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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. Listing agents specialize
in listing and marketing houses to sell at TOP
DOLLAR. 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 30-DAY 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.
Request a written step-by-step marketing plan
for selling your house before the listing contract
is signed. 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
A. Experience at listing and marketing houses
for sale.
B. Ability to use technology for marketing your
house worldwide to buyers 24/7.
C. Reviewing with you a comprehensive Marketing
Analysis of home sales in your area.
D. Ability to offer a written step-by-step 30-DAY
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.
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