An expired real estate listing is a home that was listed with a real estate agent and the home did not sell to a home buyer before the listing contract expired.
In the month of August, expired listings in Olathe, Kansas increased to 32% from July of 2007. July of 2007 saw expired listings increase 15% from the previous 12 month average. The increase could be blamed on the drop in real estate sales. That could be true; however, there are some common characteristics with listings that expired in August. Many listings involved reduced commissions, incomplete data in the system, outdated data in the system and or a lack of online marketing.
Reece and Nichols Real Estate was involved in 27% of the expired listings. Realty Executives and Keller Williams were each involved with 13% of the expired listings. New home agents and limited services agents were involved in 21% of the expired listings.
Listings expire because sometimes home sellers have unrealistic expectations, home is priced wrong, home does not show well or the home is not properly marketed.
This is a great time to sell if you plan on getting a bigger home.
Information provided by: The Dowell Taggart Team, your Kansas City Real Estate Team.