If you’re new to the real estate world, you may not understand the concept of an expired listing. If your broker has taken you under their wing and helped you understand all things real estate then you would probably understand the importance of never letting your listings expire, but if you feel like you’re scratching your head wondering what just happened, you may want some answers. Here are just a few reasons your listing expired:

You Did Not Market their Property – One of the most glaringly obvious ways you could have lost your listing is that you did not market it properly. Even if you feel you did your job well, your homeowners will most likely assume this is where you dropped the ball. Luckily, nowadays, any Realtor who has access to the Multiple Listings Service in their area should never worry that this was the case. The MLS links to every other Realtor in that part of your state, so agents with clients will be able to search for and find your home easily. The MLS also links to major websites like Zillow and Trulia for home buyers who are looking for themselves, without hiring a buyer’s agent. If you’re not a member of your local and National Association of Realtors, then you may have overlooked how important the MLS is to your listing’s success.

You Couldn’t Set a Marketable Price – More likely than not, most real estate agents actually struggle with setting a marketable price for the home they are representing. This isn’t for a lack of knowledge of the current market, rather it’s their inability to convince the homeowner how much their home is really worth. As a Baker real estate agent, you will find that your two hardest jobs will be to:

    1) convince a homeowner that their home is worth less than they probably think (unless they’d like to wait years for the “right” buyer to come along, who is willing to grossly overpay) and
    2) convince a buyer that they probably aren’t going to get the deal of the century (unless they want to be house hunting for years)

You Listed a Home that didn’t need to be Sold – Unfortunately if you can’t convince a homeowner what the fair market value of a home is and have them understand that listing their home at anything more will scare away buyers, then you most likely have listed a home that does not need to be sold immediately. Sellers who are realistic about selling their property will understand that they can’t overprice their home or else it will sit on the market for months or even years. Most homeowners who feel an urgency to move (for a job, for more space for their growing family, for whatever reason) will be willing to accept that the home will need to be listed at a fair amount to bring a true buyer in.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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