Why do listings expire and what to do next time?
Hey, this is Nathan Lilly with Conner real estate here in central West Tennessee. Just wanted to make a real quick video on why do listings expire and what to do next time. So there's really two main reasons that listings expire. Number one, your house is overpriced. It's what most sellers do not want to hear. Maybe your agent has been telling you for the last three months that we really need to price drop. We really need a price drop. We really need a price drop. And why? Because a property is ultimately worth what a buyer will pay. You may say your property is worth theoretically one hundred thousand dollars and you swear it's worth a hundred thousand dollars because it may not cost or it may cost more to build the house than a hundred thousand. Or you say your insurance replacement value is one hundred thousand dollars. You're getting this number from somewhere. But when your property is is own the market and it is presented well, which is what gets my number two in a minute on that. But your property is presented well and you're especially if you're getting a lot of showings, like if you're getting a lot of showings and your property is not selling that it's overpriced or vice versa, you're not getting any showings. Maybe you've had it on the market for three weeks and you may have had one or two showings. And in this crazy market that we're in right now, super strong sellers market, there is something wrong, something really wrong, especially in this market and chances are your property is overpriced, even if you have a property that's really distressed. There's major problems. Or maybe there are small problems, but they're very apparent problems your property will still sell. It's just got to be priced right. It's got to be priced at a point where a buyer is willing to pay that much for the property and when it's on the market, it's out there. If people are looking, they see it. It's like going to Walmart and you see what's on the shelf at that point, it's on the shelf. If people are shopping and they see it. Number two, your agent is not marketing your property well. So there's one other than pricing. There's another major component that most agents will not tell you that really helps to sell your property the most other than pricing. Pricing is number one. Number two is the pictures, the photography on your house. These days, buyers are shopping online. They're just scrolling on Zillow, Realtor.com and the prettiest pictures get the most clicks. It's just like click bait that the prettiest main picture gets the most clicks. The more clicks, the more showings, the more showings, the more likely that your house is going to sell. So make sure that you have also photography if you're agents running around with his cell phone taking pictures. That's a very bad sign, very bad sign. or even if they personally take pictures, they're there like I do not take my own photography. Because I'm not a photographer. I'm a realtor. I think I take really good pictures. But at the same time, I'm not at the level of my photographer, which is absolutely amazing. So there's the photography with your property, which is huge with marketing. Make sure it's on all the major websites Zillow, Realtor.com and number two, make sure that your agent is proactively trying to sell your property. They're not just putting a sign in the yard, putting a lock box on the door, put it on the market and wait for their phone to ring. That is what I call a lazy agent. I'm primarily a listing based agent because my marketing is just super amazing. And number two, I proactively try to sell the property. A great listing agent is going to do both. I'm not just going to do one or not or they're not just go proactively, try to sell or just market. They're going to do both. When you do both as the perfect storm and you're trying to sell this property for the most money as the listing agent when you put your property on the market. My name is Nathan Lilly. I work seven days a week. I'm a local realtor here in central West Tennessee. My information will be below if you need anything at all or reach out any time I have a wonderful day.