Nearly 40 Percent of All Real Estate Listings Expire?

October 23, 2019

Ever Wonder Why Nearly 40 Percent of All Real Estate Listings Expire?

In sales, closing is a big word. In real Estate it is everything and yet in spite of all of the hype in 2019 the statistics for expired listings are still nearly 40%. That number has remained relatively unchanged over the past 5 years. I know because I have been watching and writing about it for a long time.

We have Laptops, Desktops, Tablets and Smartphones. Everyone is connected and there is more technology today in real estate than there has ever been and yet that is the collateral damage for houses that just dont sell conventionally in Stockton, Sacramento and Modesto.

With all of the banter by the National Association of Realtors, the hundreds of millions of dollars spent on advertising touting the advantages of hiring a real estate agent, can someone please explain to me why nearly 40% of all real estate listings expire? That number represents a vast graveyard of houses once on the market that never sold.

What is an Expired Listing?

Simply stated an expired Listing is a home of a seller that did not sell within the contractual time frame as outlined by the Real Estate Listing Agreement. The average length of a real estate listing agreement is 6 months or 180 days.

While no one can guarantee that they can sell your house, this number represents a huge black eye for real estate agents everywhere when you think about the magnitude of that failure. Real Estate Agents are sales people and with a 40% expired listings record, it indicates that the vast majority of them are not very good at their job.

Let it soak in… Almost 40% of all Listings in Stockton, Sacramento, Manteca and Modesto Expire! That is a huge number and it means that 40 out every 100 homes listed with a real estate agent are eventually left to linger in an expired listing graveyard. It means that for all of the chest pounding by real estate agents a lot of homeowners are left to fend for themselves. I can’t imagine that anyone wanting to sell their house hears about this statistic in advance of signing a 6 month listing agreement.

Worse yet, real estate agents are resolute that they operate by a code of ethics, and that the integrity of the industry operates accordingly, and yet I have never heard anyone in the profession utter a word about this this horrible closing ratio. Wouldn’t you think that this would be a noteworthy disclosure to all would be sellers in advance?

This omission, may explain why 78% of all sellers wanting to sell their houses actually list with the first real estate agent that they talk to. Maybe it’s the hype of the presentation or the glitter of the seemingly million dollar logos, but in my analysis, it means there is a lot of risk in selling a house.

If real estate agents were to disclose their batting average, so to speak, most home sellers would at least pause and ask a lot more questions before signing a 6 month listing agreement? Maybe they would also look for actual cash home buyers in Lodi, Stockton, Sacramento and Modesto that would be willing to pay cash for their house rather than allow the Multiple Listing Roulette Wheel to determine their fate.

In preparing for this post I did a lot of research and it surprised me that the number of expired listings as a statistic is now relatively easy to find. The numbers are there and there was a lot of information on the definition of an expired listing and how to relist an expired listing. Of course my results are looking at the industry as a whole among all real estate agents. The top 10% of all agents fare much better at what I would call a “closing ratio”. The problem is is that most sellers are not seeking out the best agents and those statistics are stated below. When I first ran the numbers 5 years ago I pulled the data directly from the MLS and cross referenced with Sold listings and the net result was 38% expired. Every top real estate agent and real estate investor can tell you what the problem is and in my research I also found the details were outlined more often than not by another real estate agent.

What Are the Reasons for an Expired Listing?

My name is Peter Westbrook and I am a Real Estate Investor in Sacramento, Stockton, Modesto and Manteca California. I am the owner of Westbrook REI and we are a Local Cash Home Buyer… a “We Buy Houses Stockton Company”. We have helped hundreds of families by providing real solutions to buying houses throughout Northern California and we pay cash. We also have never had an expired listing and the reason is simple. I dont want to sell your house or earn a commission, I want to buy it and let you get on with your life.

If you want to avoid becoming one of the 40% of home sellers wondering why your house didn’t sell, call me at (209)481-7780 and let’s talk about selling your house to me. We don’t need bank approval, we won’t order inspections, appraisals or make unreasonable demands, we just buy your house fast and pay you cash.

We Buy Houses in Stockton, Sacramento & Modesto

I Buy Houses Stockton Introduction (209) 481-7780 We buy Houses Stockton

My name is Peter Westbrook and I am a local real estate investor and the owner of We Buy Houses Sacramento and Westbrook Real Estate Investments. I am NOT a Real Estate Agent or Broker and for good reason. I purchase real estate and I am NOT going to ask you to pay a commission or a fee.…I pay CASH and because I do, I can close on the day that I tell you.

For those of you that already know me or have already called me you can attest that I answer my own phone and I return all phone calls. When you call me at 209-481-7780 you are calling me on the same number that my mother and my closest friends call me at.

Sell My House Fast

Contact the area's #1 And Most Trusted House Buying Experts to Sell Your Home. We buy houses in ANY Condition. There is no obligation or cost. What do you have to lose?

Hear What Others Have To Say…

The City of Stockton was getting ready to tear down my old house. I was no longer able to maintain the Stockton House and after years of trying to keep up with code violations, needed repairs and vandalism, I finally called Peter

Westbrook. He came right out and told me what he could do. He contacted the city and county and even cleaned up the property before he bought it. He paid the back taxes for me and gave me an advance on the purchase of the house. Without his help I would have lost everything. I called real estate agents and other investors but no one wanted to help and no one offered to pay as much as Peter Westbrook. He completely remodeled the house and I smile every time I go by. Thank you Peter.

Leonard S

We inherited our parents house with one of our brothers living there . The property taxes had not been paid and it was in Tax default. We called Peter Westbrook and he found that the title was still in our parents name, so the Stockton House never went through probate. Peter also found that there was an old auto loan that had a lien on the

title and an old bankruptcy ruling to take care of that lien had never been filed with the courts. Peter handled everything including paying the back taxes, paying for the hiring a Probate Attorney and filing the probate and paying for and hiring a Bankruptcy Attorney to finalize the removal of the lien. He was patient, understanding and he took care of everything including evicting the tenants that were living in the house. We talked to real estate agents and other I buy house people. None of them had the answers for our situation. Without peter we would have lost everything. We got paid cash.

Steve H

We inherited my parents Stockton house with a mortgage. We decided to rent it out. The tenants destroyed the house. I didn’t know what to do, I didn’t have the money to fix it and the city had already issued code violations.. I called an “I Buy Houses Stockton Sign” on a telephone pole and Peter Westbrook answered. In 4 days he paid the bank and bought my house. We would have lost everything if it weren’t for Peter Westbrook.

Mike B

I inherited my mothers house with a mortgage. When my husband and I lost our jobs, we got behind in payments. Then the Bank posted a default with a auction date we didn’t know what to do.

We didn’t have the $15,000.00 and we only had two weeks to do something. We called Peter Westbrook and form the beginning he was confident he could stop the bank. Within 4 days he bought the house with cash, paid off the bank and stopped the Foreclosure. Without Peter we would have lost everything.

Brenda T

I saw a sign on a telephone pole and against my better judgement I called. The last thing I expected was a person answering the phone. I was surprised, Peter Westbrook answered the phone. I had a lot of questions and Peter had the right answers. My mother needed to get as much as possible out of the house and we had talked to several real estate agents and they all wanted to sell it cheap and wanted a 6% commission. They all told us unless we put thousands of dollars into it could not be sold for what we wanted. Not Peter. He made a fair cash offer and since then we have sold him another house. Peter and the title company handled everything. I couldn’t be happier and I would recommend Peter Westbrook to anyone.

Cathy W

I needed to sell my Stockton House. I called a phone number I saw on a sign and talked to Peter Westbrook. The City of Stockton said that they were going to take away my vacant Stockton house, knock it down and send me the

bill to do it. I did everything that I could to try to make them happy. A neighbor offered to buy the house and then Peter offered me twice as much. He did everything he said he would do and I just had to go to the Title Company and sign the papers. He did all of the work and now the City of Stockton is his problem. Thank you Peter.

Ann C

I inherited my Fathers Stockton house. The front porch was falling in, the walls had holes from being vacant and vandalized. The City of Stockton fined us, red tagged the property and forced us to put on a new roof so we had to get loans and we still couldn’t rent it out.

I called one of those “I Buy Houses” signs and Peter Westbrook came out and made a cash offer. The House closed escrow and we got our money for a house we though was worthless. Thanks Peter!”

Broderick R.

“Our Grandfather passed away and my brother, sister and I inherited his Stockton house. He was a junkman and hoarder. He was also 90 years old and had not made a repair to the house in years. He had garage sales almost every day. The house and the yard were full of junk. We tried to get everything out so we could just see the house. We had family and friends come over on the weekends but the cost and effort was consuming all of our time.The house was a mess.

I called Peter Westbrook and he made us a cash offer for the house and he said he would take care of all of the clean up. Thank God I called. The City had issued code violations and fines on the property and even before we closed escrow Peter and his crew had the house and yard cleaned (4 large Dumpsters later) . I recommend Peter Westbrook to anyone that has a problem house. They were fast and professional”

Connie J.

“I had tried to sell my Mothers Stockton house for two years. Realtor’s told me to tear it down. I didn’t have the money for that and my Brother and his family were living there. Peter Westbrook made me a cash offer and closed escrow with my brother still in the house. Peter Westbrook is my savior. I don’t have to worry about the house any more. If you have a Stockton house that has become a burden and you don’t have the money to fix it to sell it, call Peter Westbrook.”

Rosemary R.

Ever Wonder Why Nearly 40 Percent of All Real Estate Listings Expire?

What is an Expired Listing?

What Are the Reasons for an Expired Listing?

Leave a Reply Cancel reply