Hello, welcome to my blog.
With years of experience in real estate industry, I started this blog to share my ideas with all of you. My posts are for buyers, sellers and real estate professionals.
I am member of powerhouse team of Remax Specialists. With a unique love for the area and people I serve, I presently
reside in Upper Marlboro, MD, with my beautiful wife who I married 8 years ago, and my four wonderful sons.
You can also find my posts here:
http://heywardhomes.blogspot.com/
Or visit my homepage:
http://heywardhomes.com/
If you are from MD or DC or you are planning to move there, I can give you free consultation - just send me an email to charles.heyward@gmail.com
All the best,
Charles
With years of experience in real estate industry, I started this blog to share my ideas with all of you. My posts are for buyers, sellers and real estate professionals.
I am member of powerhouse team of Remax Specialists. With a unique love for the area and people I serve, I presently
reside in Upper Marlboro, MD, with my beautiful wife who I married 8 years ago, and my four wonderful sons.
You can also find my posts here:
http://heywardhomes.blogspot.com/
Or visit my homepage:
http://heywardhomes.com/
If you are from MD or DC or you are planning to move there, I can give you free consultation - just send me an email to charles.heyward@gmail.com
All the best,
Charles
Why listings expire
Posted 12-29-2009 at 01:00 AM by CharlesHeyward
In today’s blogpost, I would like to discuss why listings expire on the market and what could be the possible solution.
Firstly, we must have a clear understanding of what an expired listing is. An expired listing is a listing that was on the active Multiple Listing Service (MLS) being viewed by potential buyers or their agents before the expiry. The listing expires as the contract exceeds pre-defined date for listing between the listing agent and the seller.
Listings expire for a number of reasons. Let’s narrow down to just a couple. Mostly, it comes down to pricing or condition of the home. What I typically find is that many homes expire because the seller is dictating the agent what the home should be priced at. Overpricing enters easily especially because of the seller’s emotional attachment to the house. However, you make good business decisions only when you keep your emotions aside and have relevant information for selling the house in today’s market. All the relevant issues need to be addressed when listing the house. Price can cover almost anything. If the seller does not want to spend the time or money to get the home into good condition, they need to look at the current price, and adjust it realistically.
Sellers are often unable to sell their homes because they are misinformed. The agent can play a crucial role in determining the home price. He must be brutally honest with the seller and say that here’s the situation and here’s what your home value is compared to other homes. The seller must be informed about what’s going on in the market, the recent sales in the area and comparison of their pricing with others. The seller must be informed about taking an unbiased approach towards assessing the current inventory of homes in the market and the competition. The agent must educate the sellers that people looking at their home will see other homes too. They will observe the materials you have used, the size of the rooms, carpets, furniture, walls, and practically everything. The agent must make the seller consider all the aspects that the home is strong or weak in and then finalize the price.
Firstly, we must have a clear understanding of what an expired listing is. An expired listing is a listing that was on the active Multiple Listing Service (MLS) being viewed by potential buyers or their agents before the expiry. The listing expires as the contract exceeds pre-defined date for listing between the listing agent and the seller.
Listings expire for a number of reasons. Let’s narrow down to just a couple. Mostly, it comes down to pricing or condition of the home. What I typically find is that many homes expire because the seller is dictating the agent what the home should be priced at. Overpricing enters easily especially because of the seller’s emotional attachment to the house. However, you make good business decisions only when you keep your emotions aside and have relevant information for selling the house in today’s market. All the relevant issues need to be addressed when listing the house. Price can cover almost anything. If the seller does not want to spend the time or money to get the home into good condition, they need to look at the current price, and adjust it realistically.
Sellers are often unable to sell their homes because they are misinformed. The agent can play a crucial role in determining the home price. He must be brutally honest with the seller and say that here’s the situation and here’s what your home value is compared to other homes. The seller must be informed about what’s going on in the market, the recent sales in the area and comparison of their pricing with others. The seller must be informed about taking an unbiased approach towards assessing the current inventory of homes in the market and the competition. The agent must educate the sellers that people looking at their home will see other homes too. They will observe the materials you have used, the size of the rooms, carpets, furniture, walls, and practically everything. The agent must make the seller consider all the aspects that the home is strong or weak in and then finalize the price.
Total Comments 0
