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Top Reasons why Your House Listing Expired
Monday, June 8, 2015
Many people put their house on the market with high expectations. After all, this is their home and they’ve likely spent a great deal of time making it into a comfortable place to live. Unfortunately, new buyers often don’t see your home the same way you do. They’ll be more critical of cosmetic problems or other issues that you’ve grown accustomed to dealing with. Understanding some of the reasons why your listing has expired can help you realize why we buy houses
that others typically reject.First Impressions are Important
Many real estate agents will take just about any listing they can get; however, not all listings are ready for the market. It is important that you look at your property with a critical eye and see it from a buyer’s perspective.
A new coat of paint, a few minor repairs or replacing a roof that has exceeded its usefulness, can all be great ways to add buyer interest. Most people know that curb appeal can make or break the success of a listing, but making your home attractive and functional on the inside is also important.The Wrong Pricing
Another big reason a real estate listing will expire without a sale is because the asking price is too high. Researching the asking and selling price of similar homes in the same area can help home sellers get a better understanding of the local real estate market. Compare only properties that are in the same area; however, it is also crucial that you look at the square footage of the home, amenities, age, the number of bedrooms and bathrooms as well as lot size.
A property that is overpriced will likely not get many interested buyers. Today’s home buyer is usually very informed regarding the local market. If the property is overpriced, you’ll get fewer people looking at your home and chances are your listing will simply expire. Of course, the longer your home is on the market, the more apt potential buyers will be to start seeing it as a distressed property or a home that has something wrong with it. Most buyers assume that a good property at a fair price will sell quickly.
There are certainly other factors that can cause a listing to expire. For example, buyer financing can fall through or problems with the inspection can mean you’re facing expensive repairs before you can even get to the final sale. Fortunately, we buy houses
all the time and will always offer a fair price, regardless of the property’s condition.