What is an Expired Listing?
This is when a Listing Contract on a property has come to the end of its life. The Realtor who has the listing contract has failed to bring the Seller an acceptable offer that the Buyers removed subjects on. I have been very successful in selling listings that have expired with other Realtors.
How Mike Stewart Gets Expired Listings Sold:
- Professional Marketing. Every listing I take gets full professional photography and videography as well a candid video I shoot myself. he list goes on.
- Downtown Vancouver Focus. I do 85% of my business in Vancouver. I know the buildings, I know the floor plans, I know Downtown Vancouver Real Estate. If I get a client who wants to buy or sell out of my area of speciality, I refer it to an area expert.
- Results. I am in the top 10% of Realtors in Greater Vancouver, a member of the Real Estate Boards Medallion Cub.
- Exposure. We have open houses every weekend until the property sells. Open Houses sell listings!
Why do Listings Expire?
Listings expire for a number of reasons:
- Hiring the wrong Realtor. It’s VERY important to use an area specialist. Hire a Realtor who knows the building and the neighbourhood. For Vancouver use a Vancouver Real Estate Specialist (Like me!) If you know more about your property than your Realtor, think twice!
- Bad marketing. Did the Realtor you hired get a professional photographer and shoot video for your property? Did they post 10 pictures on the MLS? Did they have more on their site? Does your Realtor actively market in the area where your property is located?
Did they do regular Open Houses?
- Bad tenants/lack of access. Do you have a tenant who won’t let you or your Realtor see the property? If you guys can’t see it how can a potential buyer see it? Buyers very rarely buy something they can’t see
- Your Property is not Market Ready. In this market your property needs to be looking its best to get an offer. If your suite is dirty, cluttered, messy, or empty, most buyers (they can be finicky in this market!) will pass your suite by.
- Low Commission. Realtors are motivated by financial incentives. If you are not offering a sufficient commission to buyers agents they will not prioritise your listing.
Feel free to EMAIL or call me at 604-265-9356 anytime if you have a question on Expired Listings or any other Vancouver Real Estate topic.
Want to Sell YOUR Condo in Vancouver? Questions? Check out these great Videos How to Sell a Vancouver Condo!