Three Reasons Listings Expire And How To Avoid It

bar-graphDid you know that nearly a third of property listings expire?

That number increases in a slow market.

As a seller, there are things you can do to avoid having your listing expire. You may not be able to make a buyer deliver an offer any more than I can, but you have more control than you think. You have control! How’s that for a well-kept secret?

Three Reasons Listings Expire

Slow Market

A slow market can be the seasonal slump that December and January typically bring here in Manitoba. It can also be brought on by a recession, new banking rules, interest rates, or a change in the local economy. (The close of a major manufacturer for example). A slow market is just one of those things that is out of our control.

What to do about it: Relax. Be patient. Remember, it is normal for a home to take more time to sell in a slow market. (Hence the name)

 

Low Quality Photos

This one is pretty straight forward. Photos are the very first impression people will have of your property. They need to be stellar.

What to do about it: While this is, again, in the agent’s control, you can increase your odds of a sale by choosing an agent who is skilled in this way.

 

Poor Marketing.

When Real Estate Agents start to believe that every house will sell, their marketing efforts dwindle. Whether an agent’s poor marketing is brought on by complacency or misunderstanding, the fact is that you need an agent doing all they can to market your property effectively.

What to do about it: While this is in the control of the agent, you do have some control over this at the onset. Choose a REALTOR who is dedicated to marketing. Find a full service agent who skillfully (and ethically) invests their time and money to get you that sale.

 

I love that you, the seller, can help control the outcome of your listing. We really are a team, client and agent, working together to sell your property quickly and for the price you want.  There are two more secret controls you have that I haven’t mentioned yet. Did you know you can also control price?! Stay tuned…

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