signs * Open houses * Media advertising * Agent-to-agent referrals * Direct mail marketing campaigns In addition to listing your home on the MLS, your agent will use a combination of these tactics to bring the most qualified buyers to your home. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.
Receive an offer.
When you receive a written offer from a potential buyer, your real estate agent will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. The contract, though not limited to this list, should include the following: * Legal description of the property * Offer price * Down payment * Financing arrangements * List of fees and who will pay them * Deposit amount * Inspection rights and possible repair allowances * Method of conveying the title and who will handle the closing * Appliances and furnishings that will stay with the home * Settlement date * Contingencies At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.
Negotiate to sell.
Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent is well versed on the intricacies of the contracts used in your area and will protect your best interest throughout the bargaining. Your agent also knows what each contract clause means, what you will net from the sale and what areas are easiest to negotiate. Some negotiable items: * Price * Financing * Closing costs * Repairs * Appliances and fixtures * Landscaping * Painting * Move-in date Once both parties have agreed on the terms of the sale, your agent will prepare a contract.
Prepare to close.
Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer’s agent and service providers. Depending on the written contract, you may pay for all, some or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing. Important reminder: A few days before the closing, you will want to contact the entity that is closing the transaction and make sure the necessary documents will be ready to sign on the appropriate date. Also, begin to make arrangements for your upcoming move if you have not done so.
Close the deal.
“Closing” refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, he or she can mediate any last-minute issues that may arise. In some states, an attorney is required and you may wish to have one present. After the closing, you should make a “to do” list for turning the property over to the new owners. Here is a checklist to get you started. * Cancel electricity, gas, lawn care, cable and other routine services. * If the new owner is retaining any of the services, change the name on the account. * Gather owner’s manuals and warranties for all conveying appliances.

Effects of Over-Pricing on Selling time and Price

Effect of Over-Pricing on Selling Time & Price

70% of interested buyers will first learn about your home for sale in the first 30 days.

If the price is too high, those buyers will not get past the initial glance at it on MLS; they will not waste time visiting/touring your home.

It’s best to price it at fair market value to get the most interest & traffic.

If pricing it at fair market value brings multiple interested parties & offers, you can always go up from there.

Differences between a Normal Listing agent and an Aggressive Marketing Agent

Difference between a Normal Listing Agent and an Aggressive Marketing Agent
The Normal Listing Agent Method (The FIVE – 5 P’s):

Put Sign in the Yard

Put ad in the Newspaper

Put on MLS

Place an Ad Online

Prey it Sells

What I WILL do for you as an Aggressive MARKETING AGENT:

Staging and Pricing Strategies

For Sale Sign, Rider Signs, Open House Signs, and Directional Signs

Front-Yard Flyer Box and Distribution of Flyers in Entire Neighborhood(s)

Flyers in House/Home Book/Comment Cards/Virtual Tour CD-Rom

MLS (Multiple Listing Service)(with 15-30 pictures perfect pictures & full detailed descriptions)

Professional Virtual Tour placed on multiple websites

Web Listings

Open House Program – Public & Broker/Realtor (raises Agent Awareness)

Track Showings/Collect Feedback

Weekly Seller Updates

Property Caravans / Weekly & Monthly Office Virtual Tours

KWLS – Keller Williams Listing Service / KW Yellow Sheet

Send Announcements to all 14 Keller Williams offices in Houston

2,300+ Keller Williams Real Estate Agents will have your property in priority for the area.

All ~100 Agents out of Keller Williams Houston West Office will receive Professionally Designed Full Color

House Featured in “Marketing Vehicle” (Monthly Newsletter, Calendar, Magazines, etc)

2,500 pieces of Direct Mail to immediate community sent each month

Target Marketing – Featured Spotlight Showcase (Highlighted) Listings

Agent Marketing – Market to ALL Immediate Area Agents & Offices

Weekly Updates (phone call or email every Monday or sooner based on activity)

EaDo East Downtown Houston

EaDo / East Downtown Houston Real Estate for sale

Homes, Townhomes, Patio Homes & Highrises for sale in EaDo Houston

2034  Live Oak Street, 4

2034 Live Oak Street

Winning location! Downtown, EaDo, Midtown Montrose and Medical Center
Winning location! Downtown, EaDo, Midtown Montrose and Medical Center
HOU Properties
$200,000
2205  Mckinney Street, 4

2205 Mckinney Street

Your downtown loft is ready! This home has been meticulously maintaine
Your downtown loft is ready! This home has been meticulously maintaine
Exp Realty LLC
$209,000
2205  Mckinney Street, 4

2205 Mckinney Street

Nestle into this beautiful condo in the Historic Herrin Lofts in Houst
Nestle into this beautiful condo in the Historic Herrin Lofts in Houst
Keller Williams Realty
$214,000
1606  Fourcade, 4

1606 Fourcade

SOLD AS IS! SELLER WON’T MAKE REPAIRS. Great investment opportunity in
SOLD AS IS! SELLER WON’T MAKE REPAIRS. Great investment opportunity in
JLA Realty
$219,000
2205  Mckinney Street, 4

2205 Mckinney Street

Welcome to the Hisotric Herrin Lofts! This open floor plan loft exudes
Welcome to the Hisotric Herrin Lofts! This open floor plan loft exudes
Abundant Living Real Estate
$222,000
2340  Cumberland Street, 4

2340 Cumberland Street

TWO HOMES INCLUDED!! Rare opportunity that won’t last!! Midtown, Uni
TWO HOMES INCLUDED!! Rare opportunity that won’t last!! Midtown, Uni
Keller Williams Realty
$225,000
4434  Coyle Street, 4

4434 Coyle Street

LOOKING TO MAKE YOUR MARK IN EADO, THIS MAY JUST BE THE PROJECT FOR YO
LOOKING TO MAKE YOUR MARK IN EADO, THIS MAY JUST BE THE PROJECT FOR YO
RE MAX 1st Source
$229,900
712  Delano Street, 4

712 Delano Street

Fantastic 5000 sf lot for investors, developers, custom builders in th
Fantastic 5000 sf lot for investors, developers, custom builders in th
Keller Williams Realty
$229,988
6644  Sylvan Road, 4

6644 Sylvan Road

Cute & Charming brick home in Idylewood on pier and beam. Perfect oppo
Cute & Charming brick home in Idylewood on pier and beam. Perfect oppo
Busy Bee Realty
$230,000
2216  Chenevert Street, 16

2216 Chenevert Street

Beautiful Mediterranean-Style 2 bedroom 2 bath Condominium. Location,
Beautiful Mediterranean-Style 2 bedroom 2 bath Condominium. Location,
Philips Realty Group
$239,900
409  Grace Street, 4

409 Grace Street

Excellent investment opportunity! Home 5 blocks from Metro Light Rail
Excellent investment opportunity! Home 5 blocks from Metro Light Rail
Keller Williams Realty
$240,000
5541  Lawson Street, 4

5541 Lawson Street

Perfect corner lot property. Located minutes from Downtown, UH and Me
Perfect corner lot property. Located minutes from Downtown, UH and Me
RE MAX Prestige
$240,000
6449  Country Club Drive, 4

6449 Country Club Drive

House is located in known Houston Country Club Place subdivision, rece
House is located in known Houston Country Club Place subdivision, rece
Realty Associates
$240,000
5136  Jefferson Street, 4

5136 Jefferson Street

Centrally located in the rapidly growing, historic East End Lawndale s
Centrally located in the rapidly growing, historic East End Lawndale s
Refuge Real Estate
$249,900
1312  Live Oak Street, 16

1312 Live Oak Street

Sought after corner unit at Live Oak Lofts in exciting neighborhood of
Sought after corner unit at Live Oak Lofts in exciting neighborhood of
Keenan Properties
$249,995
3104  Garrow Street, 4

3104 Garrow Street

Great corner lot in East Downtown (EaDo) ready to be developed! Across
Great corner lot in East Downtown (EaDo) ready to be developed! Across
Realty ONE Group-Lone Star
$250,000
1417  Milby Street, 4

1417 Milby Street

Location, Location, Location!!! Great location in Eado near metro rai
Location, Location, Location!!! Great location in Eado near metro rai
Michelle Ray Properties
$250,000
4419  Harby Street, 4

4419 Harby Street

**PRICE REDUCTION** LOCATION, LOCATION, LOCATION!!! This circa 1940’s
**PRICE REDUCTION** LOCATION, LOCATION, LOCATION!!! This circa 1940’s
Jose Garza Agency
$260,000
2508  Gray Street, 16

2508 Gray Street

Excellent location; New construction all around! Cash offers only with
Excellent location; New construction all around! Cash offers only with
Sina Properties
$265,000
934  Mckinney Park Lane, 4

934 Mckinney Park Lane

This two story, free standing home in Mckinney Park Homes is located n
This two story, free standing home in Mckinney Park Homes is located n
Modern Charm Realty
$267,900

Buying a Home

There are cracks in the foundation. Nothing structural. Nothing that’s going to threaten the stability of the home, but they’re there. Nooks, crannies and holes through which seeps an invisible threat. Colorless, odorless and undetectable by your average human, it is nonetheless the second leading cause of lung cancer in the United States.

Radon gas – even the name sounds ominous, evoking images of radiation and nuclear devastation. Radon gas is created when uranium in the soil decays. The gas then seeps through any access point into a home. Common entry points are cracks in the foundation, poorly sealed pipes, drainage or any other loose point. Once in the home, the gas can collect in certain areas – especially basements and other low-lying, closed areas – and build up over time to dangerous levels. The Environmental Protection Agency of the US Government has set a threshold of 4 pico curies per liter as the safe level. As humans are exposed to the gas over a period of years, it can have a significant and detrimental effect.

Selling Your Home

Selling your local Houston home

Downsizing, upsizing, looking for something new, or any reason in between, you’re considering selling a New York property and we’re ready to help you with 23 full-time Sales Executives, a full-service support staff, legal department, and in-house marketing department. WP Estate invests over $2 million each year marketing properties on New York only, targeting qualified buyers. That’s almost $5,000 per listing. No other company invests in New York like we do.

Choosing to sell your house is a big decision that brings with it a variety of challenges. From attracting buyers to negotiating contracts, it’s helpful to have a professional real estate agent on your side to help reduce stress and lead to the best possible outcome. Finding the right real estate agent can present a challenge in itself, however, with the high quantity of qualified Australian agents out there. To get started with selling your house, you’ll want to compare agents carefully to find an individual who will be most effective in helping you with your particular needs.