Expired Listing Information
In Clare and Gladwin County Michigan
1,356 homes were listed in 2016
20% of those expired off the market unsold!
How can you avoid being one of the unsellables?
Below I have outlined the main reasons that real estate listings don't sell and eventually expire off the market.
- Priced Too High - Selling your home can be a very emotional venture but when it comes to determining the value of your home it needs to be strictly business. Allow the real estate professional to prepare a Comparable Market Analysis (CMA) to determine your homes present worth. This CMA will take into account comparable homes that have sold recently, actively listed homes that will be your competition and the existing real estate market. Unfortunately when it comes time to determine a value, the agent cannot take into account what you paid for the home or what you have into repairs/renovations. The present market and recent solds dictate the value; the facts only and not anyone's opinion.
- Not Extensively Internet Marketed - In the age of the internet that we live within, if your home is not extensively and effectively internet marketed the largest percentage of home buyers are not viewing your home. According to the National Association of Realtors over 90% of home buyers begin their search for a new home online. In addition they click on the home listings that have multiple photos and visual tours more often than any others. I cannot stress enough the importance of being extensively internet marketed with good ad copy, beautiful photos and a tour.
- Not Convenient to Show - Home buyers like to see homes when it is convenient for their schedules, so making it difficult to get an appointment to view your home may get it crossed off their list. If your home is for sale it should always be kept neat and ready to show, so scheduling an appointment on short notice shouldn't be an issue. Of course there are times when this can't happen i.e. family emergencies, sick children, etc. and that, of course, is understandable.
- Doesn't Show To Its Potential - One thing that I have discovered through my years in real estate is that there is a buyer for every home! Your home doesn't have to be the best on the block or worth a lot of money to show to its potential. Just make sure that it is free of clutter inside and out, free of odors from pets, smoke, etc. and listen to your agent when they suggest staging tips. In a buyers market when there are many homes to choose from home buyers will not look for the potential in your home; they need to see it. Demonstrate how good your house can show and it will spark an interest from the right buyer. Also, a house that doesn't show well on the surface gives the buyers the perception that unseen items haven't been maintained either (such as roof, mechanicals, foundation, etc.).
- Contract Length Was Too Short - It is important to know the facts and statistics concerning your local market. If the average days on market is 7.5 months and you only listed for 90 days, chances are that could be why your agent didn't produce a ready, willing and able buyer. You must be on the market, for long enough, with the right price, to attract a buyer.
- Communication - By far the most common complaint I receive from clients who had their house on the market before was that they never heard from their agent. You need to be sure you are listing with a full time, professional agent who will communicate the good and the bad info on a regular basis. Ask your new or potential agent how they will stay in contact with you. Your agent should be providing you local market updates, feedback from recent showings, the need for price reductions, etc. You also need to communicate with your agent and advise them of any changes in your life that will affect your decision to sell. They need to know if you are behind on payments, have accepted a new job in another state, etc.
Your house is typically your pride and joy and has been a source of enjoyment and a place where you have raised your family, created happy memories, survived the bad times and made renovations to make it uniquely your own. When your home is not selling it can create feelings of unease, anxiety, depression and hurt. The good news is once the right factors for successfully selling your home are in place, those feelings will be a distant memory.
The right agent can and will make all the difference in your journey to sell your home.
Expired listings are majority of my sales!!!
My success in selling expired listings can be attributed to my:
- Accurate Pricing - my listings sell (on average) for no more than 4% less than asking price. My 2016 sellers received 96.76% of their asking price which was higher than the county average.
- Great Communication - I stay in touch with all my sellers on a regular basis via emails, phone calls and newsletters that I personally publish.
- Extensive & Effective Internet Marketing - I place your listing on the Clare/Gladwin Board of Realtors MLS with an engaging description and multiple high quality photos. Your listing is featured on Zillow and Trulia, your listing is placed on all 3 of my websites and is then syndicated to over 300 sites including LakeHomes.com, Homes.com, Nest Builder, Home Finder, Realty Trac, Land Watch, Craigslist, and many, many more. Homewaters.net receives thousands of unique visitors each month and with their visitors being serious real estate buyers this is a priceless piece of the my marketing.
- Professional Pictures and Visual Tours - I personally take pride in obtaining the best pictures possible and personally create an engaging visual tour of your home. These multiple photos and tours accompany your listing everywhere it can be found online.
If you are ready to sell and would like to enlist the help of a full time, professional Top Selling Realtor with a proven track record call/text 989-429-2600 or email firstname.lastname@example.org to set up an appointment for me to view your home.
You make the first step and I will guide you through the rest of the process!