A withdrawal followed by an immediate relist can foster other doubts and guards on behalf of potential buyers. Buyers know to ask about cumulative DOM. I suggest you be up front. It is what it is, and the buyers will know. Let them also have confidence in your integrity and straight forwad approach.
At Weichert Realtors, we do a FREE Price Trend Analysis (PTA) so we are listing the property properly to sell. The PTA is a comparative of closed sales for 12 months and 6 months, current listings that are active within the last 60 days, and pending sales.
You wouldn't be able to market it as NEW, but REDUCED, as per MLS regulations. Having open houses, doing mailings, and getting it listed where people find it is what we do.
Chrissy, the way I read your question, I inferred that you believe it is still overpriced, even after the 50K price reduction?
If so, what is the plan? to draw buyers that you can then show properly priced homes? Or is it to draw buyers for the lake PIQ to underbid and feel warm fuzzies for getting a house for
"well below list price'?
Or, did you mean it WAS overpriced, and is now appropriately priced at 50K less?
There isn't a lot of benefit to the cancel and relist strategy anymore, as here in the Twin Cities metro and almost all other markets, the MLS has listing and price history and cumulative days on market for properties and any agent worth his/her salt is going to find the information that you're trying to hide by the cancel-relist anyway. In this market, longer market times are common, too.
I wish you the best in selling your property!