Why Do Houses “Expire”?

You've seen this happen...A house sits on the market forever, and it doesn't get sold. You see an agent's for sale sign sitting in the yard for months and months. And then, all of a sudden, another one appears. Sometimes, the new agent will get the house sold. But sometimes, no matter how many different agents list the house, it just never sells. You've been watching that house "expire". That is industry-speak for when a house doesn't get sold during the time frame an owner has a listing contract with a particular real estate agent.