real estate

Try, try again: 6 tips for relisting a home

Relist your house and do it right
Relist your house and do it right © Andy Dean Photography/Shutterstock.com

Relisting a home isn't an enviable position for any seller. Something went wrong the first time, and for many sellers, trying again to sell the home raises more questions than answers.

While it's common for real estate agents to handle relistings, data on just how common the situation is can be hard to come by because some agents pull listings for a week or two and then relist. It's a tactic designed to make a home listing look fresh. But increasingly, a true relisting is defined as having a 90-day gap between the time the property goes off the market and when it comes back. In that scenario, many real estate agents say it isn't always price that kept the property from moving.

"When relisting a home, the first objective should be to tackle the questions of why the home was removed from the market in the first place," says Aaron Mighty, a real estate broker in central Florida. "Clearly, in this economy and recovering housing market, it can be one of many reasons, but the best answer is always the truth, no matter what it may be."

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Are you putting your house back on the market?

If you plan to relist your home, your first step is to ask your agent how your home was perceived when it was on the market the first time around. Be receptive to constructive criticism.

Consider making some low-cost home improvements, such as giving your home a fresh coat of paint, or planting affordable flowers to improve its curb appeal. Inside your home, get rid of clutter. Put away the small appliances crowding your kitchen counters and the shampoo bottles in the bathrooms. Minimize the number of personal photos in your house.

Also, consider getting a new real estate agent. Interview several candidates. Ask how widely your property will be marketed online. Do the photos on the multiple listing service need to be replaced with better-quality images?

Finally, if your home got a lot of traffic the first time around but not a single offer, you might consider reducing your asking price.

 

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