It's common to feel a blend of frustration and disappointment if your listing expired without selling. During this time, you may be contemplating what went amiss and what steps to take next.

If you're still planning to move and eager to relist your property, here are a few factors to keep in mind.

Was It Priced for Today’s Market?

Setting the right price from the start is crucial. It can be tempting to aim high initially, but that approach can significantly delay the selling process. If your home was priced above similar properties, it may have deterred potential buyers, leading to a prolonged time on the market. According to Rocket Mortgage:

““Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”
”

— Rocket Mortgage

Was It Easy for Buyers To Tour?

Restricting the days and times for house tours is one of the major mistakes to avoid when selling your home. While it might be inconvenient to accommodate buyers' schedules, flexibility is key to maximizing exposure and attracting potential buyers. According to ShowingTime:

“. . . do your best to be as flexible as possible when granting access to your house for showings.””

— ShowingTime

Was It Set Up To Make the Best Impression on Buyers?

If potential buyers aren't showing interest in your house, reconsider your home from their perspective. Are there any unresolved repairs that could be putting them off? Even minor issues might signal to buyers that the home hasn't been well-maintained.

When preparing your house for potential buyers, keep in mind that major upgrades aren't always necessary. Simple yet strategic small repairs and touch-ups can go a long way in enhancing the appeal of your home. Tasks such as neatening up your landscaping, applying a fresh coat of paint indoors, decluttering by removing personal items, and considering home staging can work wonders in making your house more attractive to prospective buyers.

Were You Willing To Negotiate?

If you received offers but weren't prepared to negotiate, that could be why the property didn't sell. While aiming for a high selling price is important, it's also crucial to have a realistic expectation of what your home can actually fetch in today's market. Although it's still advantageous for sellers, the market is shifting with more homes becoming available for sale and buyers facing increased mortgage rates. Being open to negotiations can greatly facilitate the closing of a deal.

““If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . . An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top.”
”

— Ramsey Solutions

Did You Listen To Your Agent?

If you're seeking expert insight into why your property didn't sell, turn to a reliable real estate agent. Whether it's the same agent or a new one after the listing expires, a competent agent will have a detailed discussion with you. They will value your candid feedback on the successful and unsuccessful aspects and your goals moving forward.

When they provide their viewpoint, they will share personalized recommendations and successful approaches for relisting your home to secure a sale. According to Better Homes & Gardens, an agent should be your primary source of assistance in this scenario.

““If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”
”

— Quote Source

Bottom Line

If your listing expired without selling, it's normal to feel disappointed. Consider reaching out to a trusted real estate agent to analyze what occurred and identify the necessary adjustments to relist your house successfully.