Taking Your Home Off The Market? Don't Put It Back On Until You Make These Changes
Posted on: 15 December 2016
If your house has been on the market for a long time with little to no serious interest from buyers, you may be tempted to take the listing off the market for a period of time. For example, if the Christmas holidays are approaching and you don't want to deal with selling the home, you may keep it off the market until the spring. When spring arrives, however, you shouldn't just put the home back on the market and expect it to sell, given its earlier inability to sell. Instead, make one or more of these changes before you relist the property.
Reduce The Price
It's possible that your home failed to sell because the price was too high, so you'll likely experience the same result if you put your home on the market without changing the price. Lowering the asking price can be an effective way to gain interest in the listing, but you shouldn't just lower your original price blindly. Instead, ask your real estate agent to provide some market analysis that will suggest what comparable homes in your area have been successfully selling for. You'll then have a rough estimate of how much to drop your price.
Develop A New Marketing Strategy
In many cases, changes to your marketing strategy for selling your home can make a big difference. If the strategy you've used hasn't yielded results, don't simply go back to it once your home hits the market again. Instead, meet with your real estate agent to discuss how the home can be marketed differently. For example, if you were only holding open houses geared toward buyer agents, changing your approach so that anyone can attend your open houses can be a good idea.
Fix Any Potential Drawbacks
If your home has some problems, they might have scared buyers away and prevented the listing from selling. Putting the house back on the market with these issues still present is likely to yield the same result — a lack of interest in your listing. Walk through the home with your agent to determine which things might be scaring buyers away. For example, if the basement isn't finished, finishing it can be a good idea. Or, if the house's interior walls are painted an ugly color, a couple new coats of paint can transform the appearance of the rooms. By addressing these issues before you list the home for sale again, you'll hopefully be able to get an interested buyer quickly.
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