In this highly competitive market real estate agents jump on expired listings. So, when your listing expires you can expect a flood of calls from real estate agents eager to win your listing starting the morning your listing expires or gets canceled. Unfortunately, this is going to be a vulnerable time for you because you are probably not happy with the real estate agent you’ve been working with over the past few months and are ready to make a fresh start with a new real estate agent but don’t want to make the same mistake of picking an agent that can not sell your house a second time.
Expect calls from lying real estate agents trying to weasel their way into your home to steal away your listing. Failure to see through their lies may result in hiring a real estate agent that you will not be happy with. Here are a few of the most common lies you’ll hear from real estate agents when your listing expires.
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Imagine this scenario. It’s been 120 days since your agent put a for sale sign in your yard. On the day you hired your Realtor, she promised it would be a successful working relationship. Weeks later, this “relationship” somehow turned into a “one-night stand.” She doesn’t return your phone calls, she never drops by and now there’s a bird’s nest occupying the empty Info Box that use to hold your house’s brochures so many months ago.
According to the book Freakonomics, written by Stephen Dubner and Steven Levitt, real estate agents sell their own homes for 3% more compared to what they get when they sell their client’s houses. The authors suggest dishonesty and double-standards as the reasons for this finding, but I think there’s a more honest reason why Realtors may be able to get a higher selling price for their homes compared to their clients’.
Due to the anti-real estate agent sentiment and the promise of saving lots of money, selling as a FSBO seller has never been more popular. Over the past 10 years, selling the home yourself, or FSBO (For Sale By Owner), became popular and marketing companies selling FSBO kits and promotional materials have quickly cashed in on the craze. Internet shopping for homes has increased in popularity and it’s much easier now for the do-it-yourself home seller to promote their own house. But I don’t think that’s the reason FSBOs became popular.