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Expired
Listing
We provide real estate services to buyers
and sellers in Pennsylvania (Berks County, Chester County, Delaware County,
Montgomery County, Philadelphia, Drexel Hill, Haverford Township, Havertown and Upper Darby) as well as in
New Jersey (Brigantine, Atlantic City, Ocean City, Camden County and Gloucester
County).
If your house did not sell during the listing period, it is referred to as an
“Expired Listing”. And now you’re wondering what to do. The question you may
be asking yourself is, “Where did I go wrong?” Was it my choice of agent? Was
it my price? Was it something about my house? Was it the neighborhood? Was it
a combination of all of these? The answer is not in you, but rather the
previous agent you trusted. Be prepared with the right information so you can
interview your new prospective agent with confidence and assure you make the
right choice this time.
With thousands of dollars at stake and the time invested, do not risk making the
same mistake twice. Be absolutely certain your new agent is qualified to sell
your home. Never feel you must make this decision based on obligation to a
friend or relative. Your listing has expired and it’s easy to develop the
identity of having a problem property in the market place. Even more so than
before, it is critical that you get the right agent.
Typically, most people will ask business associates, family, or friends for a
referral to a trustworthy and dependable real estate agent. Other sellers will
watch neighborhood signs to see what names come up frequently. There are those
who rely on the reputation of the major national franchise companies. Without
reliable information, though, any of these routes could be a disaster.
It’s important to trust your instincts. When selecting an agent, he or she
should be someone you feel good about. Remember, you are willing to trust them
with the details of the largest financial transaction you may ever make. Do not
allow an agent to dictate your time table. Find one you can work with.
When shopping for your new agent, ask for references from past sellers before
signing another listing agreement. While a nice testimonial letter in an
agent’s presentation booklet might be a good start, it may not be an accurate
depiction of the agent’s experience. What you should look for is a listing
agent. A good listing agent is a good communicator and will give you specific
recommendations for getting your house sold quickly. A good listing agent will
also have other listings, and may find your best buyer inquiring on other
listings that he or she has.
You should also pay close attention to the reputation of the company the agent
works for. Talk to local businesses and even members of the chamber of
commerce. A company’s reputation will be known in the community.
In a slow or declining market homes stay on the market longer and sellers can
become frustrated that their homes aren’t selling. In a slow market or a hot
seller’s market an open line of communication is important for both the seller
and the agent. Also keep in mind that an agent who does a great number of sales
is a lot busier than an agent who sells only a few homes each year.
When interviewing a new agent, learn what marketing strategy will be applied to
sell your home. Do they have a specific MARKETING PLAN to get your house
sold? Can the agent properly advise you about the current housing market? Is
the agent a full-time agent or just part time? Ask for an updated Competitive
Market Analysis to review the current SOLDS, FOR SALES, PENDINGS and EXPIRED
LISTINGS. When an agent lists your house for sale the listing belongs to the
broker and you may get stuck with a replacement agent who is inexperienced,
which can be very costly.
Make sure your agent is using the latest
technologies for generating buyer leads. Ask if the agent has a personal
website that offers virtual home tours so all prospective buyers can see your
home 24/7.
Finally, establish a time to review marketing tactics with your agent and be
willing to adjust the price of the home after the first fifteen days. Ask for
feedback from showings of other agents. Help the agent understand that any news
is good news because it can help you make adjustments in your marketing
strategy.
Choosing your Agent wisely. Any agent will show enthusiasm and will want to list
your house for sale but choose your agent based upon:
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Experience at listing and marketing houses for sale.
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Ability to use technology for marketing your house worldwide to buyers 24/7.
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Reviewing with you a comprehensive Marketing Analysis of home sales in your
area.
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Ability to offer a written step-by-step MARKETING PLAN that will get
your house sold at the highest possible price.
Working with a full-time professional real
estate agent is a must. Choose your agent by asking questions of him or her.
Find out how knowledgeable they are about houses currently for sale in your
price range and also of houses that have recently sold. Can your agent recommend
a good lender that has the reputation of excellent customer service and low
rates to assist your new buyer with financing? A good listing agent can get
your house sold quickly at TOP DOLLAR and help you find a new home.
To receive
your FREE copy of Homebuyer's Handbook or Homeseller's Handbook, click here.
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