Expired. What an interesting term we use in real estate to mean a listing has come to an end. The contract between the listing broker and seller is no longer in effect. They might choose to live in the house and give up the idea of selling. They might continue living in it and go on the market at a later date. The seller might re-list with the same Realtor and come on as a new listing, or the seller might elect to list with a different Realtor. A house can expire for several reasons. 1) The listing was short and not enough time was given to sell the property in the existing market conditions. 2) The condition of the property was never corrected so that it met buyer expectations. 3) The price was not adjusted to meet market conditions. A seller who really wants to sell can sell in this market, if they meet with a Realtor who knows their neighborhood and has experience in selling in this kind of market. A Realtor who has 15+ years of experience will know how to sell in a down market. An agent who has been selling for five years is at a disadvantage as they have known only fast markets. Look for a Realtor who is honest with you and not trying to buy your listing. Right now agents do not need one more un-sellable house in their inventory. A listing agent who tells you the orange kitchen has to go is better than your former agent who told you it was "interesting." The agent, who tells you the freeway sounds like the waves of the ocean pounding on the beach, is a bigger problem than living next to the freeway. The Realtor who says," Let’s try it as the same price you had it listed at," is legally insane. He is doing the same thing over and over but expecting a different outcome. I’m not that Realtor looking for "road kill" That is the seller who has been run over by the tough market and can’t be revived. I do welcome meeting with sellers who want a fresh approach to selling and who will work with me to get the sold sign up. No listing needs to expire, but they do because of lack of effort on the parts of many parties.
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