Putting a House Back on the Market
No seller wants to re-list their home, but sometimes it’s necessary. Maybe summer is the hottest selling time and properties just aren’t being picked up during winter. Or perhaps the seller needed to make some much-needed improvements to the property.
Whatever the reason, there’s no need to fear having to re-list a property. These 5 tips will help you more effectively re-list a client’s home.
1. Determine why the house didn’t sell
Before you start attempting to re-list, to fix any issues you have to identify the exact reasons behind the home’s previous performance on the market. You might even be able to chat with other agents who viewed the home with their buyer clients to get some insider details.
Look at the home with a critical buyer’s eye. If nothing is immediately obvious, try comparing it to the other homes in the area. Is this property dramatically different in some way, and could that have influenced the lack of interest, for example?
2. Take better photos to sell a home
Lackluster photos can be a huge disservice to an otherwise stunning home. If you have a feeling the listing’s photos were a deterrent to would-be buyers be sure to emphasize quality photos of the property this time around.
Professional photos are ideal, but your smartphone might also be more capable than you realize.
3. Stage the home appropriately
Now is the time to experiment with a new staging setup. You might consider changing the furniture from antique to modern to appeal to younger buyers, for example. If the home is in a family-friendly neighborhood you could stage with that in mind.
Your buyer could have also made staging mistakes the first time the home was listed. Avoid these staging mistakes when you re-list?
4. Make improvements to the home
When re-listing a home it makes sense to tackle some home improvement projects. Hopefully, these projects will be relatively small and inexpensive, like a fresh coat of paint.
However, if comparable homes in the area all feature certain updates, some more elbow grease might be required to make the sale.
5. Lower the price of the property
No one wants to lower the asking price of their home, but sometimes it’s exactly what’s needed to move the property off the market. Even a small reduction in price can expand your pool of potential buyers, making it easier to sell the house after it’s been re-listed.
Pricing also depends on the local market and lowering the price isn’t always necessary. Seasonality, available inventory, the local economy, and other factors will all influence the final asking price.
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