Dawn's shared items

Friday, September 12, 2014

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 Sings, 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 the 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.

ABC’s of “Why Work with a Realtor?”

Advertising- Your agent pays for all advertising.

Bargain- Research shows 77% of all sellers felt that their commission was well spent.

Contracts- Your agent can supply standard forms to expedite your transaction.

Details- Your agent frees you from handling many details of selling your home.

Experience and Expertise- In marketing, financing, negotiations, and more…

Financial “Know-how”- Your agent is aware of many financing options.

Glossary- A real estate professional understands, and can explain, real estate lingo.

Homework- Your agent will do the homework to determine your ideal marketing plan.

Information- Your agent has the resources to answer all of your real estate questions.

Juggle showings- Your agent will coordinate all of your showings.

Keeping your best interest in mind- It’s your agent’s job!

Laws & regulations- Your agent is “up-to-date” on real estate laws that affect you.

Multiple Listings Service- The most effective way of bringing sellers and buyers together.

Negotiation- Your agent will assist you in negotiating your offers.

Open Houses- A great way to enhance your home’s exposure in the marketplace.

Prospecting- Your agent has a network of contacts that assist in producing a buyer.

Qualifying- Avoid opening your home to “looky-loos”.

Realtor- An agent who belongs to the National Association of Realtors under a strict Code of Ethics.

Suggested Price- Your agent will perform a market analysis to establish fair market price.

Time- Your agent will save you tremendous amounts of valuable time.

Unbiased Opinion- A homeowner’s emotions can affect his/her objectiveness.

VIP- Your agent will treat you as their one and only customer.

Wisdom- A knowledgeable agent offers wisdom that comes from years of experience.

X marks the spot- Your agent is with you all the way, even through the signing of your final paperwork.

Yard Signs- Your agent provides professional signage, which encourages serious buyers.

Zero Stress- Selling your home is an emotional experience.  Your agent can help!