Real Estate Watch: New Tactics for Relisting a Home

A relisting — not counting homes taken off the market by the agent for a week or two before reappearing to make it look fresh — is a home that has been off the market for 90 days before it comes back. Sellers should obtain feedback from agents at the end of the original listing to determine how the market perceived the property, and they should consider what went wrong the first time before they relist it. “Clearly, in this economy and recovering housing market, it can be one of many reasons,” says Central Florida-based broker Aaron Mighty, “but the best answer is always the truth, no matter what it may be.” Sellers should consider painting and other low-cost cosmetic improvements, decluttering, and staging the home before relisting it. They also might want to think about hiring a new agent to handle the relisting, basing their decision on experience not acquaintances. Sellers additionally should consider a new marketing campaign, ensuring that listing photos look professional. As far as price reductions, that might be a good idea if market conditions remain the same and if the sellers did not receive a single offer despite numerous buyers touring the property. | Read More