What Causes a Listing to Expire?
The process of putting your home on the market can be a difficult and stressful decision. When that already trying process results in an unsuccessful sale, it can be disheartening and frustrating. Many feel the need to give up or go at it alone. But, before you make the decision to do either of these, Team Christine can help you identify some common (and quite solvable) problems that may have caused your listing to expire, and we will work with you to alleviate them in the future. At Team Christine, we specialize in properties that should have sold, but didn't.
According to national studies, the following factors have most negatively affected the sale of a home:
1. Lack of Market Exposure.
One of the easiest ways to destroy the sale of anything is not to let everyone know it is available. It seems like common sense, yet it is quite prevalent in the real-estate industry. Most agents have one or two websites to advertise your home, at Team Christine we have nearly 100 different websites that your home can be found on.
An absence of strong market exposure could be the reason your property did not sell. While they can be an important part of a total marketing plan, a yard sign, input into the MLS system, and a few classified ads are just not enough in the current market. With technology, Team Christine promotes properties in a variety of innovative ways. We offer buyers access to information about our listings via a 24-hour text code. Providing ALL your homes photos, video tours, and information instantly to potential buyers.
In today's real-estate world, buyers demand easy access to information, and we are committed to making it available.
2. The home was not showcased to its best potential.
In the market place, competition is steep. There is a good chance that there are a number of properties in your area that may have many of the same features that your home has to offer. Because of this, it is imperative that your property stands out in the crowd. To do that, your home needs to look its absolute best. However, there are little things that, as a property owner, you might overlook. Buyers are very cautious about their investment, and they will probably scrutinize every inch of the property. Because of this, even very little things can have a major impact on the appeal of your property. Potential buyers may look elsewhere or attempt to deduct repair costs from the price of the property.
At Team Christine, we understand the impact this can have on the sale of your property. Many repairs that can be performed at little or no cost can have a major effect on the price you receive. I am an expert at giving homeowners suggestions as to stage their home to show like a model home and make the best possible impact. We also have a team of subcontractors who can make repairs and improvements at discounted prices to our clients.
At Team Christine, we help you prepare and stage your home for NO Additional FEE!
3. Overpricing the property.
This is probably the biggest negative factor influencing a sale. Many sellers overprice their property based on the belief that they will be able to negotiate down to a reasonable price. This may appear to be prudent, but it can cause significant problems.
- Showings decrease because the property is perceived to be priced out of the market
- Exposure is greatly reduced and buyers who might qualify for the property will not view it because it is out of their price range
- Diminished "new inventory" excitement level among local agents
- The property can be considered shop worn or stale, even after price reductions
- The price cannot be justified on an appraisal, putting a buyer's financing in jeopardy and resulting in a terminated contract
- Time on the market increases, which increases expenses and lowers your net profit
At Team Christine, we certainly understand the pride you have in your property. Sometimes, this pride clouds your vision of what the realistic value of the property should be. You might be basing the price on what you paid for the property plus improvements, or maybe you are relying on the opinion of friends and neighbors. We would like to offer you something more specific than an opinion or an educated guess. We will provide a market analysis and a complete pricing strategy that will clearly show that there is more to gain by pricing within the market value instead of holding out for a higher price.
On average, listings with Team Christine sell for a higher list price, which is 2.8% higher than the other realtors ® in the area. Bottom line to you: more money at closing.
Here are some of additional results you may see from over pricing your property:
- Monetary loss
- Delay in moving on to another property or investment
- Holding the property during off season, costing you more money
- Owning two properties and incurring double expenses
- Additional wear and tear on your present property
- Investment value of having your money sooner than later
- Inconvenience involving your time and money
Remember, homes normally sell at fair market value!
Team Christine has a history of successful closings. With shorter-than-average market times (by more than 50 days), higher-than-average sale prices, and a team of dedicated professionals to serve you, Team Christine gives you 100% attention, service, and efforts until your property is closed.
With 22 years of experience our team knows how to handle the many challenges that homeowners face in today’s market. Won't you allow us to help you achieve our mutual goal of placing a SOLD sign in your yard?