Expired Listings

The Top 10 Reasons Why Your Home Didn’t Sell

Potential Problem 1: Market Conditions

“Supply and Demand‟ will frame the buying and selling environment. This determines value. Of the 12 reasons, this is the one that you can’t control. Only time can neutralize supply and demand.

Potential Problem 2: Price

Improperly priced due to unrealistic seller expectation or inaccurate Comparative Market Analysis (CMA)
Unrealistic expectations

Potential Problem 3: The home isn’t mapped in the MLS system.

Many agents search for properties in the agent-only section of the MLS via the “Mapping” feature.
When the home is being data entered into the MLS, one typo or not checking the “geo-coding” can cause your home not to show up to the agent.
If someone is searching for a home via the Geo-Coding/Mapping feature, and you’re home isn’t mapping correctly, it will not be found…period!

Potential Problem 4: The photos and the description on the MLS do not represent the property.

Buyers are “stalking” home on the net first.
How many photos of your home were on the MLS? You can have up to 25
Photos taken with a built-in camera on phone (Red Flag if this happens)
Photo quality is poor, too small, not enough resolution for large shots
Bad angle shots, clutter in family and bedroom photos, garage
No wide angle shots
Bathroom photos (unless you have a large bathroom, NO, NO, NO)
No description of rooms under the photos or default description
Poor description of home, basic information. (What separates your home from others in the same price range?)

Potential Problem 5: Square footage, bedroom numbers or bathroom totals were incorrectly entered.

The inaccurate information of any of these will turn an agent away as well as a potential buyer if they are overstated

Potential Problem 6: Property Condition

Potential Problem 7: Lack of Staging

Too much “stuff”
Furniture not positioned in a layout for best traffic pattern and/or aesthetic functionality

Potential Problem 8: The narrative and wording isn’t present or at best poorly worded.

In the MLS, agents can enter “Remarks” that the consumers see on all the websites, the text areas failed to tell your story
The description field in the MLS system is a very important in advertising, and one that should be scrutinized as highly as other data on the listing. Misleading information will spread like wildfire to other agents

Potential Problem 9: The buyers’ agents’ can’t get in!

The showing instructions are to see the listing agent only. Not a problem if you can get in touch with the agent. The agent could be on the beach, on the golf course, in the boat etc. and not answering the phone
The key is not in the lock box.

Potential Problem 10: Marketing

Not enough exposure to other agents
Limited information on MLS i.e.; pictures, room sizes, area attractions, recreation
None or too few open houses
Marketing the same in 2011 as in 2008
Too few websites linked to
No individual website with own domain name
No strategic keywords for search engine optimization
No paid search terms
No area information to keep prospect on site
No full screen slideshow
No virtual tour
Lack of national brand advertising
Lack of updated listing technology. We are living in a mobile society. If your listing is not compatible

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