5 Things to do When Your Listing's About to Expire

March 1, 2003
  1. Check your MLS for the average number of days on the market for homes comparable to your listing, and use this figure to demonstrate to the owner that the listing should be extended.
  2. Complete another CMA to determine whether the price on your listing still reflects market pricing.
  3. Discuss with your clients what you’ve done to market the house. Develop a new marketing plan with a different approach, and present it to the sellers when you ask for a renewal. And don’t wait until the last minute to discuss a listing extension with your client.
  4. Offer cooperating salespeople a coupon for free ice cream or a free cup of gourmet coffee if they’ll call you and tell you what buyers said about your listings.
  5. If you don’t think you’ll be able to sell the listing, let a trusted colleague know it’s about to expire, and earn a referral fee.

Sources: Bill Barrett, Bill Barrett Seminars, Rochester Hills, Mich.; REALTOR® Magazine Online