How to Sell Your Home After Your Listing Expires Los Angeles
Sell Your Home After Your Realtor Contract Expires Los Angeles
Did you list your property with a Los Angeles Real Estate Agent, but the Listing expired before selling?
If you're wondering how to sell your home after your Realtor contract Expires, we can help.
Sell your house after your listing Expires Los Angeles, without a new REALTOR®.
When you list your home on the MLS (Multiple Listings Service), the listing has a certain time period in which you have to sell it before it becomes expired.
An Expired listing is different from a Withdrawn listing.
We buy Los Angeles houses after your listing Expires, or is Withdrawn.
Expired Listing vs. Withdrawn Listing: How It Works in Los Angeles Real Estate
Understanding a Withdrawn Listing: Los Angeles Real Estate Knowledge
A Withdrawn listing occurs when you actually choose to take your property off of the market --- cancelling your Listing with the Real Estate Agent & having it removed from the MLS.
When/if you fire your current Agent, you should make sure to request a Cancellation of the Listing and Listing Agreement with proof of the Cancellation.
Failure to do so might mean your Listing remains active on the MLS, even though your intention was to have the Listing Withdrawn.
Understanding an Expired Listing: Los Angeles Real Estate Knowledge
When your MLS Listing becomes Expired, it is because the Listing Agreement between you & your Agent has reached its duration... but your house still hasn't sold.
An Expired Listing is never the most pleasant experience, since it means your home is taking longer to sell than you originally anticipated.
There are many possible reasons for why your Listing has Expired, which we'll discuss below.
What's important to understand once the Listing does Expire:
To other Real Estate Agents, this essentially puts your Listing "up for grabs."
They know you want(ed?) to sell your house, they know it didn't work out for you, and so they'll be circling like vultures.
If you have an Expired Listing as a Seller, you probably are receiving phone calls from other Los Angeles Real Estate Agents wanting to sell your home for you.
Now, if you like your Agent and think the reasons your home hasn't sold yet are outside of his/her control, the most common option to extend your Listing Agreement with him/her.
However, if not, but you still plan to sell a Los Angeles house when your Listing has Expired,
Now is the time to weigh your options.
Take your time, don't make a hasty decision.
Why did my Los Angeles Real Estate Listing Expire?
Now that you know how a listing becomes expired, let's talk about WHY this might have happened.
In other words:
What factors prevented your Los Angeles home from selling in a timely manner?
There are plenty of ways to dissect this, but no matter what approach you take, you must be honest with yourself.
This can be tough, because you might have to admit to yourself that you made a mistake.
You'll probably realize that either you or your Real Estate Agent did something wrong.
Often times this requires you to hold yourself accountable.
Factors You Can Control to Ensure Your Los Angeles House Sells Faster Now
Below are a few factors that you, yourself, can influence & control to help make sure your Los Angeles Expired Listing sells faster this time around.
If you'd like to skip the hassle & get the place sold fast, in as is condition, for cash:
If you're thinking about ways to sell your Expired Listing faster the next time around, consider:
• What Is the Condition of the Home?
Make sure everything that needs repair is taken care of. This not only makes the home more attractive but can also add value.
More importantly: you only get once chance to make a first impression.
If your house is outdated, in need of repairs, or simply messy or chaotic... you are losing potential Buyers.
Make sure the exterior of the home is --- and stays --- clean and trimmed for the entire time it is Listed for Sale. This includes siding, decks, landscaping, etc.
The outside of the house is the first thing a buyer sees in a showing or open house.
Curb appeal matters!
• What Kind of Feedback Have You Been Receiving?
Did you actively consider this feedback, or make changes accordingly?
Take notes on any feedback you receive. Most of the time it will be constructive and will only help you Sell your home.
Depending upon your home's location & approximate price range, you'll notice different demographics will have different feedback.
Take to heart what people tell you.
Sometimes a prospective Buyer will be totally outlandish, demanding ridiculous & impractical improvements...
But especially if you hear certain feedback multiple times from a variety of different people, you need to be willing to adjust your home selling approach to meet the market demand.
• Did You Hire the Right Real Estate Agent?
Is your Real Estate Agent familiar with your neighborhood, with comparable recent sales to prove it?
Have they done a good job showing & selling your home?
It's obviously possible that your Real Estate Agent did everything in their power, and everything that any qualified professional would have done, but the house still didn't sell in time.
Sometimes it's nobody's fault. But other times, let's just say...
Not every Real Estate Agent is created equal!
Far too many home Sellers don't invest enough time in picking the right Los Angeles Real Estate Agent.
Plenty of Real Estate Agents are about as dumb as a box of rocks, with the track record to back it up.
Few Real Estate Agents dominate, as the local Top Producers, because they are just so much better than the average that the rest can't compete.
This is the type of Agent you want to work with!
No two are the same, so make sure you choose a REALTOR® who is easy to work with, knowledgeable, and experienced in your type of sale.
Interview multiple Real Estate Agents before hiring one.
Remember that you are trusting this person to handle the largest asset you own (more than likely).
Do your due diligence and pick a Los Angeles Real Estate Agent you can trust to do what they say and get the house sold.
• Was Your Asking Price Reasonable?
One of the most common reasons a Listing Expires is:
The price was too high, scaring off Buyers.
Maybe you lowered the price too little, too late. Buyers saw this, figured something was wrong with the place, and never scheduled a Showing.
This can be hard to come to terms with, but:
As a home owner, you'll naturally tend to OVERVALUE your home.
You have so many memories & emotional investments into this property, it will always be difficult to accurately assess your own home's value.
This is why it's so critical to work with the right Los Angeles Real Estate Agent who will give you a no-B.S. assessment & list your home at a price that is reasonable.
You need to think like the Buyer, and ask yourself:
Would I buy it at this price?
The Asking Price has the power to repel all potential Buyers, or get your house sold fast, in matter of days.
• Did you do enough effective marketing?
The real estate industry is evolving and it is vital that you capitalize on the opportunities available.
For example, you might be scrolling through a listing site and see that the homes that catch your attention have the best writing, pictures, and videos.
"Videos? Sounds expensive."
All of this obviously comes at a price, but you have to think about whether or not it is worth the investment.
If you have an expired listing and can afford these marketing tactics, by all means, pay someone to do it for you.
Factors that Caused Your Home to Become an Expired Listing Outside of Your Control
If you read the points above and said to yourself, "I took care of these things! Why won't my house sell?" then don't worry, you could just be getting unlucky.
Maybe unlucky is not the right term to describe your case, but let's dive deeper into why you are getting "unlucky."
If it's not your fault, it has to be someone's right?
There are three explanations left as to why your home did not sell:
• Your agent is not working hard or smart enough.
This was covered before, but sometimes you just can't control some characteristics of your agent.
For example, you might be thinking, "But I hired the top realtor in my area!"
That could be the exact problem.
A lot of times top realtors have a lot on their plate, restraining them from focusing on just one listing at a time.
These top agents have made plenty of money in their day, so there is a chance that they are not very motivated to sell.
Good news! Since your contract with your agent has expired, you have the option to work with someone else who has more motivation to sell.
• The location of your house is in a tough area to sell in.
Sometimes a house can be in an area that is not very attractive, even though the house might be beautiful.
The best move to make here is to hire an agent that specializes either in your area, or areas that are hard to sell in.
• The home-buying market is not "hot" right now.
This one is totally out of the reach of both the REALTOR® and yourself. The housing market is like the stock market in that it fluctuates over time. You may have times where tons of people are looking to buy, and periods where you won't receive a phone call for a month.
You may have times where tons of people are looking to buy, and periods where you won't receive a phone call for a month.
This is a natural economic force that can hold you back from selling your house in a timely manner.
Sell your home after your listing expires: In conclusion...
The most important thing in this process is to not get discouraged; keep moving forward.
Take the information above and apply it when it is time to get back to selling.
Now that you have valuable tips on why your listing expired and how to correct it, you should be far better prepared to list your home on the MLS next time around and close the deal!