I’m excited to help you, my client, avoid having your listing expire. I’m also excited to reveal secrets to sale success that people don’t often know. The Real Estate agent does not have complete control over how your listing; it really is a team effort. You have more control than you think.
Previously, I had shared 3 reasons that listings expire, and how you can avoid it. (Which ones surprised you?) I’m excited to tell you two more ways you can avoid having your listing expire.
The condition of your property matters hugely. The example in the video found here (about expired listings) explains it well: if I would offer you a choice between a crisp, clean $100 bill, and a crumpled, wrinkly $100 bill, which would you take? You would likely choose the crisp one. The value is not increased, but it ‘sells faster’. There is a huge difference between living condition and showing condition, and that difference can make or break a sale.
What to do about it: Ask your agent for advice on how to best shine and buff your home to bring it to showing condition. It could mean floor or window replacements, paint, or simply decluttering and de-personalizing your space. Either way, this is happily something you the seller have complete control over.
Did you know you control the price of your property? It’s true! The agent determines market value based on their thorough research and analysis and makes an educated recommendation, but price is ultimately up to you. (This is important to know, especially when you are shopping for an agent.) An agent can recommend a price drop, a market test, or to list above market value. It is wise to follow their recommendations, and critical to remember that agents are not bound to compromise their reputation by listing out-to-lunch prices. My intent is not to say you control your agent and can demand anything you wish. It’s not about control, it’s about team work. Most of the time people do as their agent tells them. I’m telling you that YOU have a horse in this race, and can decide what you will and will not do or agree to.
What to do about it: Your decision about price is going to be driven by your goals. What are your goals? Are you set on receiving a certain dollar amount, even if it means a sale takes a long time, or perhaps not selling at all? Do you need to sell asap? These goals will determine whether or not you choose to maintain or lower your price. Discuss these goals with your agent so you are both on the same page. Your agent wants to work with you to accomplish your goal. It also helps them to gear their marketing efforts more effectively if they know where you’re at.
Hmm… all this talk about price makes me think about one of the biggest mistakes people make when choosing an agent. I’ll have to post about that soon. In the meantime, may your agent work hard for you, your property sell quickly!