Given today’s technology, it is truly hard to hide the fact that your home has been on the market before. One of the first questions almost every buyer I work with asks, how long has this been on the market? In case you wonder, the next one is generally why are they selling?
In my Multiple Listing Service, BAREIS, they not only show how many days a listed is on the market, but the cummlative days for all previous listings. I guess BAREIS is a little more realistic for they will not show past listing information if the property has been off the market for longer than 60 days from previously being listed.
Thus, if you are selling your home and no one is showing it and you haven’t received an offer, there is only one conclusion. IT IS PRICED TOO HIGH. Yes, there can be other reasons but in the vast majority of homes, it is price. Thus the following article in a recent issue of Market Matters put out by the CALIFORNIA ASSOCIATION OF REALTORS® is to the point and hopefully will help you get it sold. So, price it correctly in the beginning and enjoy moving into your new home.
Good luck selling yours and if you are looking here, let me put my nearly 30 years experience to work for you and help you get the perfect Napa Valley property, please contact me
- Relisting a home isn’t an enviable position for any seller. Generally, when a home is relisted it is because something went wrong the first time, and for many sellers, trying again to sell the home raises more questions than answers.
- A true relisting is defined as having a 90-day gap between the time the property goes off the market and when it comes back. In that scenario, many real estate agents say it isn’t always price that kept the property from moving.
- According to one real estate expert, when relisting a home, the first objective should be to tackle the questions of why the home was removed from the market in the first place. It could be a number of reasons – financing failing to come through, an appraisal coming in lower than expected, or the house being relisted at a lower or higher price – but the best answer is always the truth, no matter what it may be.
- Sellers relisting their home after three or more months off the market should listen to comments from their REALTOR®. The best place to start is with a post-mortem on what went wrong the last time.
After a listing ends, homeowners should ask their REALTOR® how the market perceived the home. The answers to this question should guide future strategy, especially if a number of other real estate agents and buyers raise the same issues.