When a listing lingers on the market, sellers often endure a long journey filled with hope, followed by disappointment as days, weeks, and even months pass by. As a result, future plans must be put on hold, and stress levels inevitably rise as the costs of maintaining the property continue to accumulate. Moreover, the longer your property remains on the market, the less likely you are to receive your desired asking price.
So, what’s the next step? If your listing agreement has expired, continue reading as we explore three actions you can take if you find yourself with an expired listing agreement in Spokane.
1. Relist Your Property
One of the initial steps you can take when your listing agreement in Spokane has expired is to consider relisting your property. Before doing so, it’s crucial to have a candid conversation with your real estate agent to understand what might have gone wrong with your previous listing. This discussion can help pinpoint the issues and allow you to develop a new strategy to achieve your goals. In some cases, unrealistic expectations may have led to the listing’s stagnation. If your agent allowed you to take control of the listing without providing guidance, it might be time to reassess your choice of agents. There can be various reasons a property doesn’t sell, including pricing that’s either too high or too low, low-quality online photos, or a property in disrepair or cluttered conditions that deter potential buyers. It’s possible that the issue was with a buyer who had numerous contingencies during negotiations or financing that fell through, leaving you with no choice but to relist. Alternatively, you can explore another option: contacting a direct buyer like SellNowSpokane. They can provide you with a guaranteed closing date and offer a fair cash price for your property in its current condition, putting an end to the waiting game.
2. Consider FSBO (For Sale By Owner)
Another option you can pursue when your listing agreement expires in Spokane is to take on the role of the agent yourself, known as “For Sale By Owner” (FSBO). While this may initially seem like a cost-effective solution since you won’t have to pay real estate commissions, the reality often differs for sellers. Statistics show that approximately 8% of FSBO listings successfully sell, and these listings typically yield a final sales price about 26% lower than those represented by agents. However, you might be surprised to learn that by selling directly to a local direct buyer like SellNowSpokane, you can avoid commissions, closing costs, and any hidden fees that could catch you off guard during the closing process.
3. Explore SellNowSpokane as a Solution
Working with a direct buyer from SellNowSpokane means collaborating with local professional investors who genuinely care about your future and the future of Spokane. At SellNowSpokane, we prioritize complete transparency. Your direct buyer from SellNowSpokane will provide you with a comprehensive breakdown of how they arrived at their valuation, allowing you to compare it to a traditional MLS listing and decide which selling method suits your circumstances best. If listing your property is the superior choice, your direct buyer from SellNowSpokane will advise you accordingly because our goal is to help you maximize your profits. We take pride in our work at SellNowSpokane and want you to feel satisfied with the deal long after the closing is complete.
In summary, when faced with an expired listing agreement in Spokane, the best course of action is to reach out to SellNowSpokane at (509) 596-1216. We are here to assist you.