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Why Would Your Listing Expire In A Sellers Market?

You’ve had your Condo on the market for quite awhile and now ask “Why hasn’t it sold yet?”. There can be several reasons why the sale of a house can go bad, here are the top contenders:

1. Marketing

A real estate agent lives or dies by how they market listings to prospective buyers.  If they don’t have their “A” game on you will find your property needlessly sitting unsold. You need an agent who has a method to the madness in knowing how to draw in the right buyer.

There needs to be a solid understanding of the metrics, methodology and tools your agent uses to draw in qualified buyers. More importantly, how will your agent keep the buyer engaged. What methods do they use to place the right message, to the right person and at the right time?  Simply placing six photos of your home on Trulia hoping it will sell on its own just doesn’t cut it.

By using technologies such as Geo-targeting and pushing a walk-thru video of your listing to the cell phones of all “active” buyers, you can bring maximum exposure to everyone who is actively looking to purchase a new home.  A common mistake is relying on industry tools such as Trulia, Zillow and alone to host photos of our home.   Your Realtor needs to place your home into the hands of of everyone who is looking to purchase today.  Feel free to reach out to me to see how this works…


2. Your Agent

Your real estate agent is the most important partner you will have through the process of selling your home.  You are trusting their judgement from the moment they walk in your door to the time you hand over the keys to your buyer.

Understanding the goals and objectives of selling your home is important for both the agent and the seller. Your agent needs to know what your motivation is so they can best represent you.  Likewise, you need to understand the agent’s motivation especially if you are considering re-listing with them. You should be sure that they are focused on the sale of your home and not a another lucrative development that is about to hit the market.


3. Price

Your house is the most valuable hard asset you may have.  In some cases, you may have invested a significant amount of money to rebuild something truly unique with a one of a kind view of Manhattan. You had a strong price point set when you decided to sell your house and now that the listing has expired, you may need to adjust your expectations.

“If you were shopping for a BMW and two identical cars were for sale but one costs $10,000 more than the other, which one would you buy?”

Pricing your home correctly is very important. If you overprice your house for the market, it can just sit there for months, even years. By taking a quick look at Trulia, you will get an understanding of what your prospective buyers are looking at. Most importantly, have your agent show you what comparable houses have sold for.

If you have any questions or want to discuss strategies, do not hesitate to reach out to me.

Rich Cronin – (201) 566-6049

All information deemed reliable, but not guaranteed.  If your property is currently listed for sale or lease by another Broker, this is not intended as a solicitation.

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