Expired Listing: What It Means & What To Do About It

Selling a house or a property can seem intimidating. People usually get a listing agreement with a real estate agent to sell a property. A listing agreement is a contract between the property owner and the agent. This contract allows the agent to sell the property on the seller’s terms in a certain amount of time. But it is not that easy.

As for any contract, it has an expiring date. The property can no longer be sold if and when this listing agreement expires. So the owner is obligated to renew the contract to put the property on sale again. It sounds complicated and exhausting, but in this blog post, you’ll find ways to avoid it!

4 Reasons Not to Work With Real Estate Agents

An expired listing agreement is just one of the cons of this selling method. This list will allow you to learn about other motives why you should avoid selling your house through a real estate agent.

You’ll Spend A Lot of Money

When your property is sold, you must pay the agent a commission. Their payment represents almost 6% of the value of the selling price. It’s quite a lot of money when there are better ways to sell a property.

On the other hand, this is not the only thing you will be spending extra money on. While waiting for the house to be sold, the one that pays for holding it is the owner. If you’re looking to sell a house you no longer use, you still have to pay taxes and insurance. You will start noticing that money keeps flying away, not the other way around.

You Won’t Have A Good Mortgage Rate

Real estate agents usually work with partners, banks, and insurance companies. This indicates that they’re most likely to try to sell their services, which may add and change numbers to the expected mortgage rate. The agent’s goal is to have additional income to their commission by presenting these services to the sellers.

You Could Get Tricked On The Contract

The property owner will have to be careful before signing any contract. The terms of the agreement are defined within the document. So the homeowner should know what type of contract they’re involved in. A non-exclusive contract will allow you to ask for other agents to help sell the property, and exclusive contracts work the opposite way. 

In the future, an exclusive contract can become troublesome. If the deal doesn’t seem to work for one of the agents, it can cost money to terminate a contract before its expiring date. So it’s necessary to give it double thought before signing anything.

There Are Too Many People Involved

Banks, sellers, buyers, and agents, sound like too many parties are involved. Working with a real estate agent instantly involves more people in the mission. This means that the buyer will not be able to have total power over the sale. Therefore, the agent is the one that has more control over the project since they work as an intermediary.

Have You Heard of Cash Home Buyers?

A home buying company can come as a lifesaver in this case. Every drawback listed above indicates that homeowners should go for a cash home buyer. The term seems self-explanatory; however, it can be confusing or misunderstood. So it’s essential to get the proper definition straight. 

This type of buyer can make a cash offer for your property. They don’t need mortgages or loans to buy a home. This selling method is better and easier in every way. When an offer is made, you will get your cash in no time. 

Cash home buyers will take your house as-is, which means you can sell your house fast. You won’t have to pay for any repairs or replacements. Plus, commissions or fees are out of the table. Making a deal with cash home buyers will guarantee the owner a one-on-one sales relationship, with no more parties involved.

Skip Waiting Lists With Rex Property Group!

You won’t wait any longer with us at Rex Property Group in New Orleans, LA. Skip those stressful listing agreements. We are a family-owned business dedicated to helping property owners like you escape tricky situations. 

We will provide you with the best deal in the area. We will make it easy for you with our three-step buying process. We work with your time; whether you want to close the deal in two weeks or two months, your call. We can make a cash offer for your home within 24 hours!



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