Expired. That word in itself will make any human being cringe. Expired gym membership (ehhhh). Expired insurance. Expired milk. That big “E” word is never a good thing. This is definitely the case when a property listing expires. A range of emotions set in when a homeowner’s home sits on the market for days and days…eventually for the listing to only…gulp…expire. What’s wrong with my home? Why is this happening to me? Why does my agent stink? All of these questions can go through an expiree’s head. But, have no fear, because I am going to help you understand why your home may have not sold. Then, I’m going to guide you through the process of making sure that it does. Take a deep breath, dry those tears and, as Winston Churchill has said, I quote, “Never, never, never give up.”
Pick the RIGHT Agent
You have finally decided to sell your home and start a new chapter in your life. Good for you! Life is short and sometimes you just have to grab it by the…anyway. Just to let you know, I’m proud of you. So, first thing you have to do is find an agent. Or, if you are so lucky to have one in the family….hmmmmm…call them up, sign those papers and put that sign in the yard. Now, you wait. And wait….and….wait. What the heck? Where are the offers? Why aren’t more people interested? It doesn’t make sense. Well, not only will picking the right agent help you sell…but, coming to terms with reality will help as well.
I have been in real estate for over 15 years. So, let’s just say that I know the trick of the trades of the business. As with all other commission-based professions, agents will do WHATEVER they can to sell themselves to potential clients. In the meantime, they will usually throw you a bunch of BS while sugarcoating the heck out of it. I’ve never wanted to be one of those agents. But, when I first started…I would have certainly sold one of my kidneys for a listing. Luckily, I came to the realization that you can only be a successful agent by proving yourself to be honest and trustworthy. Integrity goes a long way in this business…or, in any for that matter.
With that said…you need to find somebody who is real and honest. Not just somebody with experience…because, believe you me, I’ve seen some rookies kill it in this business. But, somebody who will work their tail off for you…while, being honest as heck the whole time. Agents know what’s sold in your neighborhood, they know what the market is doing….and, they know what your home can sell for. Unfortunately, many homeowners can’t come to terms with reality. That brings me to my next point.
Price Your Home to Sell
When I was 23, I purchased my first home. In my eyes, this 800 square foot A-Frame could do no wrong. I loved that little house, and I was convinced that everybody else would love it just as much. So, when it came to sell my first love, I ignored the market and priced it at what I thought it was worth. Well, to my dismay, most people didn’t see the value in it that I saw. After it sat on the market for over a year…yes, you read that right…over a year, I decided to analyze the situation. After some research, many tears…and a couple glasses of wine, I decided to reduce the price. But, in a short time, I realized that the damage was already done.
The next few days I got more showings, more interest in my little A-frame. But, then the questions came. The doubt.
“Why has your home been on the market for so long?”… “What’s wrong with it?” Not only was I taken aback, but extremely offended that anybody would think anything could possibly be wrong with my home. You see, agents and people alike will stigmatize a home that sits on the market too long. They either think that it didn’t pass a pre-offer inspection, it was just prettier in pictures…or, it’s just a dump. The speculation is endless. In their eyes, your home is nothing more than damaged goods. Anyway, with that said, the first impression needs to be the best impression. Don’t mark your home with a scarlet letter…price it right from the get-go.
What Should I Do Now?
Whenever a homeowner comes to me with that defeated, helpless look in their eyes…I start singing with them the lyrics to that timeless Sinatra song, “I pick myself up, dust myself off, and start all over again.” I’m kidding about the singing, I would never put ANYBODY through that. Ever. What I’m getting at here, is that you may have felt defeated the first go-round, but this second time around, you are going to conquer. The first step of this victory will start with picking an honest, straightforward agent. An agent that will help you get top dollar for your home, without overpricing it. An agent that will guide you every step of the way and not leave you in the dark. You will sell your home. There will be light at the end of the tunnel. I promise.
Oh, and my little A-Frame did eventually sell at the new price.
But, to me, that home will always remain priceless.
Emily Benner
Orange County REAL Estate Specialist
Keller Williams REALTY
Call or Text me ANYTIME: 949.877.9856
What's Your Home Worth in Today's Market?
CalBre: 02031182
Specializing in Huntington Beach, Seal Beach, Newport Beach and Surrounding Areas
