When a listing lingers on the market, sellers experience a long road of hopeful anticipation followed by disappointment as the days, weeks, and months pass. As a result, plans for the future must hold, and stress levels have likely risen as costs for holding onto the property continue to roll in like the tides. Furthermore, the more days your property is listed on the market, the less likely you will receive your asking price.
So now what? If your listing agreement has expired, read on as we explore three actions you can take if you have an expired listing agreement in Southern California.
One of the actions you can take when you have an expired listing agreement in Southern California is to relist. First, however, you should talk to your real estate agent about what may have gone wrong with your listing unless, of course, the problem was communicating with your agent. It’s helpful if you can pinpoint the issue with your listing and create a new strategy to achieve your goal. If you had unrealistic expectations and your agent placated you by allowing you to take the driver’s seat with the listing, it’s time to reassess agents. There are many reasons a listing doesn’t move; typically, the pricing is too high or too low, the online photos are of poor quality, and the home is in a state of disrepair or cluttered, causing a majority of buyers to pass by the listing. Perhaps the issue was a buyer who had a lot of contingencies that you could not work with during negotiations or a buyer with financing that fell out from under them, wasting your time and leaving you in the position of needing to relist. Another option for your consideration is to reach out to a direct buyer, like those at Homesmith Group, who can provide you a guaranteed closing date and bring your misery of waiting to an end with a cash offer for your home as-is that you’ll agree is fair.
Another action you can take when you have an expired listing agreement in Southern California is to take on the role of agent yourself. While this may seem like a money-saving solution because you’ll be keeping those high real estate commissions for yourself; however, it rarely works out this way for sellers. Of the approximately 8% of FSBO or for sale by owner listings that sell, the final sales price is typically around 26% less than those listed by agents. Did you know, however, that by selling directly to a local direct buyer like those at Homesmith Group, you won’t pay any commissions or closing costs, and there won’t be any hidden fees to surprise you at closing either?
Working with a direct buyer from Homesmith Group means working with local professional investors who care about your future and the future of Southern California. At Homesmith Group, we believe in total transparency. Therefore, your direct buyer from Homesmith Group will provide you with the full details on how they calculated the numbers and outline how much your home should sell for on the MLS with a listing to compare and decide which sales method is best for your circumstances. If a listing is the better option, your direct buyer from Homesmith Group will say so because we want you to earn the highest profits. We’re proud of our work at Homesmith Group and want you to feel good about the deal long after leaving the closing table.