Hey, guys. Welcome back to my video blog!
For the past 20 years, I’ve specialized in expired listings.
These are homes that were listed with another agent and just sat on the market.
All my clients ask me why their home didn’t sell.
I have about five main reasons why a home may have sat on
the market. The first is presentation. Presentation online and in person is
crucial. According to statistics from last year, buyers only visited 4.7 homes
before purchasing. That means they waded through hundreds online to only visit
fewer than five homes.
Second is access. You need to make your home available as
much as possible. If a buyer can only view your home at a few restricted times,
they will most likely give up on your property.
Thirdly, do not have your pets present during a showing.
When buyers come to look at your home they want to wander freely. Having the buyer
or the pets present can be very distracting.
Pricing is also significantly important when trying to sell
your home. If you price your home too high, there is a chance it will just sit
on the market. When I determine the listing price of a home, I bring in
comparable homes; we compare apples to apples and find a good price range.
The final reason your home may have expired is the rejection
of the first offer. Sometimes sellers will turn down the first offer because
they think it’s too low. We have a rule in our business: the first offer is the
best offer. While I don’t necessarily believe the first offer is the best, I do
believe the first buyer is the best. Don’t be afraid to counteroffer. If you
reject that buyer, it could come back to haunt you later.
These are some of the main reasons I see that homes do not
sell. If you have any questions or are ready to put your home back on the
market, give me a call!
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