love your listing.jpg
 

How does a property end up expired? 

The Market 

•Pricing

•Inventory in the market is not analyzed correctly

•The home is not marketed and presented effectively

•Feedback is not taken constructively

•Listing isn’t on the market long enough

The Agent and the Seller 

•Mindset

•Agent is not creative in problem solving or approaches to elevate/expose the listing.

 

 

Road Map

•The market today and what inventory is doing

•Why the listing ended up expired – my interpretation

•What we can do to get the property sold

iStock-500910059.jpg
 

Comps and Data

Below are comps in your market that give us a glimpse of what the market is doing.  Zillow thinks data can be determined with an algorithm, however not every house is the same and markets are always changing. While it is important to review data the interpretation of the data is what separates agent from agent and agents from websites.  

 
 

Ptarmigan Unit, Whitefish, MT 59937
MLS #21713739 $275,000 (ACTive)

3 bedroom 2 bath 1255 sqft (1981) 

  • $219 per sqft
  • Condominium 
  • Fully furnished (not included in price) 
  • DOM 111
 

214 Tamarack Lane, Whitefish, MT 59937
MLS #21706291 $305,000 (canceled) 

3 bedroom 2 bath 1025 sqft (1979) 

  • 297 per sqft
  • Single Family Residence
  • Comes fully furnished
  • DOM 280
 

Statistical Data 

In the last year 

  • 6 closed
  • 1 expired
  • 2 cancelled
  • 4 are currently active

Average DOM 

  • Closed 196 (304)
  • Cancelled 215
  • Expired 176
  • Active 118

Average Price Per sqft 

  • Low $173
  • Average $204
  • High $238

Why listing became expired 

•Pricing

•Inventory in the market is not analyzed correctly - treated as a single family residence and not a vacation property 

•The home is not marketed and presented effectively - same

•Listing isn’t on the market long enough

•Not creative in problem solving or approaches to elevate/expose the listing - recommend price reduction


What we need to take away from the comps 

Comp does not only stand for comparable it also stands for competition.

  • They are all furnished
  • Have some updates 
  • No garage - most are condos 
  • Long list times 

The plan 

Want to start pricing, for some minor updates. Floors, counter tops kitchen/bathroom, windows and paint. 

Want to price to have the home furnished and start renting it out as a NIGHTLY vacation rental, can look into local property managers too. 

List over $300,000 - depending on the update $305-315k (furnishings included) 


Attract RIGHT buyers 

Stand above the competition 

We are able to sustain the listing long term since money is still coming in and able to provide data to investors who want a vacation rental income. 

Expired listing will be a non-issue

Selling higher then previous year - higher ROI

Benefits and Reason