Home Selling in South Lyon>Question Details

Needabuyer, Home Seller in South Lyon, MI

Is there any benefit to taking a house off the market, waiting a short period of time and then re-listing the house as a new addition to the market?

Asked by Needabuyer, South Lyon, MI Sat Aug 27, 2011

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If you are going to take a house off the market and re-list it you should also look at why the house is not selling. Try to change the problems with the listing and then relist for a fresh start!
1 vote Thank Flag Link Sat Oct 20, 2012
Absolutely, if the house is not selling, or the house is void of furniture, or the photos just don't showcase the home well. You could hire a professional home stager and have it staged with all new photos that will show better than the previous online photos. over 90% of individuals view photos online first before deciding to view the property. The pictures have to be appealing and the best they can be.

Withdrawing the listing will give you time to have it staged and all new photos. Then have a new listing completed with great photos. Photos of professionally staged homes look better on the MLS and will bring buyers to your doorstep

Statistics show your house will sell faster and for more money.
0 votes Thank Flag Link Wed Jan 27, 2016
Are you hoping to have a bidding war? I ask this because there was a home I was interested in and put an offer for the full listing price. After almost two weeks of waiting, I heard that she may take it off the market. I'm wondering if she was expecting a bidding war and was disappointed that it didn't happen.
0 votes Thank Flag Link Mon Nov 23, 2015
The only benefit would be days on the market. A new listing does receive more action the first few weeks its on the market but this is due to buyers not having access to your home. In theory, you are still receiving the same amount of exposure throughout the listing time frame but you are only receiving new calls from buyers that are new to the market not the fact of your home being new to the market.
0 votes Thank Flag Link Mon Mar 26, 2012
Needabuyer,

You cannot sell it if it is not on the market. You have to remember there are many agents viewing your property and if they don't have a buyer themselves, they may speak to another agent that does and recall your home. It is very busy in the market I work and if your home is not getting offers you have to have a serious conversation with your agent as to why. If your home needs repairs, do them, if the landscape need work, do it. First impressions are important. I showed a property the other day and because the exterior was bad the buyer did not want to see the inside. Some buyers are like that especially if they are lookng for a home that is private owned and not a foreclosure that needs work. Your house needs to have some wow factor.

Good luck
0 votes Thank Flag Link Tue Aug 30, 2011
The only reason to take your home off the market is either because your tired of people coming through and need a break or you plan on working on it before putting it back on the market.

You won't fool anyone into thinking it's new on the market, sites like Zillow and Trulia as well as other track it carefully and the information is public. Local Realtors will also know it's not new to the market.

If your house isn't selling there is only one reason "the price" You may not like the price it would sell for, but Sellers will never set pricing, Realtors have even less to do with pricing, the only person who ever sets a property's market price is a ready willing and able Buyer. This is true in every location in every market, there are no exceptions.

If your home hasn't sold it's time to lower the price, if you can't afford to or don't want to, then do yourself and the market a favor and simply take it off for now.

I wish you nothing but good luck.
0 votes Thank Flag Link Tue Aug 30, 2011
You have a 100% chance of your home not selling if it is off the market. With the advancement in technology, most buyers can find out how many times and how long the property has been on the market and at what prices. You gain nothing, in my opinion, by taking it off the market. Better to have your agent resubmit it like it was a new listing, hopefully with some price reduction. They need to be sure it is assigned a new MLS number. Doing this keeps it exposed to potential buyers and causes it to show up as a new listing for all of the automatic notifications. If you are not in the race you have no chance of winning.
0 votes Thank Flag Link Tue Aug 30, 2011
If part of the adage about fooling some of the people some of the time is true, then I guess there is a benefit.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sun Aug 28, 2011
Hi, This all depends on if you are making changes to the home, including the price. Buyers are very savvy these days and keep a close watch on the market. if you have a great house, in a great location, at a good price it will sell in any market.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Sun Aug 28, 2011
I disagree with most of the comments below, and agree with some. It may prove fruitful, IF ... and that is a big IF ... you make some changes including some or a combination of the following: price adjustment, new photos, staging, property improvements, etc.

If it is going to be a mirror image, at the same price, with nothing changed ... it is a waste of time. However, if you are going to invest some money into the home (I use a professional stager) and/or adjust the price (critical component, as if everything else is right and this is wrong, you're running uphill), then have new crisp photos (I use a professional photographer), it certainly may.

Good luck! Keep us posted. Let me know if we can help.
0 votes Thank Flag Link Sun Aug 28, 2011
I find that taking a property off the market does very ;itt;e to help it's postion unless it is completly "reworked" i.e. new photos, discriptions, and hopefully a new price as well.
0 votes Thank Flag Link Sun Aug 28, 2011
Hopefully, during that wait period, whatever was wrong with it was resolved, like pricing it at a reasonable and marketable price. One advantage is refreshing the listing is that when it's re-lised it will show up on the hot sheet.

Many agents set up their buyers to receive automatic notification whenever a new listing becomes available that meets their needs. If this property was overlooked before because of its high price, then it has a new lease on life when it comes up as a "new" listing to new buyers.

Agents may know it's a refreshed listing....and buyers have a way of finding out as well...but it may pique enough interest this time around.
0 votes Thank Flag Link Sun Aug 28, 2011
Needabuyer,
Consider reshooting the front picture and combining this with a reduced price. Buyers who have been searching for a while, and seen everything might overlook your home with the same front view online. A new picture and reduced price will catch some buyers and agents by surprise and possibly get you some new activity.
Ultimately, if you are not the best value for the money buyers will bypass you and purchase the one that is.
0 votes Thank Flag Link Sat Aug 27, 2011
Nope - you're not fooling anyone.

Not only will the agents know what your "strategy" is.......the buyers will know it, too.

Besides, what if a buyer comes along while you're waiting to time your return to the market? You might lose out!
0 votes Thank Flag Link Sat Aug 27, 2011
Waste of time.

Rose Tibbles (734) 812-6745
0 votes Thank Flag Link Sat Aug 27, 2011
None.

Pete@petemaxfield.com.
0 votes Thank Flag Link Sat Aug 27, 2011
Most homes that languish on the market is due to pricing. An agent can withdraw your home from the market and relist it in a manner of minutes and it will come up as a new listing. I would recommend that your agent rerun a Current Market Analysis on the house to see where you stand in the asking price.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Sat Aug 27, 2011
As it has been said before, it depends on your market. In our MLS, there is no major benefit for taking the home off the market for a "time period". But, since the winter in our area (much like yours) can be bad, it does not hurt to take the property off the market when you would have trouble showing the property during this bad time.

Also, it depends on your situation, how quickly do you need your property sold, what are the current inventory numbers (looking at sales versus active), and how long do you resonable think it will take to sell the property?
0 votes Thank Flag Link Sat Aug 27, 2011
It depends upon your local market. If your home is staged well, is nicely appointed and shows well, then I would question price. Do you have a link to your home? I'd be glad to give me opinion. My recommendation is to keep it on as interest rates remain very low. Look at other things to do to promote it!

Frank Dolski MBA, ABR, e-PRO
Associate Broker
CARTUS Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
215-803-3237 (mobile)
215-794-1070 x-103
f.dolski@cbhearthside.com
http://www.FrankDolski.Com
Web Reference: http://www.FrankDolski.com
0 votes Thank Flag Link Sat Aug 27, 2011
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