When you first list your home for sale, the goal is to see an offer or two from a highly qualified buyer quickly. Unfortunately, even in a sellers’ market, sometimes days and weeks go by without much interest. When this happens, it may be time to reevaluate the listing. Here are 4 signs that it may be time to take your house off the market, at least temporarily:
1. Needs Updating – It’s common in a sellers’ market to try to list your home without making updates. However, if you are getting feedback from buyers that your house is too dated, you may need to take your house off the market until you can perform targeted upgrades that will help your house to sell when you put your house back on the market.
2. Repairs Needed – If you discover that major repairs are needed, based on feedback or inspections, it might make sense to take the home off the market until the repairs are made.
3. Lowball or No Offers – Lowball If you are getting only lowball offers or no offers at all, it could mean that you priced your house too high for the market, even in a sellers’ market, or that you need to update the house.
4. Your Financial Situation Has Changed – Some sellers need to get a certain price for their home in order to make a move. If you find after a few months that buyers are not willing to pay anywhere near the price you need to sell, you may want to consult with your real estate adviser to see if taking your house off the market is the right thing to do.
A seller’s market does not guarantee that every listing will sell quickly and for a good price.
Did you ever have trouble selling a house?