Do You Know The Real Reason Why Your Home Listing Was Cancelled?

I absolutely love talking to homeowners whose listing was cancelled with a REALTOR®.  This is a genuine teaching (or should I say learning) moment as we’re always learning right?

Some of the reasons may elude the homeowner and some they may be aware of and frustrate sellers.  It is the REALTORS’s responsibility to guide our customers through the buying and selling process while managing emotions and stress to accomplish our customers’ home goals.

Perhaps the home was not actually ready to be on the market and it was listed anyways?

Was the home priced intelligently and competitively?

Maybe there wasn’t enough interest in the home for one reason or another due to inadequate listing and marketing?

Or maybe… just maybe… you had an unpleasant experience with your REALTOR®?

Let’s take a deeper dive into the most common reasons a home’s listing is cancelled in the MLS.

#1 – Reconditioning

Recondition or stage the home if needed.  We are the only broker in the world that has a reconditioning program called Realvitalize.  With no initial out-of-pocket costs to you, you can use this program to clean, repaid and remodel your home as needed and defer payment until closing.  Any repairs made will most certainly help the sale of the home and pay for themselves when it’s time to close.

#2 – Price the home correctly.

One of the main reasons home do not sell is pricing.  More times than not a home is overpriced.  This is why we have numerous tools at our disposal to compare your property to other similar properties that allow us to “intelligently price” your home.  Your home should be priced around the average price of similar comparable properties in order to attract more potential buyers then inherently this should push the selling price up.  If you price your home too high then you run the risk of it staying on the market longer and potential buyers may wonder if there is anything wrong with the property when a simple price reduction can get you back on track.  Your REALTOR® should price it correctly at the beginning, but if a price reduction is necessary, you should compare the “carrying costs” of paying for your home for months upon months as compared to said price reduction.

#3 – List and market the home properly.

Having a desirable home is not enough.  The home’s description should be comprehensive detailing land site, interior, exterior, neighborhood and community features.  Reconciling this information with county tax information and MLS data to ensure accuracy is important.  There is a lot of preparation that goes into the proper preparation and marketing of the home including any special considerations needed by the seller.

#4 – Bad experience with a REALTOR®

First, I’m so sorry you’ve had a bad experience with a REALTOR®.  Unfortunately, there are professionals in every industry that are a poor representative of their profession.  This can be solved and easily avoided though.  Ask your friends, family and co-workers for references then interview several of them.

All of these things can be avoided if a buyer or seller does their homework up front i.e. preparation is key.  In other words…

• Ask your friends, family, neighbors and coworkers for REALTOR® references then interview them extensively.
• Educate yourself on the buying and selling process and ask your REALTOR® to do the same.
• Know your home goal wants, needs and preferences.
• Get your finances in order for pre-approval and DO NOT change jobs, buy anything big (including 0% financing) or pay off anything just yet. Your REALTOR® and lender can walk you through the Do’s and Don’ts.
• Establish communication preferences with your REALTOR®.

The home buying and selling process can be stressful, but it doesn’t have to be.  As the boy scouts would say… “be prepared” and everything will work out just fine or at the very least with fewer hiccups.

Buying and selling a home should be an exciting experience.  And my team and I will work very hard to give you an exceptional customer experience while accomplishing your home goals and please don’t hesitate to give me a call if you have any questions.

Thank you for considering Coldwell banker and hope you have a great day!

P.S. And if this blog has left you open to the opportunity of using Coldwell Banker to sell your home then you’ll want to read this blog by clicking HERE.