So your home didn't sell? Now what?

01/10/2007

An expired listing can be the most frustrating and deflating experience. All your hopes, all your dreams now seem unreachable. A lack of showings can strand you on an island feeling deflated, or worse, a lot of showings with no offers leaves you physically exhausted and emotionally drained. What’s wrong with your home? Why didn’t it sell? Was it your agent’s fault? Was the price too high? Is the market bad? Should we have had more open houses? Where’s the key to unlock this door?

Sometimes it’s best to get a fresh prospective on things. If your sitting on an expired listing the best thing to do is to try “SomeThing and SomeOne” new. I’ve seen scores of expired listings sell in no-time-flat, with a minor price adjustment and a new sign on the lawn. Both price and representation are huge factors in getting homes with expired listings sold quickly.

When a home comes back on the market with a new price and a new agent, the market seems to respond as though the listing is brand new. With that in mind, comfort is still the most important factor in determining who you should list your home with. Call a couple of Realtors - find the best fit and ask for a solid dose of reality when it comes to price.

The important thing is not to lose sight of your goal. The reason why you wanted to move in the first place is sometimes overshadowed by a few months of bad luck with the market. If your price was somewhat unrealistic, a good Realtor will help you redefine your goals and present you with options.

One final note. With interest rates expected to rise and a softening of the market anticipated, now is probably the most money you are going to receive for your home. Waiting to re-list now could be a mistake. Thanks for listening!

Till next month this is Rob Thompson saying, “Good Luck and Good Selling!”

Rob Thompson has been helping families make the right real estate decisions since 1985 and continues to do so with his Team of Professionals in the communities of the 416 and 31 corridors.

Return to Real Estate News