Has your phone stopped ringing at all over the past few days? If your home is now an Asheville expired listing, probably not. When the agent you were working with was not able to sell your Asheville house during the agreement,
it then automatically reverts to become an “Expired Listing“. On the MLS every agent can now see that your contract with the realtor you were working with is no longer place…this means that everyone wants to win your business. With the flood of calls, pieces of mail, and people showing up at your door it can be overwhelming, so what should YOU do?
Asheville Expired Listings: The Numbers
Before making any decision, it is always helpful to know the facts. Let us share with you a few numbers that were pulled directly from the Western North Carolina MLS (Multiple Listing Service) between May and June 2015 for Buncombe and Henderson counties.
Active Listings: 2,333
Average Days on Market: 155
New Listings: 1,631
Expired Listings: 167
What do these numbers mean? During the two month period of May and June, there are over 2,000 houses available on the MLS, and of these, 1,631 are new households that have decided to sell their houses during this time period. Each house is taking an average of 155 days to sell. Just over 1000 people have been able to sell their house during that same time period.
If your home has not sold in a reasonable time, what happens? Well, some of properties fall into the expired listing and withdrawn category. If the contract with your agent expires, then your home gets added to the Asheville expired listing category.
Now that your home has become an Asheville expired listing, you typically have a few options.
1. Re-List with an Agent
This is certainly an option and you will have a variety of agents to choose from. With all the calls, mail, etc. that you are being inundated with, you will need to sift through and decide on the agent you feel will do the best job. While your house was listed the first time, did you have sufficient offers, showings, interest? The market value of your house regardless of what anyone will tell you is ONLY determined by the individual who makes an offer AND closes on your house. Be realistic!
2. Sell it FSBO
Selling it FSBO (For Sale By Owner) is an option and there are great resources that will help you walk through that process. However, it is important to keep in mind that the average FSBO sales price is just over $40,000 less than when listed with an Agent. If your house is now an Asheville expired listing, the agent was not able to sell your house and the numbers show that on average selling by owner will net you less than with an agent. Well…now what?
3. Rent It
Depending on why you decided to sell in the first place, renting may or may not be a realistic option. If you were selling a house that is not your primary residence then going through the steps of renting will give you the ability to be more patient. However, if the house you are trying to sell is YOUR home and primary residence, then it is not possible to rent the house while you live in it. Which leads to the next option…
4. Work with a specialist
Feeling a little overwhelmed? Don’t worry, that is completely normal. Selling your house is always a process that involves an emotional rollercoaster ride. In the same way that you turn to a trusted profesional to get the job done in other areas of your life, you have the option to dothe same when it comes to selling your Asheville house. At Asheville Cash Buyers, we buy your home. No showings or working with buyers…We ARE the buyers. Typically, we pay cash which means you set the paramators of the sale. For example, just recently we purchased a home from a couple in North Asheville. Due to their situation, they needed to stay in their house for a month after they sold it so that they could finalize the purchase of their new house out-of-state. We want to work with you and make the process easy. If you want to learn more about selling your house to us for cash, you can do so here.
5. Not Sell
If the decision was made to list the house, then typically not selling is not a very good option. As you can see, you have options, and not selling is one of those. However, if selling is a MUST, then reach out to us so we can have a conversation about what we might be able to do in regards to BUYING your Asheville house.
If you are ready to not wait any longer, are wanting the calls to stop, and want to be sitting at a closing table in the next 30 days or less, then go ahead and fill out the form so we can get started. We will contact you within 24 hours of receiving your information. Best of luck!