My Austin House Didn't Sell. Now What!?

By
Real Estate Agent with Keller Williams Realty

Frusted seller.  My house didn't sell, now what?  Expired listing.My Austin house didn't sell.  Now what?  Unfortunately, more people are asking this VERY question than I'd care to admit.  In fact, as of this posting, over 4,500 properties have 'expired' off of the market in the greater Austin-Round Rock area this year, and we still have about a month and a half of the year left!  So as you can see, you're sadly not alone.

At one point you were excited to sell, you hired the agent you trusted to get the job done, you put the house on the market and did your job in keeping it show-ready and clean for months.  All of this of course, in anticipation that you'd get an acceptable offer, enabling you to move forward with your goals and dreams.  Except that day didn't come and all of a sudden you're getting tons of calls from a bunch of Superstar REALTORS® claiming "I can sell your house," "I'm the neighborhood specialist," "I have a buyer for your house," "I know why it didn't sell," "My marketing is the best," and on, and on, and on... Sheesh, that can be annoying, can't it? 

I know what you're thinking, because many of my clients who were once in your same exact position, their house having sat on the market and not sold, reiterated the sentiments they had at the time: Where were all these agents when my house was on the market!?

It's true that the market we're currently experiencing certainly isn't the best of markets, and it can definitely be a frustrating and emotional process to most sellers today.  And it's important to realize that there is still hope, as a record number of homes continue to sell in Austin, Texas. 

First things first: take a moment to relax and reflect... and take as long as you need.  And remember, that selling your house is a business transaction, and as such is one that requires logical decisions that ultimately will ensure that your goal of getting it sold in the quickest amount of time for the highest amount of money possible with the least amount of hassles is met.  Which is what you wanted the first go 'round, wasn't it?

So  feel comfortable to release yourself from the burden of all the emotions involved in this process; it really can be and should be the other way around.  Once that's done, all that you need to do is simply  take action towards maximizing your equity position in the sale of your property.

The very first thing I recommend you do at this point in the process is review the performance of your current agent.  Did your agent give you an accurate and detailed pricing strategy from the beginning?  Did they market the property as promised to all the agents and the most buyers possible who are looking for your property?  Did they stay in frequent communication with you, always updating you on the current market conditions?  Did they provide you the brutally honest feedback from the market, even if it was sometimes hard to hear?  Ultimately, are you satisfied with the results you've received?

The second thing I recommend is that you review your motivation to move and sell your house.  You would be surprised by how many sellers I speak to whose house didn't sell say things like, "we don't really know where we wanted to go or why we were selling," or "my husband is the one who really wants to sell this thing and I want to stay," or "we don't really need to sell or move."  The other most common thing I hear is, "well we received a couple offers, but they wouldn't come up to our price!"  Does this sound like you?  Ouch!  And now 6 months later in the declining market, essentially that seller has given up on their dream of moving; that's gotta hurt, doesn't it?

Finally, it's okay to decide to  interview other agents for the job to actually get it sold.  The reality is that not all agents are created equal.  And what better opportunity to get a second opinion and a new set of eyes and ideas in order to help ensure you're making the right decision this time around?  Certainly if you went to the doctor and were told you had a terrible disease that needed a major operation you'd go for a second opinion... that's exactly the case here.

Your agent may very well have done their utmost in order to sell your property.  And yet, it didn't sell and the longer your property sits and doesn't sell, the less buyers will show up, the lower the offers you'll get, and the worse off your financial situation will be.  So don't feel bad that you are going for a second opinion; perhaps you'll have a major AH-HA in why it didn't sell the first time.  In fact, I recommend you interview several agents.  And look at it this way: if nothing else, you'll have a few more agents who now know more about your house.

Most importantly... STAY OPTIMISTIC and don't give up!  A properly marketed property (say that 10x fast!) in the right condition, listed with a powerful agent will sell and I trust that this post will be the spark that re-ignites your enthusiasm to make that dream of selling a REALITY!  And it would be my pleasure to help in any way I can through a no-obligation consultation when the time is right.

Posted by

Terronald Logan, REALTOR ®
Member, Luxury Homes by Keller Williams
Keller Williams Realty


Call me today at 512-532-5601 to get your house sold.

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Terronald Logan is a happily licensed REALTOR® in the state of Texas.  Each Keller Williams Realty office is independently owned and operated.

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Topic:
ActiveRain Community
Groups:
Advice for Sellers
Diary of a Realtor
Learn to be a Top Producing Listing Agent
Realtors®
Texas Rocks!
Tags:
seller advice
expired listing
didnt sell
advice
interviewing agents
new agent
selling
selling a house

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Rainmaker
956,008
Endre Barath, Jr.
Realtor - Los Angeles Home Sales 310.486.1002
Berkshire Hathaway HomeServices

Terronald, Congrats your post is the best advice I have seen in a while to sellers who's home did not sell in the first six months. Hopefully their Realtor gave them the absorption rate and they priced it strategically.

November 21, 2011 09:29 PM
Ambassador
415,252
Stacey Smith
Your Orange County Beach Cities Realtor
Harcourt's Prime Properties

Awesome post T-Dawg!! :) Great advice to sellers and very nicely said!! :)

November 21, 2011 09:44 PM
Rainmaker
236,631
Lise Howe
Assoc. Broker and Attorney Licensed in DC, MD, VA,
Keller Williams Capital Properties
I love this post. It is a great thought process for agents who want to work with expireds because it puts up several topics for conversation!
November 22, 2011 06:25 AM
Rainmaker
461,136
Maggie McFarland
Pearland Realtor, Homes for Sale in Pearland Texas
RE/MAX Pearland - Maggie McFarland

GREAT post! You've shared some awesome advice! Have a great day!

November 22, 2011 10:36 PM
Rainer
18,049
Terronald Logan
Realtor, Homes for Sale - Austin, Texas
Keller Williams Realty

Thanks so much guys!  Glad to contribute!  :-)

November 25, 2011 08:00 PM
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Rainer
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Terronald Logan

Realtor, Homes for Sale - Austin, Texas
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Living Out Loud in Austin with REALTOR® Terronald Logan of Keller Williams Realty is an online resource for life enthusiasts, fans of the beautiful Lone Star Capital, and potential home buyers and sellers needing a trusted source for everything real estate in Austin and surrounding areas.