What to Do When The Listing For Your Home is About to Expire?

Your home did not sell and your listing agreement is about to expire and you must decide what to do when your home listing is about to expire.  Here are the options you have:

• Take their house off the market (OTM) 
• For Sale by Owner (FSBO)
• Relist it again with the same agent
• List with a different agent

Take Your House off the Market

You are probably upset that your home did not sell and you may think that the buyers who are on the market think your home is not worthy of the sales price.  So you may rationalize that you really didn't want to sell the home in the first place and therefore it's just makes sense to take the home off the market.

This may not be the best decision to make at this time.  Consider why you wanted to sell in the first place, and just because the home didn't sell during the last listing contract doesn't mean the house will never sell or that the house should not be sold.

Go it Alone as For Sale by Owner

You may now believe that listing your house with an agent is useless because your original agent didn’t accomplish the goal of selling the house. Trying to sell the house on your own this time may be alluring. You may think you will be in control and save on the commission.

But, is that true? Will you be able to negotiate each of the elements that make up a real estate transaction? Are you capable of putting together a comprehensive marketing plan? Do people who FSBO actually ‘net’ more money?

If you are thinking about FSBOing, take the time to first read: Are You Thinking About FSBO? Think Again.

Re-List with my Existing Agent

For whatever reason, your house did not sell. Perhaps you now realize how difficult selling a house may be or that the listing price was too high, or perhaps you’re now acknowledging that you didn’t exactly listen to your agent’s advice.

If that is the case, you may want to give your existing agent a second chance. That’s a perfectly okay thing to do.

However, if your agent didn’t perform to the standard they promised when they listed your home you may want to try a different agent.

List with a New Agent

After failing to sell your home, you may no longer trust your agent or what they say. However, don’t paint all real estate professionals with that same brush.

There is good and bad in every profession—good and bad hair stylists, agents, teachers, lawyers, doctors, police officers, etc. And just because there are good and bad in every line of work doesn’t mean you don’t call on others for the products and services you need. You still get your haircut, see a doctor, talk to a lawyer, send your kids to school, etc.