how long after a real estate contract expires can an owner sell privately

It’s a classic scenario: family gets excited to sell their house, the family finds and hires the first realtor they see online, realtor says he/she will sell their house quickly and for top dollar, the house sits on the market for months, contract with realtor expires, house fails to sell. Has this scenario played out for you or someone you know? Do you ever find yourself wondering why some houses sell quickly and for top dollar, while other comparable houses sit on the market for weeks and weeks and do not sell? Well, as you may have guessed by now, that is exactly what we are going to be talking about in today’s blog post. We are going to be discussing why properties expire or fail to sell, and what you can do if you or someone you know finds themselves in this scenario in sunny Myrtle Beach, SC.

what happens when a real estate contract expires

What does it mean if a property listing expires?

Before we jump into the meat and potatoes of today’s post, we first wanted to cover some basics. What does it mean if a property listing expires? It means that the property has not been sold by the end of the time period stipulated in the listing contract that was set and agreed upon between the listing real estate agent and the seller. In our blog posts, we talk quite frequently about how important it is to have a good real estate agent by your side from beginning to end. And this is another reason why it is so crucial for you to do your homework on who you are locking arms with and trusting to sell your home. The time period set in the listing contract can go by very quickly if you are not working with the right person who is educated and driven, and working day in and day out to find the right buyer for your home.

How long do I have to wait to sell my Myrtle Beach home?

What are the main reasons why properties expire or fail to sell?

There are a few main reasons why properties expire or fail to sell, and the first one we are going to touch on is the price. Overpriced homes are the number one reason why homes fail to sell, and unfortunately is one of the biggest deterrents to buyers and having a successful transaction. The price may have been set by an overzealous real estate agent, or simply because the owner believes their home to be worth more than it actually is. But it is important to understand that even the most talented agent and sophisticated marketing tactics will have a very difficult time bringing an eager buyer to the table with a home that is priced beyond what it should be. The listing will be doomed to begin with and all the advertising and marketing used to promote the property will prove to be fruitless, along with a lot of wasted energy and time. So settling the right price on the property from the beginning is crucial. 

The next reason why properties expire or fail to sell can arise from picking the wrong realtor to help sell your house/condo. Again, we have covered this topic numerous times throughout different blog posts because it is vital to understand when looking to sell your home. And we realize how tricky it can seem to find and hire on the right realtor that is going to work hard in your best interest from beginning to end. But choosing the right agent can mean selling your house quickly and for top dollar, and choosing the wrong agent can mean a lot of wasted time and energy, as well as your property still not sold once the contract with the agent is up. Which scenario would you rather have?

 

At this point, you may be asking yourself how do you know if you are picking the right real estate. And one way you can be confident in your decision is asking the realtor for a list of reviews from past clients they have worked with. This will help you be able to get a feel for how the agent works and what other people, who are just like you, have experienced with this realtor. You also want to look for a few key characteristics in the agent such as honesty and dedication, as well as the success rate of the agent on selling homes, how large their network is and how well they know the area. Do not get fooled by agents that tell you things because they know you want to hear them – make sure you are doing your homework to ensure that the agent is someone that you will be successful with.

Lastly, poor real estate marketing can attribute to a property expiring or failing to sell. This goes back to what we just talked about with finding the right real estate agent. If your property does not get the proper marketing and attention it deserves, it is not going to get in front of the right people to buy it. It is easy to just upload the listing online, but the right realtor will really know how to push and market the property so it is appealing and alluring to other buyer agents and potential buyers. Things that should be standard in this regard include incredible photography of the property, stunning video tours, and detailed descriptions that highlight the home’s best features.

Real Estate commissions after the listing has expired

What should I do if my listing has expired or failed to sell?

When you want to list your property, ideally, you would start by calling our experienced team here at Jerry Pinkas Real Estate Experts to avoid your property expiring or failing to sell with other agents. However, if you find yourself in a situation where you have tried to sell your home with one, two or even three real estate agents who could not seem to get the job done, you have come to the right place! Our team has had amazing success with people just like you, and we have sold their home or condo not only in a shorter time frame than it was on the market when it expired but also for top dollar.

How do we do it you ask? Well, here at Jerry Pinkas Realty, we utilize tools such as the Cash Offer Program and The Guaranteed Results Program, which allow us to get more buyers through your home and ultimately create more demand for your property. And as we all know, the more people that walk through and the more eyes that are on your home, the quicker it sells and more money is able to be put in your pocket! Additionally, we are the only real estate team in the Myrtle Beach, SC area that offers The Platinum Marketing Program.

Myrtle Beach real estate market outlook 2018

It is important to understand that there are three types of buyers that will potentially purchase your home or condo. They consist of in-town residents, out of town buyers, and buyers that are already working with other real estate agents. In order to get the best offer on your home, you need to make sure you are marketing on every level, especially to all of these buyers. Here at Jerry Pinkas Real Estate Experts, we guarantee to market your property for more, and in more places, as our media sources have proven to advertise properties efficiently and aggressively to a large number of qualified buyers. Our goal is to get your home sold for the most amount of money, in the shortest amount of time and with the least amount of hassle. So if you are looking to sell your home in Myrtle Beach, SC, give our team a call today. We look forward to hearing from you and working with you soon! 

 

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