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Old 07-21-2009, 01:24 PM
 
38 posts, read 45,401 times
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I've heard many people say that once a home is on the market for a certain period of time (say over 100 days), the home becomes "stale inventory", and potential buyers are likely to assume there's something wrong with the house (which of course is definitely not the case), thereby decreasing your chances of selling.

I appreciate the fact that my agent has put a considerable amount of time (and money) into listing and marketing my home, and I do feel some moral obligation for him to see a return on that investment.

On the other hand, my home simply hasn't sold, and I'm pretty sure at this point I'm his lowest priority. His commission on my home would be comparably much lower than his other listings, and he's probably also come to the conclusion that my chances of selling are getting slimmer.

(not making any judgments here, just stating what I think are the facts)

So two questions:

1. Is there really a value, whether psychological or otherwise, to de-listing a home and then re-listing?

2. Is changing agents really just akin to re-arranging the chairs on the deck of the Titanic? I don't really see what another Agent could do any differently.

Thanks in advance.
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Old 07-21-2009, 01:26 PM
 
Location: Salem, OR
15,490 posts, read 40,182,593 times
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In my MLS we have a history button, so the de-list and relist doesn't work out here.

Have you had any showings? Feedback? Have other homes sold?
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Old 07-21-2009, 01:33 PM
 
Location: OK
2,825 posts, read 7,514,456 times
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As Silverfall said, there is a DOM feature on most MLS systems and even if not, a diligent agent will do a full listing history on the Subject anyway.

Quote:
I've heard many people say that once a home is on the market for a certain period of time (say over 100 days), the home becomes "stale inventory", and potential buyers are likely to assume there's something wrong with the house (which of course is definitely not the case), thereby decreasing your chances of selling
Ir depends on your market. If other houses are selling within 40-60 days and yours hasn'd sold yet after 100 days, there is indeed something wrong. Usually the reason is that the price is too high for that particular property.
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Old 07-21-2009, 01:40 PM
 
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The various services that get a feed from MLS will all get refreshed when the house leaves and then again when it is relisted. Sometimes that will catch the eye of a new pool of buyers.

The advice from Silverfall is very sound about the impact on other agents, and also he questions about what has happened to other homes in your area and the feedback you may have gotten from any showings. If there were NO sales then you really can say there were NO buyers, but if even ONE other home in your price ranges / comparable home than you have to ask "why them and not me"?

The smart thing to do is NOT merely to delist, but take a big step back and solicit the opinion of EVERYONE YOU CAN about what things, big & little, you could do to increase the APPEAL of your home to maximize the liklihood of it SELLING.

If one of the things that can be done is to change the price that should be considered.

Every trick to mazimixe the "curb appeal" and "stage" the house in MOVE IN CONDITION should be pursued. New photos and descriptions written, new flyers created. New avenues to "get the word out" should be pursued.

Good Luck!
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Old 07-21-2009, 01:43 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,220,133 times
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Our MLS has a 30 day rule about being off the market. If we take something off we have to start over with an entirely new MLS number which resets the DOM to zero. Also, any new agent listing the same property generates a new DOM number.

Agents can still look up the old listing, but the public sees it as a new property.

See if the MLS that your agent belongs to works like mine does.

Good luck!
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Old 07-21-2009, 02:45 PM
 
Location: Baltimore, MD
205 posts, read 821,765 times
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Quote:
Originally Posted by fcx_09 View Post
I've heard many people say that once a home is on the market for a certain period of time (say over 100 days), the home becomes "stale inventory", and potential buyers are likely to assume there's something wrong with the house (which of course is definitely not the case), thereby decreasing your chances of selling.
There is something wrong with your house. You're what's wrong with the house. I would steer clear because you're probably overpriced, and the 100 days indicates you may be rather stubborn about hitting a specific number. I don't think de-listing and then re-listing is going to help much. Sure, it'll get the attention of those new to the market, but people who have been looking for a while may think there's some shenanigans going on. That would be my immediate reaction.

The listing tracking sites that I use alerts me when one of the properties in my watch list or in my target areas drops in price. I think you'd get more impact out of a price drop than playing around with the MLS number. Changing agents is one thing, but in my area properties that go on and off the market are normally held by flippers doing shoddy work to make things look nice. Try upgrading your curb appeal or rearranging furniture inside if you can't do a price drop. Some paint might help too.
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Old 07-21-2009, 03:30 PM
 
38 posts, read 45,401 times
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Quote:
Originally Posted by chet everett View Post
The various services that get a feed from MLS will all get refreshed when the house leaves and then again when it is relisted. Sometimes that will catch the eye of a new pool of buyers.

The advice from Silverfall is very sound about the impact on other agents, and also he questions about what has happened to other homes in your area and the feedback you may have gotten from any showings. If there were NO sales then you really can say there were NO buyers, but if even ONE other home in your price ranges / comparable home than you have to ask "why them and not me"?

The smart thing to do is NOT merely to delist, but take a big step back and solicit the opinion of EVERYONE YOU CAN about what things, big & little, you could do to increase the APPEAL of your home to maximize the liklihood of it SELLING.

If one of the things that can be done is to change the price that should be considered.

Every trick to mazimixe the "curb appeal" and "stage" the house in MOVE IN CONDITION should be pursued. New photos and descriptions written, new flyers created. New avenues to "get the word out" should be pursued.

Good Luck!
Thanks for the feedback. Just to give more background, I'm in NC. Also, my home is in pristine condition . . . that's not just my biased observation, that has been the overwhelming consensus from the realtors who have shown my home. It is literally a brand new home on the inside, with new flooring throughout the entire house and new paint from top to bottom. My home is priced slightly below the average list price per sq.ft. based on the neighborhood comps. I have already dropped the price once.

By all objective measures, the home shows incredibly well, and my home has had far more showings than the average home in this market, according to my realtor (which tells me he's doing his job by bringing the potential buyers in). Unfortunately, none of those showings has resulted in an offer, and the Spring buying surge is long gone.

Only one of the homes for sale in my neighborhood has sold in the past 12 months -- it was the smallest, cheapest home in the neighborhood.

So my conclusions are as follows:

1. The market really sucks (duh).
2. They really overbuilt in my town. The new construction is killing us, as they are practically giving those things away (in crappy locations and often crappy quality, but people are enamored with the shiny objects).
3. Given the superior condition of the home, the only remaining option is to lower the price, and something's got to give . . . and that would likely be the realtor's commission (sorry).
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Old 07-21-2009, 03:39 PM
 
28,455 posts, read 84,921,999 times
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I understand you frustration. Perversely in areas with newer development the NICEST houses are often hardest to sell -- new buyers can't afford the upgrades and sellers would lose money.

If you can sit tight that might be only way to not lose money.

If you have resigned yourself that it is either "sell now or foreclose later" maybe the question is really how much do you want to lose...

Price per sq ft is a funny thing too -- with the first time buyers tax credit people don't care what is a better value, they just want the least out of pocket cost. If there is another surge brought on by other incentives maybe then you can capture a move up buyer.

I feel for you and hope that you can keep things together...
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Old 07-21-2009, 03:44 PM
 
2,729 posts, read 5,173,629 times
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From what you are describing your house looks in a terrefic shape but the market is not agreeing with you. I am not sure how you base price on listings of others. All of them will stay together..if all are priced high. When one moves then the others will follow. But so far only the cheapest (way cheap?) and smallest that moved. Getting in and out of the listing may catch the eye of new comers as suggested above but people who are following the market and like your house but think it is overpriced won't fooled by that.. They will wait or move on to other. Good luck.
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Old 07-21-2009, 03:45 PM
 
Location: Illinois
718 posts, read 2,071,401 times
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Ask yourself, if all things were equal, knowing what you know would you honestly pay the price you are asking for your home? Difficult to put yourself in the buyer's shoes, I know. But it always comes down to price and today, to get a property sold, you need to be a bit below market to secure an offer. Tough to take, I know, but it is not everyone's constitutional right to make money in real estate. Just doesn't happen and you can't expect to get back dollar for dollar for the improvements made along the way.
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