The Real Estate Encyclopedia
My Listing Is About To Expire. Should I Select A New Agent?
Category - Home Selling Questions - Agent, Offer & Commissions FAQ's

If your listing is about to expire you first want to research the reasons why your home did not sell by enlisting the help of your listing agent.  Chances are your home was on the market for close to 90 days and should have sold.

 

Very often, the reason why a home does not sell is related to the asking price.  However, there can be other reasons why your home does not compare favorably to other homes, which have sold, which must be addressed.  Your agent should run a comparable analysis of homes, which have sold during your listing period, which will help you identify the reasons, why your home did not sell.  If you are satisfied with your agent and you have good rapport with her/him, you would do well in re-listing with the same agent. 

 

If you feel your agent has not provided the services promised at the time the home was listed, you have every right to find a new agent.  Once the listing term (shown on the listing agreement) expires, the seller is free to negotiate a new listing agreement with a different brokerage or agent.  The seller must be aware of any clauses protecting the exiting agent regarding a commission owed.  These typically have to do with the property being sold to a buyer who visited the home during that agentís listing period. 

 

Many sellers whose properties expire identify agents who showed their home and assign the listing to an agent who repeatedly brought prospective buyers in the past.  The reason for this is the agent has proven he/she is actively working with buyers in the area and likes the home enough to become an excellent spokesperson. 

 

At the time the seller interviews the new agent, he/she should enquire as to the reasons why the new agentís past clients decided against their home.  Very often, the reason was financial which will lead to the asking price discussion.  Real estate wisdom confirms that every home will sell for the right price.  If the issues are of a cosmetic or structural nature, the seller must consider correcting these.  Prospective buyersí and agentsí feedback should never be ignored, especially if the feedback re-occurs or becomes a repetitive theme (price, odors, carpet color, curb appeal, etc.)

 
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Home Selling Questions - Agent, Offer & Commissions FAQ's
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