If the listing is being shown often and the feedback is positive, but it hasn't sold, it probably needs a price fine tunning.  The market is sending you a message, and is up to you as a seller-agent team to listen to it and do something about it.  I would advice the sellers to make a price adjustment immediately.  If they are smart they will see that it is worth re-listing with you since you are constantly monitoring the market.

I have to agree with Lorna. It is usually that the price is still too high.

I have had a few expire and let them go because the seller was so adement that they were going to get their price or else. Spending thousands on advertising and understanding the market. There is now way they would sell at that price while the market is declining. I just can't justify throwing more money away. 2 of those listings are still listed 12 months later at the same price....."You gotta know when to hold them and know when to fold them".

Ed

The the vote is in. Probably the price! If shows well and the feedback is good, then the only thing left is price and/or location and you can't fix location.

With all of that said... how do you move past the client who can't budge any further on the price?

Mr. and Mrs. Seller:

Have I explained to you the many advantages of the auction method of marketing and sale? Prepare to be amazed.

I have had a couple lately expire with the same scenario. Lots of showings, beautiful home and priced properly to the comparables. I have marketed very well, but still has not sold. The market is in a changing status here in Southern California and sometimes the sellers just are not reasonable. I have found that the attitudes of sellers are still behind about 1-2 years thinking. You can do everthing you can, but if they won't budge, there isn't much you can do. Just keep at it and try to get it re-listed, hopefully they will come to reality and lower to what the public will pay for the home. That is ultimately what your home is worth. Comps are just a guide. Good Luck.

I usually have a heart to heart with the seller about why they want to sell, if they are really interested in selling then LOWER THE PRICE or I cannot take the relisting. Ed put it best... ...know when to hold, etc...

I know that the slower market makes it easier to take the listing but you are just wasting your time, money and effort.

Are you collecting feedback from the agents who are showing the property?  This might give you and your client what might be wrong - for a free service go to showingfeedback.com.  

Diana I have seen some ads for auction style selling, but never got to sending them the big bucks to see how this works.  If you want to enlighten us I am listening :)

Jana

Robin, good question as I have one to expire in two days.  The house was overpriced.  The furnace was inadequate and not working properly so it ticked during the open houses.  The hot water tank came over on the Mayflower and the seller removed the duct work for venting the hot water tank so there was carbon monoxide running through the house.  No heat source for the bedroom basement.  The husband did alot of work on the house but those items just kept killing all interest.  Interestingly, they are now going to sell it By Owner and have or are making the changes now so it will sell.  I spent a tremendous amount of money marketing that home - papers, tour factory, single property sites, Realtor.com, food at open houses, $250 on each Broker's Open, flyers at the house in front of the gate, flyers for distribution, post cards, pay per click placement ..... I did it all but one thing ... I forgot to realize that the seller was not actually motivated to sell otherwise, he would have considered doing those repairs.  I spent time, energies and monies to get his house sold and to get the traffic into the house.  So, what do you say when the listing expires?  

Thanks,

Barb Van

Robin,

When you do your CMA, go beyond just the neighborhood and act as if you had the buyer and were looking for something for your client. What is the competition outside those boundaries................ those people who saw the house, what and where did they end up purchasing?

You don't want to be the best of the range because you end up helping sell the ones in the middle of the range!!!

Sagine

www.Auctioneers.org

Auctions can work wonders depending on your seller & the property.

If you have a seller who is not motivated & flexible do not bother.

I am an Auctioneer & Real Estate Broker we have sold many properties at auction.

What I like best: It’s all cash, No contingencies, & it closes in 30 days.

A couple of years ago we sold 90 acres with an appraised value of $49 - $50 K for $110K at auction. The appraiser was wrong needless to say.

Matt Smith

More information on auctions is available on www.auctioneers.org.

Also, Realtor.com has a section with good summaries on the auction method of selling real estate.

All auctioneers work slightly differently. You're welcome to check out my basic model at www.AuctionsAndOptions.com. We've trademarked the name and are preparing to license this option to brokers in other locations who want to add the auction method to their toolbox for sellers in need.

Most progressive brokers will offer this service -- if you don't want to BE an auctioneer/broker, you can find one you like to partner with. The seller gets two teams moving their property in a short amount of time. It's a win-win.