What is an expired listing? An expired listing is one that has not sold by the end of the period stipulated in the listing contract between the seller and the listing agent. In Nevada, you can have what is called an “exclusive right to sell” agreement with your brokerage and listing agent. This period of time is set on the multi-listing service (MLS), and once that period is up, you can renew that contract with your listing agent or remove your home from sale.
We never want to see this happen and so we take steps to help avoid that scenario. These are my tips to help you avoid an expired listing:
- Overpriced Homes
Many homes that expire do so because the listing was overpriced.
Overvaluing a home sometimes happens when an eager agent is hoping to secure the listing, or when a homeowner who believes their home is worth more than what the market can bear insists on a high listing price.
Many factors go into valuing your property. Local area sales history relative to your home (market data), to your home’s features and upgrades, along with how the market is moving will help determine a good selling price.
An experienced agent is familiar with the local area market, current market trends and can adequately price your home to sell. They can also help you navigate the market, negotiate offers and successfully sell your home at the right price.
Do not over price your home to make room for negotiation, lean into your agent for appropriate pricing.
- Inadequate Marketing
In this day and age, we have a multitude of ways to market properties online. So many times, listings end up on MLS and that is it, nothing more. Your agent’s job is to market your home – not just list it. From MLS, to social media, to sharing information in the community, and providing adequate marketing materials at the property, this all works together in getting the word out that the property is for sale.
You will receive an honest and researched valuation of your property before it is listed for sale. You will have the opportunity to review that valuation and go over the details of how I came to that valuation and get answers to all of your questions.
My team of marketing professionals and transaction coordinators work diligently to get the word out about your property to help you sell it quicker.
My network of agents and community members help to get more eyes on your property listing, helping you to gain exposure and ultimately sell faster.
Looking to sell, or know someone who is? Call me today! (775) 309-7979.