Relisting is a tactic designed by the real estate agents to make sure that your property listing looks new and fresh. It is basically a 90-day gap between the time period the property goes off the market and when it comes back in the listing. It is not always easy to relist a home for sale. It raises many questions for the sellers. It is not always the price which matters in case of relisting. It is better to let the people know the truth as to why you relisted your property. This can be due to price, home improvements or anything else!
Tips to consider while relisting your home
Here are few tips which you should consider while relisting your home for sale:
1. Take note of what your broker says: When you think of relisting your home, speak to a broker in order to find out what went wrong the last time. Give importance to what he says and accordingly list your home. Unless you know what went wrong the last time, you won't be able to list the property correctly this time as well. So, take into account the constructive criticism.
2. Consider low-cost improvements: Before you relist your home, it will be better if you could go in for some low cost improvements. This will improve the chances of sale and may even raise the property value. You can give your home a fresh coat of paint, trim and mow the garden, etc. The buyer will, thus, have a good first impression.
3. Make your house presentable: If your house is presentable and well maintained, then it will definitely attract more buyers. So, before you relist your home, you should make sure that you make it presentable. Remove unnecessary furniture or kitchen appliances and give your house a clean look. You should also air out your home.
4. Appoint the right agent: It is very important to hire the right agent to handle your property relisting and selling. Before appointing a real estate agent, shop around and ask him questions. Appoint the right agent as per your requirement.
5. Modify your marketing strategy: When you first listed your home, it did not sell. That means, there may be some kind of error in your marketing strategy which did not attract prospective buyers. So, now you will have to work on it before your relist your property for sale. Upload professional photos of your home and surrounding area when you list your property. This may make things easier for you.
6. Reduction in price: Many sellers face a common question while relisting their property – whether or not to reduce the price of the property. But it should be noted that a price drop is not always mandatory. There is a rule of thumb in case of price reduction - if 40 buyers have seen your home and none of them has given you any offer, it means that your home is overpriced. In that case, you may reduce the price.
Hope the above tips will help you sell off your home after relisting!