Recent data suggest that anywhere between 40%-60% of real estate listings expire without interested buyers. And the rate at which this happens is increasing rapidly. If you’re part of this statistic and considering how to sell your property after the listing has expired, don’t worry – we can help you.
You can still sell your house after the listing has expired. However, you may need to wait at least 30 days if you don’t plan to sell with your previous listing agent. If a listing contract contains a protection clause, sellers must pay the previous broker a commission for a successful home sale. Also, if you plan to sell to a cash buyer, waiting for this period to expire is best.
Note: If a listing has been canceled, you can sell your property without waiting because the listing agreement between seller and agent has been terminated.
Listing agreements expire for many reasons. With interest rates on the rise, expired listings will increase. When this occurs, the real estate agent is no longer obligated to sell your house.
If this happens to you, before trying to sell your house again or consider selling to a cash buyer, it’s important to understand why your home didn’t sell the first time. There might be some important reasons why the listing expires, and you must figure out what those reasons are before you attempt selling your home again. Here are some major reasons why a listing expires:
Have you listed your property with a real estate agent, but the realtor could not sell your house? Maybe they didn’t show your house to enough potential buyers, didn’t market it properly, or listed your home at too high a price. Or the agent did bring some interested buyers, but still, for some reason, the transaction didn’t close – maybe the offer was too low, or the buyer had trouble securing financing. In the meantime, you were left with the house and the payments while waiting for it to sell. Eventually, you just got fed up and decided to let the listing expire.
If you’re looking into selling your house fast but want to avoid the hassle of re-listing it and waiting for a buyer, consider selling it to us at We Buy Houses Fast Chicago. We specialize in helping people like you who are ready to sell their homes quickly and easily. If your property qualifies and you’re willing to be flexible on the price and terms, we can buy it from you immediately! You won’t have to worry about wasting time or money on repairs, staging, or realtor fees. We’ll make sure you get a fair price for your home and sell it fast. So why wait? Contact us today to learn more!