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.

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