Taking a House Off the Market Can Be a Strategic Move
Browsing real estate listings can be fun when you are just daydreaming about buying a house or when you are confident that you will be able to finalize a real estate deal. One of the pieces of information that most real estate listings include is how many days the house has been on the market. If you are the seller, it is not fun to return to the listings day after day and see your house still listed, with the number of days that it has been on the market even higher than it was the last time you looked. The longer a house stays on the market, the less its chances of selling. Deciding when to be patient and wait for an offer and when to take your listing down does not come down to a one size fits all formula. In some cases, though, it is better to take down a real estate listing and to list your house again later when conditions are better. If you are thinking of taking down the real estate property you listed for sale and you want advice about maximizing your chances of selling it the next time you list it, contact a Washington, D.C. real estate lawyer.
Why Do Sellers Un-List Houses That Don’t Sell?
After you went to the trouble of listing your property for sale, taking down the listing of an unsold property can feel like you are giving up. When sellers decide to take down a real estate listing, it is usually because they realize that they are losing money by keeping it listed. They decide that, if they un-list it and then re-list it later, they can ask for the same price, or even a higher price, and get an offer soon after the listing appears. They might become convinced that they have little chance of selling because many other properties in the same area are also listed for sale and are also failing to sell. The point of taking down a real estate listing is not to give up on selling, but rather to revamp your property and the listing that announces it.
What to Do After You Take Down Your Real Estate Listing
People do not list their houses for sale unless they have moved out or planned to move out. If simply staying in the house you own is an option, it is by far the least expensive one. Some people decide to rent out the property instead of selling it; this at least enables them to break even on the mortgage payments. The more common scenario is that people renovate their properties to make them more attractive to buyers, and then they list them again when they think they have a better chance of getting an offer.
Contact Tobin O’Connor Ewing About Giving Your Real Estate Listing a Reset
A Washington, D.C. real estate attorney can help you if your house has not sold after you listed it for sale. Contact Tobin, O’Connor, and Ewing in Washington, D.C. or call 202-362-5900.
Source:
msn.com/en-ca/money/finance-real-estate/5-key-signs-it-s-time-to-take-your-house-off-the-market/ar-AA1BkRQ5?ocid=msedgntp&pc=ACTS&cvid=0a4f20ef1ff348a197b02eca29aed162&ei=12
